AGEC 340 Exam Questions with
Correct Detailed Solutions (A+
GRADED 100% Zero-Risk Prep
Guarantee!!)
1. USDA's Foreign Agricultural Service (FAS) cited "------", "------", and "-----
-" as the top three markets for U.S. agricultural exports. - ANSWER ✓
Canada, China, Mexico
2. The U.S. Food production and marketing system is divided into three
sectors: Input Supply Sector, Production Sector, and "-----". This is also
known as the agricultural supply chain. - ANSWER ✓ Food Sector
3. This sector is made up of firms that manufacture and distribute the
thousands of different inputs—both products and services—to production
agriculture - ANSWER ✓ Input Supply Sector
4. The four key tests of agribusiness managers: Planning, organizing, directing,
and "-----". - ANSWER ✓ Controlling
5. Any planning activity is focused on achieving some goal. A "-----" helps to
spell out the direction for a firm and describes the destination to achieve that
goal. - ANSWER ✓ none of these answers
6. Table 2.3 illustrates the three levels of planning. Under this level the
following are included: Middle management, somewhat flexible.
Intermediate-term, written reports, less detail, outlined, and general
components. Which level is this? - ANSWER ✓ Tactical Level
7. Creating a work climate for success helps managers improve employee
efforts to the point where employees approach their potential. Which of the
following is NOT a principle used to create the right work climate: -
ANSWER ✓ Reprimand in public, credit in private
, 8. An important management technique called "-----" holds the basic premise
that managers should not spend time on management areas that are
progressing according to plan. - ANSWER ✓ Management by exception
9. This type of planning describes the development of alternative plans for
various possible business conditions; prepare for the unexpected. -
ANSWER ✓ Contingency planning
10.An organizational chart shows the formal organizational structure of a
company. This category describes how jobs are broken into components and
then assigned. - ANSWER ✓ Division of Labor
11.This type of planning involves focus and developing courses of action for
the longer term; two to twenty- year (or longer) horizon: "------" - ANSWER
✓ Strategic planning
12.True or False: A leader applies the technical skills of business to the
management of things (inventory, production, and so on). "Tells" employees
how to complete a task and how the result must be achieved. More of an
autocratic style. - ANSWER ✓ False
13.True or False pt2: A manager influences the attitudes and behavior of
followers and motivates them to do their best work.
14.Motivates employees to complete the task correctly on time and creates a
culture of excellence and success.
15.More of a participatory style. - ANSWER ✓ False pt2
16.This type of economics focuses on the "big picture" view of our economic
system. - ANSWER ✓ Macroeconomics
17.This type of economics studies how individuals, firms, and society choose to
combine scarce resources (land, labor, capital, and management) to satisfy
the unlimited wants, and best meet the needs of consumers. - ANSWER ✓
Economics
18.This latin term means, "with other things the same "or" all other factors held
constant. - ANSWER ✓ Ceteris Paribus
Correct Detailed Solutions (A+
GRADED 100% Zero-Risk Prep
Guarantee!!)
1. USDA's Foreign Agricultural Service (FAS) cited "------", "------", and "-----
-" as the top three markets for U.S. agricultural exports. - ANSWER ✓
Canada, China, Mexico
2. The U.S. Food production and marketing system is divided into three
sectors: Input Supply Sector, Production Sector, and "-----". This is also
known as the agricultural supply chain. - ANSWER ✓ Food Sector
3. This sector is made up of firms that manufacture and distribute the
thousands of different inputs—both products and services—to production
agriculture - ANSWER ✓ Input Supply Sector
4. The four key tests of agribusiness managers: Planning, organizing, directing,
and "-----". - ANSWER ✓ Controlling
5. Any planning activity is focused on achieving some goal. A "-----" helps to
spell out the direction for a firm and describes the destination to achieve that
goal. - ANSWER ✓ none of these answers
6. Table 2.3 illustrates the three levels of planning. Under this level the
following are included: Middle management, somewhat flexible.
Intermediate-term, written reports, less detail, outlined, and general
components. Which level is this? - ANSWER ✓ Tactical Level
7. Creating a work climate for success helps managers improve employee
efforts to the point where employees approach their potential. Which of the
following is NOT a principle used to create the right work climate: -
ANSWER ✓ Reprimand in public, credit in private
, 8. An important management technique called "-----" holds the basic premise
that managers should not spend time on management areas that are
progressing according to plan. - ANSWER ✓ Management by exception
9. This type of planning describes the development of alternative plans for
various possible business conditions; prepare for the unexpected. -
ANSWER ✓ Contingency planning
10.An organizational chart shows the formal organizational structure of a
company. This category describes how jobs are broken into components and
then assigned. - ANSWER ✓ Division of Labor
11.This type of planning involves focus and developing courses of action for
the longer term; two to twenty- year (or longer) horizon: "------" - ANSWER
✓ Strategic planning
12.True or False: A leader applies the technical skills of business to the
management of things (inventory, production, and so on). "Tells" employees
how to complete a task and how the result must be achieved. More of an
autocratic style. - ANSWER ✓ False
13.True or False pt2: A manager influences the attitudes and behavior of
followers and motivates them to do their best work.
14.Motivates employees to complete the task correctly on time and creates a
culture of excellence and success.
15.More of a participatory style. - ANSWER ✓ False pt2
16.This type of economics focuses on the "big picture" view of our economic
system. - ANSWER ✓ Macroeconomics
17.This type of economics studies how individuals, firms, and society choose to
combine scarce resources (land, labor, capital, and management) to satisfy
the unlimited wants, and best meet the needs of consumers. - ANSWER ✓
Economics
18.This latin term means, "with other things the same "or" all other factors held
constant. - ANSWER ✓ Ceteris Paribus
