AGEC 314 (questions well answered)
correctly solved
What is ag marketing? - correct answer ✔✔includes all the steps in moving an agricultural
product from the farmer to the consumer.
what does it involve? - correct answer ✔✔Planning, organizing, directing, and handling
agricultural products in such a way as to satisfy farmers, intermediaries, and consumers
economics is - correct answer ✔✔broadly defined as the study of the allocation of scarce
resources.
Value-added process- production creates... - correct answer ✔✔utility- the process of making
useful goods and services
four types of utility - correct answer ✔✔Form utility
place utility
time utility
possession utility
holding food/material from periods of relative plenty to periods of relative scarcity - correct
answer ✔✔time utility
activities that assist the consumer in acquiring and taking title to desired products - correct
answer ✔✔possession utility
,moving products to more optimal locations for the next stage of the process - correct answer
✔✔place utility
changing raw materials into something useful that consumers are
willing to pay for - correct answer ✔✔form utility
agribusiness is a business involved in - correct answer ✔✔the agricultural marketing system
features of an agricultural market - correct answer ✔✔• Continuous flows and adjustments of
orders and products
• Biological lag - a feature of an ag market that separates it from other markets
• Gradual change involving new products, new methods, and new systems of
marketing and procurement
• Global nature⚬ Mustpayattentiontoimportandexportmarkets
steps of marketing channel - correct answer ✔✔input supplier,
production
assembly processing
wholesaling
retailing
consumption
flow of payments and consumer preference information goes what direction - correct answer
✔✔right to left
flow of product and quality information goes what direction - correct answer ✔✔left to right
, the performance of ALL BUSINESS activities involved in the forward flow of goods and services
from producers to consumers - correct answer ✔✔Macro marketing
what does macro marketing focuses on? - correct answer ✔✔Focuses on the "who" and "what"
questions
what are the three macro approaches to Ag marketing - correct answer ✔✔-Institutional
Approach
-Functional Approach
-Behavioral Systems Approach
institutional approach - correct answer ✔✔emphasizes KEY institutions and institutional
players.
the WHO of marketing
Functional Approach - correct answer ✔✔Emphasizes functions performed in marketing
WHAT gets done
Behavioral Systems Approach - correct answer ✔✔Combines institutional and functional
approaches
Focuses on the interdependence and coordination of all the participants and all the functions of
the new system
Who does what in an Institutional Approach? - correct answer ✔✔• Merchant Middlemen
• Agent Middlemen
• Speculators
• Processors and Manufacturers
• Facilitative Organizations
correctly solved
What is ag marketing? - correct answer ✔✔includes all the steps in moving an agricultural
product from the farmer to the consumer.
what does it involve? - correct answer ✔✔Planning, organizing, directing, and handling
agricultural products in such a way as to satisfy farmers, intermediaries, and consumers
economics is - correct answer ✔✔broadly defined as the study of the allocation of scarce
resources.
Value-added process- production creates... - correct answer ✔✔utility- the process of making
useful goods and services
four types of utility - correct answer ✔✔Form utility
place utility
time utility
possession utility
holding food/material from periods of relative plenty to periods of relative scarcity - correct
answer ✔✔time utility
activities that assist the consumer in acquiring and taking title to desired products - correct
answer ✔✔possession utility
,moving products to more optimal locations for the next stage of the process - correct answer
✔✔place utility
changing raw materials into something useful that consumers are
willing to pay for - correct answer ✔✔form utility
agribusiness is a business involved in - correct answer ✔✔the agricultural marketing system
features of an agricultural market - correct answer ✔✔• Continuous flows and adjustments of
orders and products
• Biological lag - a feature of an ag market that separates it from other markets
• Gradual change involving new products, new methods, and new systems of
marketing and procurement
• Global nature⚬ Mustpayattentiontoimportandexportmarkets
steps of marketing channel - correct answer ✔✔input supplier,
production
assembly processing
wholesaling
retailing
consumption
flow of payments and consumer preference information goes what direction - correct answer
✔✔right to left
flow of product and quality information goes what direction - correct answer ✔✔left to right
, the performance of ALL BUSINESS activities involved in the forward flow of goods and services
from producers to consumers - correct answer ✔✔Macro marketing
what does macro marketing focuses on? - correct answer ✔✔Focuses on the "who" and "what"
questions
what are the three macro approaches to Ag marketing - correct answer ✔✔-Institutional
Approach
-Functional Approach
-Behavioral Systems Approach
institutional approach - correct answer ✔✔emphasizes KEY institutions and institutional
players.
the WHO of marketing
Functional Approach - correct answer ✔✔Emphasizes functions performed in marketing
WHAT gets done
Behavioral Systems Approach - correct answer ✔✔Combines institutional and functional
approaches
Focuses on the interdependence and coordination of all the participants and all the functions of
the new system
Who does what in an Institutional Approach? - correct answer ✔✔• Merchant Middlemen
• Agent Middlemen
• Speculators
• Processors and Manufacturers
• Facilitative Organizations
