AGEC 340 EXAM 1 questions and answers
2026\2027 A+ Grade
Four key functions of managment
- correct answer Marketing, Financial, Supply Chain, and Human Resource mgmt
Marketing management definition
- correct answer the process by which products flow through the US food system from producer to final
consumer
Key aspects of Marketing managment
- correct answer -understanding customer needs and effectively positioning and selling products and
services in the marketplace.
-requires selling, advertising, web page design, and pricing.
-everything is focused on costumer needs and wants, quest for customer satisfaction.
Financial management key aspects
- correct answer -Profit is the driver for agribusiness as they work to generate the greatest possible
returns from their resources.
-generating the data needed to make good decisions, using the tools of finance to make effective
decisions, and managing the assets, liabilities, and owners' investments in the firm.
what allows managers to understand the current "health" of the firm, and to determine what actions to
take to improve?
- correct answer Financial information
What is another way in which the financial agribusiness scene changes?
- correct answer in the sourcing of funds
,three types of supply chain managment
- correct answer supply chain mgmt
operations mgmt
logistics mgmt
which management focuses on quality, lower costs, changes in the supply chain, and general pressures
to be more efficient while providing the tools managers need to meet these operation and logistical
challenges?
- correct answer supply chain mgmt
which management focuses on the direction and the control of the processes used to produce the goods
and services that we buy and use each day through strategic use and movement of resources? and what
are some of its issues?
- correct answer operations management, some issues include scheduling, controlling, storing, and
shipping.
which management involves the set of activities around storing and transporting goods and services?
What are they trying on ways to lower costs?
- correct answer Logistics management, shipping and inventory costs are huge, logistics mgmt is
focusing on lowering them
management is about
- correct answer people
human resource mgmt encompasses managing what two areas:
- correct answer -the mechanics of the personnel administration, and
-the finer points of motivating people to offer and contribute their maximum potential.
How to organize a firm, where to find people, how to hire them, and how to compensate them and how
to evaluate them are issues to what mgmt?
- correct answer human resource mgmt
what 8 things make agriculture unique?
- correct answer following 8 cards
, food is vital to the --------and----- of every------- .
- correct answer health, survival, individual
------nature of agriuclture product brings----- to ------- challenges
- correct answer Biological, rise, unique
-------affects both supply and ----
- correct answer Seasonality, demand
-----uncertainty is a constant ----- for most -------
- correct answer wheater, threat, agribusiness
there is a ------- variety across the types of ------ in the ------ and agribusiness sectors.
- correct answer tremendous, business, food
there is a ----- range of market----- and -------
- correct answer wide, conditions, structures
ties to ----- towns and ---- areas
- correct answer small, rural
the ------- has a fundamental ----- in food and agribusiness
- correct answer government, role
The US food production and marketing system is divided into three sectors which are? AKA as?
- correct answer input supply sector
production sector
food sector
AKA as an agricultural supply chain
2026\2027 A+ Grade
Four key functions of managment
- correct answer Marketing, Financial, Supply Chain, and Human Resource mgmt
Marketing management definition
- correct answer the process by which products flow through the US food system from producer to final
consumer
Key aspects of Marketing managment
- correct answer -understanding customer needs and effectively positioning and selling products and
services in the marketplace.
-requires selling, advertising, web page design, and pricing.
-everything is focused on costumer needs and wants, quest for customer satisfaction.
Financial management key aspects
- correct answer -Profit is the driver for agribusiness as they work to generate the greatest possible
returns from their resources.
-generating the data needed to make good decisions, using the tools of finance to make effective
decisions, and managing the assets, liabilities, and owners' investments in the firm.
what allows managers to understand the current "health" of the firm, and to determine what actions to
take to improve?
- correct answer Financial information
What is another way in which the financial agribusiness scene changes?
- correct answer in the sourcing of funds
,three types of supply chain managment
- correct answer supply chain mgmt
operations mgmt
logistics mgmt
which management focuses on quality, lower costs, changes in the supply chain, and general pressures
to be more efficient while providing the tools managers need to meet these operation and logistical
challenges?
- correct answer supply chain mgmt
which management focuses on the direction and the control of the processes used to produce the goods
and services that we buy and use each day through strategic use and movement of resources? and what
are some of its issues?
- correct answer operations management, some issues include scheduling, controlling, storing, and
shipping.
which management involves the set of activities around storing and transporting goods and services?
What are they trying on ways to lower costs?
- correct answer Logistics management, shipping and inventory costs are huge, logistics mgmt is
focusing on lowering them
management is about
- correct answer people
human resource mgmt encompasses managing what two areas:
- correct answer -the mechanics of the personnel administration, and
-the finer points of motivating people to offer and contribute their maximum potential.
How to organize a firm, where to find people, how to hire them, and how to compensate them and how
to evaluate them are issues to what mgmt?
- correct answer human resource mgmt
what 8 things make agriculture unique?
- correct answer following 8 cards
, food is vital to the --------and----- of every------- .
- correct answer health, survival, individual
------nature of agriuclture product brings----- to ------- challenges
- correct answer Biological, rise, unique
-------affects both supply and ----
- correct answer Seasonality, demand
-----uncertainty is a constant ----- for most -------
- correct answer wheater, threat, agribusiness
there is a ------- variety across the types of ------ in the ------ and agribusiness sectors.
- correct answer tremendous, business, food
there is a ----- range of market----- and -------
- correct answer wide, conditions, structures
ties to ----- towns and ---- areas
- correct answer small, rural
the ------- has a fundamental ----- in food and agribusiness
- correct answer government, role
The US food production and marketing system is divided into three sectors which are? AKA as?
- correct answer input supply sector
production sector
food sector
AKA as an agricultural supply chain
