This quiz works best with JavaScript enabled. Home > Business > Agribusiness > Agribusiness – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Agribusiness Quiz 8 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. In the early 1900s many towns developed around the discovery of oil, this is called a A) Boomtown. B) Bust town. C) Ghost town. D) Progressive town. Show Answer Correct Answer: A) Boomtown. 2. When analyzing competing products or services, which is not a function? A) Price. B) Quality. C) Service. D) Supply. Show Answer Correct Answer: D) Supply. 3. The quantity of a product that is available to buyers at a given time A) Supply. B) Credit. C) Demand. D) Economics. Show Answer Correct Answer: A) Supply. 4. What is the top agricultural commodity in the US? A) Beef. B) Dairy Products. C) Poultry. D) Corn. Show Answer Correct Answer: A) Beef. 5. How does a business/sender know that their message/promotion was successful? A) Feedback (attendance, contributions, purchases). B) Shares on social media. C) Cash sales only. D) Advertisements. Show Answer Correct Answer: A) Feedback (attendance, contributions, purchases). 6. Which of the following is true about net income? A) It is the amount of income after cost of goods are deducted. B) It is also known as "pre tax". C) It raises fees on interest rates. D) It improves credit scores. Show Answer Correct Answer: A) It is the amount of income after cost of goods are deducted. 7. It is occupational cluster, which focuses in creating and going into business in agriculture. A) Agriculture. B) Agribusiness. C) Economics. D) None of above. Show Answer Correct Answer: B) Agribusiness. 8. Which of the following is NOT a true statement about partial budgets? A) Allows for hiring custom work. B) Modifies production practice. C) Adopts new technologies. D) Includes resources which cannot change. Show Answer Correct Answer: D) Includes resources which cannot change. 9. What is an asset? A) What you own. B) What you owe. C) Prize possession. D) None of above. Show Answer Correct Answer: A) What you own. 10. An example of a Placement SAE is: A) Working for Tractor Supply daily after school and on weekends. B) Raising and showing market lambs at the county fair. C) Conducting a research project on the best type of fertilizer for tomatoes. D) Planning a community service event for your FFA chapter. Show Answer Correct Answer: A) Working for Tractor Supply daily after school and on weekends. 11. The country who consumes the greatest amount of pork per capita is A) Denmark. B) Hong Kong. C) United States. D) Argentina. Show Answer Correct Answer: A) Denmark. 12. In the agricultural market, ..... is determined by either supply or demand. A) Products. B) Beef. C) Price. D) Surplus. Show Answer Correct Answer: C) Price. 13. ..... consists of real estate (land), buildings, house, and various types of improvements to real estate A) Suburban property. B) Personal property. C) Agricultural property. D) Real property. Show Answer Correct Answer: D) Real property. 14. Capital is defined by..... A) Equipment, factories, or money used to produce goods or services. B) Equipment, people, and banks used to produce goods or services. C) Not sure. D) Factories and money only. Show Answer Correct Answer: A) Equipment, factories, or money used to produce goods or services. 15. How many GMO approved crops are there currently? A) 10. B) 25. C) 75. D) 120. Show Answer Correct Answer: A) 10. 16. SWOT analysis involves considering all of the following elements EXCEPT A) Weakness. B) Strength. C) Training. D) Opportunities. Show Answer Correct Answer: C) Training. 17. The use of a net worth statement can allow a person to determine such financial factors as liquidity and solvency. The overall equity of a farm firm can be determined through what calculation from the balance sheet? A) Total Assets- Total Liabilities. B) Total Current Assets- Total Current Liabilities. C) Net Worth- Total Liabilities. D) Total Farm Liabilities + Net Worth. Show Answer Correct Answer: A) Total Assets- Total Liabilities. 18. What is the top state for Dairy Production? A) New York. B) Pennsylvania. C) California. D) Wisconson. Show Answer Correct Answer: C) California. 19. Who famously predicted that the earth would not be able to support its growing population, but technologies such as the Green Revolution have allowed the world to produce a surplus of food A) Jeremy Bentham. B) John Stuart Mill. C) Thomas Robert Malthus. D) David Ricardo. Show Answer Correct Answer: C) Thomas Robert Malthus. 20. How is net worth calculated? A) Net worth = assets - liabilities. B) Net worth = liabilities - assets. C) Net worth = net Income - gross Income. D) Net worth = liabilities + assets. Show Answer Correct Answer: A) Net worth = assets - liabilities. ← PreviousNext →Related QuizzesBusiness QuizzesAgribusiness Quiz 1Agribusiness Quiz 2Agribusiness Quiz 3Agribusiness Quiz 4Agribusiness Quiz 5Agribusiness Quiz 6Agribusiness Quiz 7Agribusiness Quiz 9Agribusiness Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books