AGEC 318 - Exam 1 with Questions and Correct Answers GRADED A+.

AGEC 318 - Exam 1 with Questions and
Correct Answers 2025-2026 GRADED A+




True ,- ,CORRECT ,ANSWER-True ,or ,False: ,PESTLE ,is ,an ,example ,of ,an ,external
,analysis.


Economic ,Profits, ,Environmental ,Outcomes, ,Social ,Outcomes ,- ,CORRECT
,ANSWER-According ,to ,the ,reading ,"Agribusiness ,Organization ,and
,Management", ,what ,is ,the ,triple ,bottom ,line ,in ,regards ,to ,sustainability ,in
,agribusiness?


Controlling ,- ,CORRECT ,ANSWER-"Concerns ,giving ,management ,feedback ,on
,the ,firm's ,progress ,toward ,the ,goals ,set" ,is ,the ,definition ,of ,what ,task ,of
,management?


Supply ,Chain ,Management ,- ,CORRECT ,ANSWER-Logistics ,Management, ,which
,is ,figuring ,out ,how ,to ,store ,and ,transport ,goods ,is ,a ,part ,of ,which ,FUNCTION
,(Not ,task) ,of ,management


Marketing, ,Financial, ,Supply ,Chain, ,Human ,Resources ,- ,CORRECT ,ANSWER-
The ,four ,functions ,of ,management ,are:

Food ,as ,a ,product,
Biological ,nature ,of ,products,
Seasonal ,nature ,of ,business, ,and
Weather ,- ,CORRECT ,ANSWER-What ,sets ,an ,agribusiness ,apart ,from ,a ,regular
,(non-agricultural) ,business?


Planning ,- ,CORRECT ,ANSWER-Which ,task ,of ,management ,tends ,to ,be ,the
,30,000 ,foot ,view ,of ,the ,business?


Directing ,- ,CORRECT ,ANSWER-Which ,managerial ,task ,does ,a ,manager ,spend
,most ,of ,their ,time ,on?


Planning, ,Organizing, ,Controlling, ,Directing ,- ,CORRECT ,ANSWER-The ,four
,tasks ,of ,management ,are:

, True ,- ,CORRECT ,ANSWER-True ,or ,False: ,The ,first ,step ,in ,the ,agricultural
,supply ,chain ,is ,input ,suppliers.


Increased ,Processing ,and ,value ,added ,after ,the ,product ,leaves ,the ,farm. ,-
,CORRECT ,ANSWER-Why ,has ,the ,farmer's ,share ,of ,the ,marketing ,dollar ,been
,decreasing?


The ,Unifying ,Theme ,- ,CORRECT ,ANSWER-The ,goal ,of ,every ,manager ,is
,tomaximize ,the ,long-run ,profits ,of ,the ,firm ,byprofitably ,satisfying ,customers'
,needs


Marketing ,Management ,- ,CORRECT ,ANSWER-Understanding ,customer ,needs
,and ,effectively ,positioning ,and ,selling ,products ,and ,services ,in ,the
,marketplace. ,Closest ,function ,of ,management ,to ,the ,customer. ,How, ,why,
,when, ,where, ,and ,who?


Financial ,Management ,- ,CORRECT ,ANSWER-Generating ,the ,data ,needed ,to
,make ,good ,decisions, ,using ,the ,tools ,of ,finance ,to ,make ,effective ,decisions,
,and ,managing ,assets,liabilities, ,and ,owner's ,investment ,in ,the ,firm. ,Accounting
,(Balance ,Sheets, ,Income ,Statements). ,Investment ,decisions. ,Ratio ,analysis


Supply ,Chain ,Management ,- ,CORRECT ,ANSWER-Pushing ,for ,quality, ,lower
,costs, ,and ,making ,production ,more ,efficient ,in ,meeting ,consumer ,demands. ,
Operations ,management. ,Direction ,and ,control ,of ,the ,processes ,used ,to
,produce ,the ,goods ,and ,services. ,
Logistics ,management. ,The ,set ,of ,activities ,around ,storing ,and ,transporting
,goods ,and ,services


Human ,Resource ,Management ,- ,CORRECT ,ANSWER-The ,mechanics ,of ,the
,personnel ,administration, ,and ,the ,finer ,points ,of ,motivating ,people ,to ,offer ,and
,contribute ,their ,maximum ,potential. ,How ,to ,organize ,the ,firm. ,How ,to ,motivate
,employees. ,How ,to ,hire ,employees. ,How ,to ,compensate ,them


The ,Ag ,Value ,Chain ,- ,CORRECT ,ANSWER-Ag ,input ,manufacturers ,-> ,Ag
,retailers ,-> ,farmers ,-> ,first ,handlers/ ,food ,processors ,-> ,food ,manufacturers ,->
,food ,retailers


Food ,Sector ,- ,CORRECT ,ANSWER-Food ,processing, ,marketing, ,distribution,
,restaurants. ,Closest ,to ,consumer


Production ,Ag ,Sector ,- ,CORRECT ,ANSWER-Crop ,and ,livestock ,outputs.
,"Farms"