A business organization in which the owners have shares in a separate legal entity that itself can own assets and borrow money.

Something that is owed or that one is bound to pay or perform for another.

Online and electronic business accounting similar to paper-based systems of accounting.

The science of the production, distribution, and consumption of goods and services.

A part of the value chain, food, fuel, fiber, lumber or pharmaceuticals is ready, it is stocked for public use.

The monetary payment received for goods or services or other sources, such as rents or investments.

Item purchased to carry out a farm’s operation. These include fertilizers, pesticides, seeds, fuel, and animal feed.

Financial obligation (debt) that must be paid at some future time.

Limited Liability Company (LLC)

A business organization similar to a partnership but offering its owners the advantage of limited financial liability.

An individual or business that advertises, markets, and promotes a product or service.

Things that you must have to live a safe and healthy life.

The property, items, and equipment owned, including all parcels of land in the United States.

Two or more persons as co-owners of a profit-making business. The co-owners of a partnership are participating in management, sharing profits, sharing losses, owning assets together, a single joint bank account, and a single set of records.

A part of the value chain, products like seed, machinery, and data analysis are just some of the things needed to carry out the duties of the rest of the chain.

An individual or business that changes the form of a commodity or ingredient by mechanical or chemical methods or combining items to create a product of increased usefulness or value.

An individual or business that grows crops or raises livestock.

An article or substance that is manufactured or refined for sale.

A part of the value chain, raw materials needed for end products are produced. Crops are grown, livestock is raised, oil is drilled and coal is mined.

Documenting and entering data in ledgers, journals, or files. Often used to detail financial transactions.

Research and Development (R&D)

A part of the value chain, after determining trends in consumer preferences, that create innovative new processes, products, and solutions to solve problems.

An individual or business that sells goods to consumers and end users.

Sales, Service, & Support

A part of the value chain, advertising, and marketing are used to inform consumers of their purchase options and lead them to stores.

An intangible item, something that is not physically touched or stored, that is traded. These are efforts and talents by individuals, such as mechanical work, consulting, logistics, public relations, and maintenance tasks that often contribute to or supports another business activity.

A unit of stocks traded by a corporation that shows ownership.

Simplest, oldest, and most common form of business ownership in which only one individual has all the benefits and risks of running an enterprise. In a sole proprietorship, there is no legal distinction between the assets and liabilities of a business and those of its owner.

A channel of distribution beginning with the supplier of materials or components, extending through a manufacturing process to the distributor.

An individual or business that moves goods from one location to another. These could include trucking, rail, boat, air, or other methods of transit.

A career pathway that connects the business world with agriculture production.

Agricultural education systems

A career pathway that provides the foundational knowledge for careers in all other pathways. Careers in this path develop citizens with agricultural industry general knowledge and technical skills in both the public and private sectors.

Agricultural technology systems

A career pathway for programming, data analysis, and technology development.

A career pathway that includes opportunities to work directly with animals or the products that come from animals.

A graphical representation of data using bars or strips either vertically or horizontally oriented.

A career pathway in which scientists and engineers use genetic composition to enhance plants, animals, and microorganisms to increase the world’s access to safe and affordable food, fiber, and natural resources.

A detailed plan setting out the objectives of a business, the strategy and tactics planned to achieve them, and the expected profits, usually over a period of three to ten years.

A naming convention for spreadsheets that uses the intersection of the column and row as the name of the cell.

A vertical line on a spreadsheet used for cell reference. They are referenced by letters.

Electronic trade or the buying and selling of products and services via the internet.

An individual who organizes a business; a risk taker and profit seeker.

Environmental service system

A career pathway that works to make the Earth cleaner and healthier, including recycling, pollution control, waste disposal, and public health issues.

The spreadsheet program available through the Microsoft Corporation.

Food products and processing system

A career pathway using foods' physical, biological, and chemical makeup to improve the food available to humans.

A graphical display of data points connected by line segments.

The process of determining a market's factors, conditions, and characteristics.

Tool used to investigate a product or service in a geographical area, including consumer needs and preferences.

Agribusiness Unit 1 Flashcards

Student preview

64 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Agribusiness

Back

The exchange of goods and services in the agriculture, food, and natural resource system.

2.

FLASHCARD QUESTION

Front

Asset

Back

Physical or financial property that has value and is owned by a business or individual.

3.

FLASHCARD QUESTION

Front

Business

Back

A person, partnership, or corporation engaged in commerce, manufacturing, or a service; profit-seeking enterprise or concern.

4.

FLASHCARD QUESTION

Front

Business structure

Back

Arrange how owners share assets, income, debts, and liabilities across owners.

5.

FLASHCARD QUESTION

Front

Capital

Back

Wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.

6.

FLASHCARD QUESTION

Front

Consumer

Back

A person or organization that uses a commodity or service. The final step of the value chain.

7.

FLASHCARD QUESTION

Front

Cooperative

Back

Business organization in which profits are distributed as patronage refunds and all members have a single vote.

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