AGEC 340 Exam 1 Questions With Correct
Answers
Maximize |the |long-run |profits |of |the |firm |by |satisfying |customer's |needs |- |CORRECT |
ANSWER✔✔-Manager's |Primary |Objective
To |integrate |science |and |technology |to |maximize |benefits |to |farmers |and |consumers |- |
CORRECT |ANSWER✔✔-Goal |of |Agribusiness |Management
5 |Barriers |to |Consumer |Satisfaction |- |CORRECT |ANSWER✔✔-1. |Ownership |separation
2. |Time |separation
3. |Space |separation
4. |Value |separation
5. |Info |separation
inability |to |transfer |ownership |- |CORRECT |ANSWER✔✔-Ownership |Separation
Product |is |not |available |when |desired |- |CORRECT |ANSWER✔✔-Time |Separation
Product |is |not |where |consumers |need |it |- |CORRECT |ANSWER✔✔-Space |Separation
Product |is |not |in |the |form |consumers |desire |- |CORRECT |ANSWER✔✔-Value |Separation
lack |of |info |about |product |- |CORRECT |ANSWER✔✔-Info |Separation
9 |Marketing |Functions |- |CORRECT |ANSWER✔✔-Buying |& |Selling |Function
, Storage |Function
Transportation |Function
Processing |Function
Facilitating |Function
Grades |& |Standards |Function
overcome |the |separation |of |ownership |by |transferring |legal |title |of |the |product |from |the |seller
|to |buyer |- |CORRECT |ANSWER✔✔-Buying |& |Selling |Function
overcomes |the |separation |of |time |by |maintaining |product |in |good |condition |between |
production |and |final |sale |- |CORRECT |ANSWER✔✔-Storage |Function
overcomes |separation |of |space |by |moving |product |where |it |is |produced |to |where |consumers |
desire |- |CORRECT |ANSWER✔✔-Transportation |Function
overcomes |value |separation |by |transforming |a |commodity |into |a |form |that |has |greater |value |
to |consumers |- |CORRECT |ANSWER✔✔-Processing |Function
make |the |system |work |more |efficiently |- |CORRECT |ANSWER✔✔-Facilitating |Functions
overcomes |info |separation |by |providing |a |class |system |that |requires |adherence |to |specific |
descriptions |of |commodities |and |products |- |CORRECT |ANSWER✔✔-Grades |& |Standards |
Function
4 |Utilities |of |Marketing |- |CORRECT |ANSWER✔✔-Form |Utility
Place |Utility
Time |Utility
Possession |Utility
Answers
Maximize |the |long-run |profits |of |the |firm |by |satisfying |customer's |needs |- |CORRECT |
ANSWER✔✔-Manager's |Primary |Objective
To |integrate |science |and |technology |to |maximize |benefits |to |farmers |and |consumers |- |
CORRECT |ANSWER✔✔-Goal |of |Agribusiness |Management
5 |Barriers |to |Consumer |Satisfaction |- |CORRECT |ANSWER✔✔-1. |Ownership |separation
2. |Time |separation
3. |Space |separation
4. |Value |separation
5. |Info |separation
inability |to |transfer |ownership |- |CORRECT |ANSWER✔✔-Ownership |Separation
Product |is |not |available |when |desired |- |CORRECT |ANSWER✔✔-Time |Separation
Product |is |not |where |consumers |need |it |- |CORRECT |ANSWER✔✔-Space |Separation
Product |is |not |in |the |form |consumers |desire |- |CORRECT |ANSWER✔✔-Value |Separation
lack |of |info |about |product |- |CORRECT |ANSWER✔✔-Info |Separation
9 |Marketing |Functions |- |CORRECT |ANSWER✔✔-Buying |& |Selling |Function
, Storage |Function
Transportation |Function
Processing |Function
Facilitating |Function
Grades |& |Standards |Function
overcome |the |separation |of |ownership |by |transferring |legal |title |of |the |product |from |the |seller
|to |buyer |- |CORRECT |ANSWER✔✔-Buying |& |Selling |Function
overcomes |the |separation |of |time |by |maintaining |product |in |good |condition |between |
production |and |final |sale |- |CORRECT |ANSWER✔✔-Storage |Function
overcomes |separation |of |space |by |moving |product |where |it |is |produced |to |where |consumers |
desire |- |CORRECT |ANSWER✔✔-Transportation |Function
overcomes |value |separation |by |transforming |a |commodity |into |a |form |that |has |greater |value |
to |consumers |- |CORRECT |ANSWER✔✔-Processing |Function
make |the |system |work |more |efficiently |- |CORRECT |ANSWER✔✔-Facilitating |Functions
overcomes |info |separation |by |providing |a |class |system |that |requires |adherence |to |specific |
descriptions |of |commodities |and |products |- |CORRECT |ANSWER✔✔-Grades |& |Standards |
Function
4 |Utilities |of |Marketing |- |CORRECT |ANSWER✔✔-Form |Utility
Place |Utility
Time |Utility
Possession |Utility
