Question : The difference between a farmer’s output over and above his on-farm consumption is known as __________.
Option 1: consumer surplus
Option 2: marketable surplus
Option 3: foreign consumption
Option 4: domestic consumption
Correct Answer: marketable surplus
Solution : The correct option is a marketable surplus
The difference between a farmer's total agricultural output and the portion of that output consumed on the farm is known as the marketable surplus or net farm income. This surplus represents the quantity of agricultural products that can be sold or used for other purposes beyond the farmer's consumption. It is an important factor in determining the economic viability and sustainability of a farm operation.
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