FBLA Agribusiness – TEST Questions and
Answers 100% Pass
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: - ✔✔supply and demand
A well-known restaurant chain has an outbreak of salmonella poisoning from tomatoes.
The customer response to this situation represents economic - ✔✔elasticity
The country whose per capita consumes the greatest amount of pork is: - ✔✔Denmark
_________ consists of real estate (land), building, house, and various types of
improvements to real estate. - ✔✔real property
A depreciable asset's book value will equal its salvage value: - ✔✔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 - ✔✔decreases
The most important reason of complete farm financial records should be: - ✔✔to
combine with production records to provide information for management decision
making
Katelyn Whitman, All Rights Reserved © 2025 1
Answers 100% Pass
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: - ✔✔supply and demand
A well-known restaurant chain has an outbreak of salmonella poisoning from tomatoes.
The customer response to this situation represents economic - ✔✔elasticity
The country whose per capita consumes the greatest amount of pork is: - ✔✔Denmark
_________ consists of real estate (land), building, house, and various types of
improvements to real estate. - ✔✔real property
A depreciable asset's book value will equal its salvage value: - ✔✔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 - ✔✔decreases
The most important reason of complete farm financial records should be: - ✔✔to
combine with production records to provide information for management decision
making
Katelyn Whitman, All Rights Reserved © 2025 1
