Agribusiness

Front

The price of beef goes up in the grocery store due to a shortage of beef production in the country. This represents the economic concept of

Back

supply and demand

Front

A well-known restaurant chain has an outbreak of salmonella poisoning from tomatoes. Business has declined for the restaurant chain since the report of the salmonella. The customer response to this situation represents economic

Back

elasticity

Front

The country who consumes the greatest amount of pork per capita is

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Denmark

Front

______ consists of real estate (land), buildings, house, and various types of improvements to real estate

Back

real property

Front

A depreciable asset's book value will equal its salvage value

Back

only at the end of the useful life

Front

A farmer increases an investment in land, building, and equipment to increase the total units of production. The cost per unit of production

Back

decreases

Front

The most important reason for complete farm financial records should be

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to combine with production records to provide information for management decision making

Front

Marian and Sara borrow $175,000 on March 15. They expect to repay $100,000 on October 15 and the remaining balance on November 15. Calculate the total interest obligation if the interest rate is 8% and interest is charged on the daily outstanding principle balance.

Back

$8,718

Front

Less workers are needed for farm production due to

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technology

Front

One strategy to manage financial risk is

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maintaining a low debt/asset ratio