Which of the Following Is True of the Agricultural Sector

question 142

Multiple Choice

Which of the following is true of the agricultural sector in developing countries?

• A)A very small percentage of labor force is employed in agriculture.
• B)Farm productivity is usually very low.
• C)It relies heavily on technology.
• D)It does not contribute to the exports of the countries.
• E)It accounts for a high percentage of the national income.

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Definitions:

EVPI

Expected Value of Perfect Information, a measure in decision theory that quantifies the value of having complete information in the decision-making process.

Setup Costs

The expenses incurred to prepare a machine, process, or system for manufacturing a new batch or product.

Variable Costs

Expenses that change in proportion to the level of business activity or production volume, such as materials and labor costs.

EMV

Stands for Expected Monetary Value, a concept in risk management used to calculate the average outcome when the future includes scenarios that may or may not happen.