AGBM 102 PSU FINAL - QUESTIONS AND ANSWERS | 2026 | WITH
COMPLETE SOLUTIONS.
Many cents of $1 worth of bread goes to suppliers of NON-FARM INGREDIENTS? - (answer)2
Many cents of $1 worth of bread does the TRUCKER get? - (answer)4
Many cents of $1 worth of bread does the RETAILER get? - (answer)18
Many cents of $1 worth of bread does the BAKER get? - (answer)70
Many cents of $1 worth of bread does the FLOUR MILLER get? - (answer)2
Many cents of $1 worth of bread does the ELEVATOR OPERATOR get? - (answer)0
How many cents of $1 worth of bread does a FARMER get? - (answer)4
Wisconsin produces a lot of hard cheese (e.g., cheddar) because:
a
"Cheese heads" live in Wisconsin and they like to consume lots of cheese
b
Major centers of population are far away from Wisconsin,so it makes sense to use milk in this way
c
Dairy farmers in Wisconsin have been making hard cheese for a long time and don't want to change
d
It's cold a lot of the time in Wisconsin so using the milk available to make hard cheese is less costly -
(answer)B. Major centers of population are far away from Wisconsin,so it makes sense to use milk in this
way
Chickens used to produce eggs are much more scattered throughout the US than chickens raised for
meat because:
,AGBM 102 PSU FINAL - QUESTIONS AND ANSWERS | 2026 | WITH
COMPLETE SOLUTIONS.
a
Unlike egg production, raising chickens for meat requires specialized knowledge and equipment
b
Only people who live in certain parts of the country like to raise chickens for meat
c
There is a long tradition of raising chickens for eggs in many parts of the US
d
Eggs are fragile and difficult to transport, so it makes sense for production to be more scattered -
(answer)d. Eggs are fragile and difficult to transport, so it makes sense for production to be more
scattered
Which of the following is NOT a type of utility provided by markets in the food system?
a
Financial
b
Form
c
Place
d
Time - (answer)a
Financial
Which of the following agents receives the largest share of a dollar's worth of bread?
a
Retailer
b
Baker
,AGBM 102 PSU FINAL - QUESTIONS AND ANSWERS | 2026 | WITH
COMPLETE SOLUTIONS.
c
Farmer
d
Miller - (answer)b
Baker
The case study on processing frozen peas shows that:
a
it is important to purchase peas when they're cheap
b
it is important to manage carefully the supply of fresh peas to the processing plant
c
processing other fresh vegetables is more important than peas
d
it is important to store fresh peas for processing later - (answer)b
it is important to manage carefully the supply of fresh peas to the processing plant
Which of the following accounts for the largest share of marketing costs for US food products?
a
Profits
b
Transportation
c
Labor
d
Energy - (answer)c
Labor
, AGBM 102 PSU FINAL - QUESTIONS AND ANSWERS | 2026 | WITH
COMPLETE SOLUTIONS.
Which of the following statements is NOT correct
a
The long-term trend in the US is towards less consumption of beef per person
b
The majority of consumers do not seem to change their consumption of beef when its price changes
c
Concerns over the health implications of consuming red meat have probably contributed to a fall in beef
consumption
d
As beef consumption has declined US consumers have switched to consuming pork - (answer)d
As beef consumption has declined US consumers have switched to consuming pork
If bad weather leads to a smaller wheat crop, we would expect this to cause:
a
A change in demand for wheat
b
A change in the quantity of wheat demanded - (answer)b
A change in the quantity of wheat demanded
If the price of other oilseeds falls, we would expect this to lead to:
a
A change in demand for soybeans
b
A change in the quantity of soybeans demanded - (answer)a
A change in demand for soybeans
COMPLETE SOLUTIONS.
Many cents of $1 worth of bread goes to suppliers of NON-FARM INGREDIENTS? - (answer)2
Many cents of $1 worth of bread does the TRUCKER get? - (answer)4
Many cents of $1 worth of bread does the RETAILER get? - (answer)18
Many cents of $1 worth of bread does the BAKER get? - (answer)70
Many cents of $1 worth of bread does the FLOUR MILLER get? - (answer)2
Many cents of $1 worth of bread does the ELEVATOR OPERATOR get? - (answer)0
How many cents of $1 worth of bread does a FARMER get? - (answer)4
Wisconsin produces a lot of hard cheese (e.g., cheddar) because:
a
"Cheese heads" live in Wisconsin and they like to consume lots of cheese
b
Major centers of population are far away from Wisconsin,so it makes sense to use milk in this way
c
Dairy farmers in Wisconsin have been making hard cheese for a long time and don't want to change
d
It's cold a lot of the time in Wisconsin so using the milk available to make hard cheese is less costly -
(answer)B. Major centers of population are far away from Wisconsin,so it makes sense to use milk in this
way
Chickens used to produce eggs are much more scattered throughout the US than chickens raised for
meat because:
,AGBM 102 PSU FINAL - QUESTIONS AND ANSWERS | 2026 | WITH
COMPLETE SOLUTIONS.
a
Unlike egg production, raising chickens for meat requires specialized knowledge and equipment
b
Only people who live in certain parts of the country like to raise chickens for meat
c
There is a long tradition of raising chickens for eggs in many parts of the US
d
Eggs are fragile and difficult to transport, so it makes sense for production to be more scattered -
(answer)d. Eggs are fragile and difficult to transport, so it makes sense for production to be more
scattered
Which of the following is NOT a type of utility provided by markets in the food system?
a
Financial
b
Form
c
Place
d
Time - (answer)a
Financial
Which of the following agents receives the largest share of a dollar's worth of bread?
a
Retailer
b
Baker
,AGBM 102 PSU FINAL - QUESTIONS AND ANSWERS | 2026 | WITH
COMPLETE SOLUTIONS.
c
Farmer
d
Miller - (answer)b
Baker
The case study on processing frozen peas shows that:
a
it is important to purchase peas when they're cheap
b
it is important to manage carefully the supply of fresh peas to the processing plant
c
processing other fresh vegetables is more important than peas
d
it is important to store fresh peas for processing later - (answer)b
it is important to manage carefully the supply of fresh peas to the processing plant
Which of the following accounts for the largest share of marketing costs for US food products?
a
Profits
b
Transportation
c
Labor
d
Energy - (answer)c
Labor
, AGBM 102 PSU FINAL - QUESTIONS AND ANSWERS | 2026 | WITH
COMPLETE SOLUTIONS.
Which of the following statements is NOT correct
a
The long-term trend in the US is towards less consumption of beef per person
b
The majority of consumers do not seem to change their consumption of beef when its price changes
c
Concerns over the health implications of consuming red meat have probably contributed to a fall in beef
consumption
d
As beef consumption has declined US consumers have switched to consuming pork - (answer)d
As beef consumption has declined US consumers have switched to consuming pork
If bad weather leads to a smaller wheat crop, we would expect this to cause:
a
A change in demand for wheat
b
A change in the quantity of wheat demanded - (answer)b
A change in the quantity of wheat demanded
If the price of other oilseeds falls, we would expect this to lead to:
a
A change in demand for soybeans
b
A change in the quantity of soybeans demanded - (answer)a
A change in demand for soybeans
