FABM 1 QUIZ

FABM 1 QUIZ

9th Grade

15 Qs

quiz-placeholder

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FABM 1 QUIZ

FABM 1 QUIZ

Assessment

Quiz

Other

9th Grade

Practice Problem

Medium

Created by

Kelly Alvstad

Used 3+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 4 pts

What is essential for farmers, ranchers, and other agribusiness people to learn?

Operating on a daily basis

Managing the business

Planting crops

Harvesting

2.

MULTIPLE CHOICE QUESTION

45 sec • 4 pts

What are the three main functions of farm or ranch management?

Planting, harvesting, selling

Planning, implementing, evaluating

Marketing, finance, labor

Buying, selling, trading

3.

MULTIPLE CHOICE QUESTION

45 sec • 4 pts

What does 'Revocability' refer to in decision-making?

The importance of decisions

The frequency of decisions

Whether a decision can be reversed

The available alternatives

4.

MULTIPLE CHOICE QUESTION

45 sec • 4 pts

What is an example of defining the problem in decision-making?

Use budgeting tools

Own your combine versus custom harvest

Accept responsibility for the decision made

Evaluate the consequences

5.

MULTIPLE CHOICE QUESTION

45 sec • 4 pts

What is the purpose of evaluating alternative solutions?

To ignore financial statements

To use budgeting tools and techniques

To avoid making decisions

To disregard goals and objectives

6.

MULTIPLE CHOICE QUESTION

45 sec • 4 pts

What is the role of managers in decision-making under uncertainty?

To select the alternative with the least risk

To ignore possible outcomes

To make decisions under conditions of uncertainty

To avoid making any decisions

7.

MULTIPLE CHOICE QUESTION

45 sec • 4 pts

What should Swenson do after choosing an alternative?

Ignore the results

Evaluate the action constantly

Stop evaluating the action

Sell the farm

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