AEM 2310 questions with correct answers

Key factors influencing food production (6) - Answer 1. Geography 2. Farm Acreage 3. Production Methods 4. Input Availability & Use 5. Technology Adoption 6. Farm Policies Number of Farms vs Farm Size - Answer Seeing trend of decreasing number of farms, and increasing farm size - median income of largest farms is way way above smaller farms 5 main agricultural inputs of production - Answer 1. Water 2. Pesticides 3. Land 4. Labor 5. Machinery / Equipment costliest inputs of food production - Answer Fuel cost is increasing the most over time, wages increasing more gradually pesticides and crops have stayed lower 2 dimensions of technological improvement - Answer 1. Cost saving (or yield improving) -- Decrease in per unit costs -- Overall improvement in efficiency Downward shift in the supply curve