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Ag Association Intro Meeting Flashcards | StudBud
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Ag Association Intro Meeting
Ag Association Intro Meeting
20 terms
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A few quiz bowl questions to test your Agribusiness knowledge
Flashcards
20 cards
F
Practice quiz
P
Host live
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Questions
20
Answers
1
who is the author of "Wealth of Nations"
Adam Smith
Upton Sinclair
Rachel Carson
John Adams
2
What U.S. act authorized farmer-cooperatives to issue capital stock and engage in interstate trade
Sherman Anti-Trust Act
Wagner Act
Capper Volstead Act
Clayton Act
3
a function that lies everywhere below its tangent plane is said to be
homogenous
convex
pareto efficient
concave
4
what does ANOVA stand for
Again NO VAriance
After NO VAriations
ANalysis Of VAriance
Amidst Number One Vice Agent
5
Which way would the demand curve shift with a large increase in the price of public transportation
Demand shifts left
Supply shifts left
Supply shifts right
Demand shifts right
6
On the Chicago Board of Trade a corn futures contract is for what quantity of corn
5000 ears
5000 bushels
500 pounds
50 tons
7
Which is not a characteristic of perfect competition
homogenous product
barriers to entry
large number of buyers and sellers
firms are price takers
8
the adjustment basis of an asset used for tax purposes is determined by what
double declining balance
cost-less depreciation
straight line method
sum-of-years digits
9
If the price a firm can sell its product is equal to or greater than AVC, at what point will it max. profit
MB=MC
AFC
sunk cost
MC=MR
10
In game theory, what type of game exists when two players are directly competitive, or what one gains the other loses
negative-sum game
zero-sum game
competition
one-sum game
11
The underside of a horse's hoof is called
the toad
the frog
the bottom
the heel
12
costs that have already been incurred and can not be recovered are called
substitution
choke price
lost cause
sunk costs
13
If the supply curve is perfectly elastic and demand increases, what happens to equilibrium price
moves to the right
stays the same
goes down
goes up
14
The assumption that all other relevant factors are held constant when examining the influence of 1 variable in a model
all things considered
red herring
barriers to entry
ceteris paribus
15
what animal describes a trader who thinks prices will increase
bear
bobcat
tiger
bull
16
what states that as incomes rise, the share of total expenditures for food declines
engel's law
keynesian model
income theory
cobweb theorum
17
which of the following is not a type of unemployment
cyclical
structural
fractional
frictional
18
Principle states the amount of additional output from use of one or more units of input declines as more units are used
principle of diminishing returns
principle of lower inputs
principle of diminishing exports
law of diminishing marginal utility
19
the sale of products below cost in a foreign country is known as
comparative advantage
sinking
dumping
export quota
20
In Canada, what does AAFC stand for
Agricultural And Farming Citizens
Assumed Air Force Control
Agriculture and Agri-Food Canada
After America Fights Canada