AGEC 340 Questions with Answers (100% Correct Answers)

1


AGEC 340 Questions with Answers (100% Correct
Answers)

The Food & Agribusiness System consists of _____ of businesses

Answer: Thousands

_____ is the driver of success in the Food & Agribusiness System

Answer: Management

a CEO of a global firm has _____ compared to a small farm owner

Answer: smaller role(s)

_____ is one of the four functions of management Answer: Marketing

_____ is one of the four functions of management Answer: Finance

_____ is one of the four functions of management Answer: Supply

Chain

_____ is one of the four functions of management Answer: Human

Resources

Marketing is the _____ to the customer Answer: Bridge




© 2025 All rights reserved

, 2

Decisions in marketing include _____ Answer: Product, service, info,

price, promotion, distribution

The main driver of finance is _____ Answer: Profit

Finance uses tools like _____ Answer: Budgeting, forecasting,

breakeven analysis

A key idea in supply chain management is _____ Answer: Time-based

advantage (faster response, shorter cycles)

The core asset in human resources is _____ Answer: People

Training and development in human resources are key to _____

Answer: Growth

Food is considered a _____ good Answer: Survival (essential)

Agriculture is based on a _____ system Answer: Biological (affected by

weather, pests, disease, weeds)

Agriculture faces risk and uncertainty from _____ Answer: Drought,

flood, insects, disease

Market structures in agriculture vary from _____ to _____ Answer:

Perfect competition (cotton) to duopoly (Coke/Pepsi)

© 2025 All rights reserved