AGEC 101 EXAM 1 UWRF QUESTIONS
What are the six parts of the global agri-food system? - Answers - Food distributors,
food manufacturers, commodity processors, producers, input suppliers and food
retailers
Which of the following is an example of a commodity?
A. Pasta
B. Flour
C. Bread
D. Wheat - Answers - D. Wheat
T/F The study of agriculture only pertains to farm activities - Answers - False
T/F Farm Labor accounts for 1% of the nations GDP - Answers - True
The number of farms in the U.S has been increasing over the last century. - Answers -
False
T/F The average size of farms has been decreasing in the last century. - Answers -
False
The majority of farms in the U.S: - Answers - Earn less than $350,000 in sales
Six parts of Kinsey's heicharchy - Answers - Good taste, variety, convenience, live
well, status, social cause, nutritious, safe, affordable, promote health
T/F The % of income spent on food is decreasing. - Answers - True
T/F Globally, more agricultural land is used as pasture than arable land. - Answers -
True
Who receives the largest portion of a dollar spent on food? - Answers - Labor
Roughly what percent of the dollar spent on food goes to farmers and producers? -
Answers - 7.8%
What is the difference between technical efficiency and economical efficiency? -
Answers - Technical efficiency is increasing the amount of output per unit and
economic efficiency is funding profitable ways to apply new technology.
What is not one of the four functions of management?
Controlling, analyzing, planning, directing, or organizing? - Answers - Analyzing
Which of the four functions involves forecasting consumer demand and business
conditions? - Answers - Planning
What are the six parts of the global agri-food system? - Answers - Food distributors,
food manufacturers, commodity processors, producers, input suppliers and food
retailers
Which of the following is an example of a commodity?
A. Pasta
B. Flour
C. Bread
D. Wheat - Answers - D. Wheat
T/F The study of agriculture only pertains to farm activities - Answers - False
T/F Farm Labor accounts for 1% of the nations GDP - Answers - True
The number of farms in the U.S has been increasing over the last century. - Answers -
False
T/F The average size of farms has been decreasing in the last century. - Answers -
False
The majority of farms in the U.S: - Answers - Earn less than $350,000 in sales
Six parts of Kinsey's heicharchy - Answers - Good taste, variety, convenience, live
well, status, social cause, nutritious, safe, affordable, promote health
T/F The % of income spent on food is decreasing. - Answers - True
T/F Globally, more agricultural land is used as pasture than arable land. - Answers -
True
Who receives the largest portion of a dollar spent on food? - Answers - Labor
Roughly what percent of the dollar spent on food goes to farmers and producers? -
Answers - 7.8%
What is the difference between technical efficiency and economical efficiency? -
Answers - Technical efficiency is increasing the amount of output per unit and
economic efficiency is funding profitable ways to apply new technology.
What is not one of the four functions of management?
Controlling, analyzing, planning, directing, or organizing? - Answers - Analyzing
Which of the four functions involves forecasting consumer demand and business
conditions? - Answers - Planning
