Agribusiness and Marketing

What is agribusiness?

• The business of agricultural production

• A type of financial investment

• A method of crop rotation

• A form of government subsidy

Tags

NGSS.HS-LS2-7

True or False? Capital is the financial and material resources a business has available to use.

• True

• False

True or False? The goal of agribusiness to maximize the output while minimizing the input is known as diminishing returns.

• True

• False

What is the production of many types of commodities known as?

• Profit maximization

• Agricultural specialization

• Diversification

• Supply and demand

Agricultural producers may receive _____ from the government to help stabilize the market for specific products.

• subsidies

• taxes

• penalties

• loans

Tags

NGSS.HS-ETS1-3

The group of consumers that are likely to purchase a specific product are called the _____.

• market

• supplier

• manufacturer

• retailer

List the four basic market structures common in agribusiness.

• Perfect competition, monopolistic competition, oligopoly, monopoly

• Supply, demand, equilibrium, surplus

• Profit, loss, revenue, cost

• Agriculture, industry, services, technology

What is the difference between a market and a niche market?

• A market is larger and less specific than a niche market

• A niche market is larger and less specific than a market

• A market is only for agricultural products

• A niche market is only for luxury goods

The amount of money that a business earns over its expenses is called its _____.

• cash sales

• capital sales

• profit

• capital purchase

What is the difference between current and noncurrent assets?

• Current assets are long-term, noncurrent are short-term

• Current assets are short-term, noncurrent are long-term

• Both are short-term

• Both are long-term