FBLA AGRIBUSINESS – TEST EXAM
QUESTIONS AND ANSWERS 2026
VERIFIED.
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: - ANS supply and demand
A well-known restaurant chain has an outbreak of salmonella poisoning from tomatoes. The
customer response to this situation represents economic - ANS elasticity
The country whose per capita consumes the greatest amount of pork is: - ANS Denmark
_________ consists of real estate (land), building, house, and various types of improvements to
real estate. - ANS real property
A depreciable asset's book value will equal its salvage value: - ANS 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 - ANS decreases
The most important reason of complete farm financial records should be: - ANS to combine
with production records to provide information for management decision making
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 4
QUESTIONS AND ANSWERS 2026
VERIFIED.
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: - ANS supply and demand
A well-known restaurant chain has an outbreak of salmonella poisoning from tomatoes. The
customer response to this situation represents economic - ANS elasticity
The country whose per capita consumes the greatest amount of pork is: - ANS Denmark
_________ consists of real estate (land), building, house, and various types of improvements to
real estate. - ANS real property
A depreciable asset's book value will equal its salvage value: - ANS 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 - ANS decreases
The most important reason of complete farm financial records should be: - ANS to combine
with production records to provide information for management decision making
@COPYRIGHT ALL RIGHTS RESERVED PAGE 1 OF 4
