S1 Agribusiness Final Exam

A Business Metric is a:

• Long term business goals set for expansion and growth

• An accounting of business growth over a period of years

• Measurable indicator that is used to provide information about a specific business process

• A deviation of standard growth signaling problems within a business entity

A _______ is the difference in the amount of money charged for a product and the cost of making and selling that product.

• Price Point

• Breakeven Price

• Revenue Margin

• Profit Margin

___________ is the process of gaining new customers through advertising and other forms of customer recruitment.

• Customer Lifetime Value (CLV)

• Customer acquisition

• Customer analytics

• Customer targeting

________________ is the number of employees that leave the business over a given period of time compared to the total number of employees.

• Employability Index

• Employability Ratio

• Employee turnover rate

• Management Hiring Rates

A grain farmer concerned about the production costs associated with the amount of grain produced would likely use which of the following performance indicators:

• Yield/acre

• Production costs/long term investment

• Yield/Cost Per Acre

• Production cost/total cost invested

A ______________ is a business entity with a single owner or operator.

• Sole Proprietorship

• Partnership

• Franchise

• Single Corporation

A ____________ is a legal form of business ownership where two or more people share management and profits.

• Sole Proprietorship

• Partnership

• Franchise

• Corporation

In a _________________ a partner will provide capital but is only responsible for business debts up to the amount they have invested.

• Franchise

• Limited Partnership

• At Will Partnership

• Limited liability company

The parent company that sells the right to use its name and sell its product is a ______________.

• Franchisor

• Franchisee

• Royalty Partner

• Silent Partner

A(n) _____________ is a business agreement between two individuals that may be dissolved or modified at any time

• Ad hoc agreement

• Operating partnership

• Franchise Agreement

• At will partnership