Ag Markets and Production

Strong market position, the company promotes, markets & distributes product

In this market competition between buyers and sellers equalises

Additional processing to increase the price paid for a product

A demand created by processed goods instead of the raw materials.

Gross margins must be measured in

When there is not enough product in the market prices go

At low prices consumers buy more, at high prices consumers buy less

A planning tool used to assess the profitability of alternative farming plans

Producers supply more product onto the market as prices increase

Production from one or more unrelated subsystems/enterprises on a farm

Dry sheep equivalent

Falling prices for farm gate product coupled with increasing production costs

Costs which change with the size of the enterprise

goods of trade

Rice Grower's is an example of a

A budget used to assess the operation of the entire business

A gross margin can be defined as

An inexpensive method of sale that allows immediate feedback from buyers

A factor which affects both supply and demand

Market price where quantity of goods demanded = quantity of goods supplied