AG / BUS 2

What is entrepreneurship primarily concerned with?

• Managing a team

• Setting up a business and taking financial risks

• Studying societal resource allocation

• Promoting products

Which term describes the knowledge necessary to make informed financial decisions?

• Marketing

• Financial literacy

• Supply and demand

• Profit margin

What does the term 'supply and demand' explain?

• The cost of production versus selling price

• The availability of a product and its effect on price

• Financial projections in a business plan

• Gathering market information

What is the main focus of a business plan?

• Hiring and training employees

• Outlining the goals, strategies, and financial projections of a business

• Promoting and selling products

• Managing money and investments

What is the role of human resources in a business?

• Managing financial transactions

• Producing agricultural products

• Hiring, training, and developing employees

• Analyzing market trends

What is the purpose of adding fertilizer to soil or plants?

• To control pests

• To provide essential nutrients that promote plant growth

• To gather mature crops

• To raise domesticated animals

What does the term 'pesticide' refer to?

• Substances that enhance animal growth

• Tools used for harvesting crops

• Chemicals used to control or eliminate pests like insects, weeds, and diseases

• Methods used in animal husbandry

What is the process of 'harvest'?

• The practice of raising grazing animals

• The process of gathering mature crops from the fields

• The method of fertilizing soil

• The technique of pest control

What does 'ranching' primarily involve?

• Growing crops on large scales

• Raising grazing animals, such as cattle or sheep, on large areas of land

• Producing fertilizers for agricultural use

• Developing pesticides for crop protection