WorksheetsAgribusiness Semester Exam Review
Total questions: 50
Worksheet time: 27mins
Coupons, contests, and rebates are examples of
promotions
publicity
advertising
personal selling
Sponsoring an event for a local charity is an example of ..
promotions
publicity
advertising
personal selling
In the Farming Game, when you harvest a crop, you put your money collected in which of the following columns on your spreadsheet?
income
expense
notes payable
cash
assets
In the Farming Game, when you have to pay a bill such as a seed or fuel bill, you should place the amount in which of the following columns?
income
expense
notes payable
cash
assets
When land is inherited, the value of the land should be placed in which columns?
income
equity
notes payable
cash
assets
Which column(s) can money be added and subtracted during the game?
income
expense
notes payable
cash
assets
Which account is the equivalent to a bank loan?
income
expense
notes payable
cash
assets
Once a consumer is attracted to a product and their interest has developed, the final step in the AIDA plan is for the customer to ..
AMEND THEIR DECISION
ASSUME THE PRODUCT IS GOOD
TAKE ACTION AND BUY THE PRODUCT/ SERVICE
RESEARCH
Which of the following is a commodity?
tractor
corn
fuel
plastic
Production agriculture must occur before an agribusiness can occur.
true
false
Putting a writer's ideas in your own words
scanning
skimming
summarizing
filtering
You should bright colors in text or paper choice when preparing a resume or cover letter so that your information stands out to the company.
true
false
A resume should always include at least ___ reference(s)
1
5
6
3
Locating specific details in a text or material
scanning
skimming
summarizing
filtering
If you apply for a car loan today and a credit card account, your credit score will..
increase
decrease
remain the same
A credit score can be between ____ and ____.
0-500
300-850
250-1000
200-800
Credit cards can be beneficial in which of the following ways: (check all that apply)
build credit
decrease credit
provide immediate funds
assist in fraud monitoring
Which of the following can increase your credit score?
opening a new account
late payments
making payments in full
using your max amount of credit available
Definition of an asset is ....
something owned by someone
a piece of property with negative value
something borrowed by someone
salary after taxes and insurance are removed
Definition of net income is ....
something owned by someone
a piece of property with negative value
something borrowed by someone
salary after taxes and insurance are removed
You can view and print a credit report once a year for free.
true
false
Which of the following are examples of an agribusiness? (check all that apply)
corn maze
produce stand
row crop farm
cattle ranch
Name given to a product that is purchased and transported to other countries.
input
export
import
output
_____ assist farmers by providing a place to store a commodity until a better price is available.
tractors
grain bins
silo
grocery stores
Working for the government - local, state, or national - is considered to be _____.
private sector
public sector
In the Farming Game, when you take out a loan to buy land or cattle, you must pay a down payment of at least ___% unless you pay cash in full.
15
20
10
5
Which of the following is an example of a flexible expense?
grocery bill
property taxes
rent payment
insurance
Something that you owe on and has negative value is called ____.
liability
asset
gross income
flexible expenses
A purchase made without planning or consideration; quick decision
cost comparison
export
impulse buy
personal budget
When 2 or more products are compared before a purchase, it is called ____.
cost comparison
export
impulse buy
personal budget
assets minus liabilities =
net profit/ loss
equity
gross income
net income
income minus expenses =
net profit/ loss
equity
gross income
net income
A credit score will help a lender determine....
your reliability to repay money
savings rate
monthly income
how much you owe
Which 3 of the following are used to calculate your credit score?
annual income
amount of debt
payment history
monthly expenses
APR is the yearly interest charged on your purchases on a credit card.
true
false
A debit card will build credit and increase your credit score.
true
false
A ______ is a rate that does not fluctuate over the length of a loan.
APR
variable rate
gross rate
fixed rate
The maximum amount of money that can be charged on a credit card is called ____.
loan term
credit limit
gross term
fixed rate
Means the initial amount of money borrowed or the initial amount of money deposited in an account.
liability
note
principal
interest
The overall increase of products over time is called
depreciation
inflation
liquidity
thrift
The decrease of value of a piece of equipment or facility over time from wear and tear is called___.
depreciation
inflation
liquidity
thrift
It is better to earn compounded interest on an investment than to earn interest on the initial fixed amount.
true
false
A savings certificate issued by a bank that earns interest over a specified time period.
IRA
money market account
CD
Roth
A retirement account where an individual contributes an annual amount.
IRA
money market account
CD
Roth
How easily someone can withdraw and use their money
depreciation
inflation
liquidity
thrift
A government program used to set aside money for college prior to taxes.
IRA
529 plan
401K
money market fund
To expend money towards something with the expectation of earning a profit
investment
inflation
IRA
money market funds
When someone serves a purpose with their service or products that no one else is offering usually allowing them to expect higher pricing
specialty crop
niche market
investment lending
none of the above
You should save ____ month's pay for an emergency fund.
one
2
3
6
The FFA was established in ___.
1935
1928
1965
1998
