17 Questions
What is the primary purpose of cooperative marketing for farmers?
To collectively sell produce and increase bargaining power
How do distress sales occur among farmers?
Due to financial distress forcing them to sell at low prices
What is the main goal of a 'corporate society' in marketing as mentioned in the text?
To negotiate prices collectively for better returns
Why is the concept of sustainable livelihoods important in agriculture according to the text?
To ensure survival for present and future generations
What kind of financial needs do farmers have, according to the text?
Short-term needs for immediate expenses and long-term needs for investments
What are the main objectives of a Government Budget as discussed in the text?
Reallocation of Resources, reducing income inequalities, ensuring economic stability, managing public enterprises, and reducing regional disparities
Differentiate between revenue receipts and capital receipts in a Government Budget.
Revenue receipts are recurring in nature and do not create liability or reduce assets, while capital receipts are occasional and non-recurring and can create liability or reduce assets.
What are examples of revenue receipts in a Government Budget?
Taxes and fines
Explain the difference between direct taxes and indirect taxes mentioned in the text.
Direct taxes are imposed on income and property, while indirect taxes are imposed on goods and services.
How does the Government use taxes to achieve budget objectives?
By imposing taxes on harmful goods, providing subsidies to the poor, and focusing on increasing GDP through effective policies
What is the significance of managing public enterprises in the context of a Government Budget?
It is important for ensuring efficient allocation of resources and promoting economic growth
Explain the difference between direct and indirect taxes.
Direct taxes are imposed on income and property with a progressive nature, while indirect taxes are on goods and services with a proportional basis.
What are examples of direct taxes mentioned in the text?
Income tax and wealth tax
How does the tax burden differ between direct and indirect taxes?
Direct tax burden cannot be shifted, while indirect tax burden can be shifted to the final users.
Explain the concept of non-tax revenue receipts.
Non-tax revenue receipts include interest earned on loans, government profits, dividends, fees, fines, escheat, forfeiture, special assessment, and gifts/grants.
What are capital receipts, and how do they impact the government's liability?
Capital receipts include borrowing money, recovering loans, disinvestment, and small savings, and they increase the government's liability.
Differentiate between revenue expenditure and capital expenditure.
Revenue expenditure involves daily recurring expenses, while capital expenditure involves non-recurring expenses that create assets or reduce liabilities.
Study Notes
- Farmers facing financial distress are often compelled to sell their crops at low market prices, leading to situations like "distress sale" and "distress situation".
- Cooperative marketing involves farmers forming groups to collectively sell their produce, increasing their bargaining power in the market.
- The concept of "corporate society" in marketing involves sellers coming together to negotiate prices collectively, ensuring better returns for their produce.
- The text discusses the importance of sustainable livelihoods in agriculture, emphasizing the need for production methods that ensure survival for present and future generations.
- Different types of financial needs in farming are highlighted, including short-term needs for immediate expenses and long-term needs for investments like land purchase or permanent improvements.
Test your knowledge on topics such as cooperative marketing, distress sale, corporate society, sustainable livelihoods in agriculture, and financial needs in farming including short-term and long-term requirements.
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