Multiple Choice Questions on Economic Cost of foodgrains consists of which of the following pooled cost of grains procurement inc........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

Economic Cost of foodgrains consists of which of the following pooled cost of grains procurement inc...........

Economic Affairs Food Management
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    Economic Cost of foodgrains consists of which of the following?

    1. pooled cost of grains
    2. procurement incidentals
    3. the cost of distribution

    1 and 2

    Incorrect Answer

    2 and 3

    Incorrect Answer

    1 and 3

    Incorrect Answer

    1, 2 and 3

    Correct Answer
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    Explanation:
    •Economic Cost of foodgrains consists of three components- pooled cost of grains, procurement incidentals and the cost of distribution
    •The pooled cost of food grains is the weighted MSP of the stock of foodgrains available with FCI. It increased due to rise in the MSP of both rice and wheat.
    •Real economic cost: Increase of one unit in real MSP leads to 0.48 unit increase in real economic cost procurement and the impact is significant.

    By: Abhishek Sharma
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