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Agribusiness Test Study Guide
What is Gross Domestic Products?
What is Exports?
Agribusiness Test Study Guide
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1
What is Exports?
send goods or services to another country for sale
making goods and services in different country
2
What is Gross Domestic Products?
total value of goods produced & services provided in a country in one year
total cost it takes to produce goods in your country
3
What is agriservice?
activities of value to buyer or user
any business related to farming and farming related commercial activities
4
Examples of private agriservices:
farm service agency, american seed trade association
profit motive, economic freedom and private property rights
5
What is scarcity?
Very little demand for a group or service
demand for group/service thats greater than avalibility of good & service
6
What is Private Agriservice?
USA department of ag, food and drug administration, department of commerce
services offered to production agriculturalists by private firms
7
What is output?
the amount of something produced by a person or industry
what is put in or taken in by any process of service
8
What is specialization:
Becoming diverse in several topics
focusing on one task rather than multiple tasks
9
What is marketing?
the process of making producs
action or buisness of promoting and selling products or services
10
What is input?
the amount of something produced by a person or industry
what is put in or taken in by any process of service
11
what is a public agriservice?
Servicing the public with internal needs
agriculture groups that provide services at federal, state,and local levels
12
What is an output sector?
agribusiness that affects an ag commodity between production and a consumer
it affects everything going into a country
13
The American farmer produces enough to feed and clothe how many people? How does that compare to the early 1950s?
800 & 3
123 & 1
155 & 27
256 & 13
14
What is Production Agriculture?
process of sellin feed or fiber
process of producing feed food or fiber
15
What is Value added products?
change in physical state or form of the product
change in mental state of a product
16
Examples of Public Agriservice:
services offered to production agriculturalists by private firms
USA department of ag, food and drug administration, department of commerce
17
Why are most economic systems mixed?
Farming and helping get jobs
most have some portion of the means of production under government control
18
Examples of input sectors:
dogs, cats, snakes
seed, fertilizer, machinery, and fuel
19
What is an input sector?
all resources that do not involove farm commodities
all resources in producing farm commodities
20
What is inputs?
selling goods in the US
bring goods or services into a country
21
What is economic utility
ability of good or service to satisfy a customers need or want
Ability to farm grounds and create revenue
22
Free Enterprise System and the six major characteristics
economic freedom voluntary exchange priv property rights ,profit motive
capitalism, socialism, fascism, communism
23
What is agribusiness?
activities of value to buyer or user
any business related to farming and farming related commercial activities
