FBLA Agribusiness – TEST | Questions and Correct Answers | latest Update 2025/2026 | Graded A+

FBLA Agribusiness – TEST | Questions and Correct Answers | latest Update 2025/2026 | Graded A+ The price of beef goes up in the grocery store due to a shortage of beef production in the country. This represents the economic concept of: - Answer -supply and demand A well-known restaurant chain has an outbreak of salmonella poisoning from tomatoes. The customer response to this situation represents economic - Answer -elasticity The country whose per capita consumes the greatest amount of pork is: - Answer -Denmark _________ consists of real estate (land), building, house, and various types of improvements to real estate. - Answer -real property A depreciable asset's book value will equal its salvage value: - Answer - only at the end of the useful life A farmer increases an investment in land, building, and equipment to increase the total units of production. The cost per unit of production - Answer -decreasesThe most important reason of complete farm financial records should be: - Answer -to combine with production records to provide information for management decision making Marian and Sara borrow $175,000 on Ma