1
. The business of agribusiness
Exam questions and answers
Fill in the blanks
1. What are the three sectors of the food production and marketing system?
Food sector
Production agriculture sector
Input supply sector
2. A supermarket is defined as: the conventional grocery prototype typically carries about
15,000 items in a 10,000 to 25,000 square foot store.
3. In a broad sense, marketing is focused on the process by which products flow through the
U.S. food system from producer to consumer.
4. A cooperative is a member-owned, democratically controlled business from which the
benefits are received in proportion to use.
Multiple choice
1. Key function(s) of management in agribusiness is (are):
a. Marketing management
,b. Supply chain management
c. Human resource management
d. All the above
2. In 2008, the largest component of the food marketing bill was:
a. Food processing
b. Transportation
c. Food services
d. Energy
3. The food service industry in the food sector consists of the following types of firms, except:
a. Traditional restaurants
b. Fast food/quick service
c. Institutional food service
d. Supermarkets
4. Unique dimension(s) of the food and agribusiness markets include:
a. Rural ties
b. Food as a product
c. Government involvement
d. All of the above
5. The farm input supply sector includes:
,a. Food retailing
b. Services and financing
c. Food wholesaling
d. None of the above
6. A supermarket with a pharmacy and other nonfood items, especially health and beauty care
products, that carries 25,000 items and has 40,000 sq. ft. is a:
a. Warehouse store
b. Warehouse club
c. Superstore
d. Convenience store
7. The USDA predicts that _ percent of the food dollar will be spent on food eaten away from
home by 2020.
a. 28
b. 52
c. 78
d. None of the above
8. The percentage of the population in the U.S. that is involved in production agriculture is _
percent.
a. 2
b. 17
, c. 50
d. 67
9. Which of the following is a key function of management?
a. Financing
b. Organizing
c. Controlling
d. Planning
10. The 2008 food marketing bill shows that farm share made up _ cents.
a. 4.1
b. 15.8
c. 31.2
d. 83.2
True/false
T F 1. For the U.S. consumer only about 20 percent of total personal consumption
expenditures is for food consumers eat at home.
T F 2. The share of total U.S. employment that is provided by food and agricultural
industries is 1.2 percent.
T F 3. In 2008, for every dollar spent on food, 84 cents went to the farmer.
T F 4. As defined by the United States Department of Agriculture, a farm is “any
establishment from which $1,000 or more of agricultural products were sold or
. The business of agribusiness
Exam questions and answers
Fill in the blanks
1. What are the three sectors of the food production and marketing system?
Food sector
Production agriculture sector
Input supply sector
2. A supermarket is defined as: the conventional grocery prototype typically carries about
15,000 items in a 10,000 to 25,000 square foot store.
3. In a broad sense, marketing is focused on the process by which products flow through the
U.S. food system from producer to consumer.
4. A cooperative is a member-owned, democratically controlled business from which the
benefits are received in proportion to use.
Multiple choice
1. Key function(s) of management in agribusiness is (are):
a. Marketing management
,b. Supply chain management
c. Human resource management
d. All the above
2. In 2008, the largest component of the food marketing bill was:
a. Food processing
b. Transportation
c. Food services
d. Energy
3. The food service industry in the food sector consists of the following types of firms, except:
a. Traditional restaurants
b. Fast food/quick service
c. Institutional food service
d. Supermarkets
4. Unique dimension(s) of the food and agribusiness markets include:
a. Rural ties
b. Food as a product
c. Government involvement
d. All of the above
5. The farm input supply sector includes:
,a. Food retailing
b. Services and financing
c. Food wholesaling
d. None of the above
6. A supermarket with a pharmacy and other nonfood items, especially health and beauty care
products, that carries 25,000 items and has 40,000 sq. ft. is a:
a. Warehouse store
b. Warehouse club
c. Superstore
d. Convenience store
7. The USDA predicts that _ percent of the food dollar will be spent on food eaten away from
home by 2020.
a. 28
b. 52
c. 78
d. None of the above
8. The percentage of the population in the U.S. that is involved in production agriculture is _
percent.
a. 2
b. 17
, c. 50
d. 67
9. Which of the following is a key function of management?
a. Financing
b. Organizing
c. Controlling
d. Planning
10. The 2008 food marketing bill shows that farm share made up _ cents.
a. 4.1
b. 15.8
c. 31.2
d. 83.2
True/false
T F 1. For the U.S. consumer only about 20 percent of total personal consumption
expenditures is for food consumers eat at home.
T F 2. The share of total U.S. employment that is provided by food and agricultural
industries is 1.2 percent.
T F 3. In 2008, for every dollar spent on food, 84 cents went to the farmer.
T F 4. As defined by the United States Department of Agriculture, a farm is “any
establishment from which $1,000 or more of agricultural products were sold or
