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AGBU 3361 Exam 1 Questions And Correct Answers 100% Verified

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AGBU 3361 Exam 1 Questions And Correct Answers 100% Verified...

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  • January 8, 2025
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • agbu 3361
  • AGBU 3361
  • AGBU 3361
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AGBU 3361 Exam 1 Questions And Correct Answers 100% Verified



True/False: Agribusiness management refers to the management of any firm involved in
the food and fiber production and marketing system. - ANSWER True



__________ focuses on the activities involved in storing and transporting goods and
services from manufacturer to buyer. - ANSWER Logistics management



Unique dimension(s) of the food and agribusiness markets include: - ANSWER -Rural
ties

-Food as a product

-Government involvement



True/False: The US food production and marketing system represented about 9 percent
of the total value added production to GDP in 2018. - ANSWER False



True/False: The share of total US employment that was provided by food and
agricultural industries was 6.5 percent in 2018. - ANSWER False



Efficiency of the agriculture sector is illustrated by which of the following measures? -
ANSWER The proportion of personal consumption expenditures allocated to food
consumed at home.



True/False: The U.S. agriculture sector is less efficient than other countries in the world.
- ANSWER False



True/False: Total U.S. consumer expenditures on food more than doubled from 1993 to
2017, but farmer's percentage share of the farm-food marketing bill has been declining.
- ANSWER True

, True/False: In 2017, for every dollar spent on food, about 15 cents went to the farmer. -
ANSWER True



In 2017, the largest component of the farm-food marketing bill was: - ANSWER Food
service



The sector(s) of the food production and marketing system is (are): - ANSWER -Food
sector

-Production agriculture sector

-Input supply sector



In terms of total value added, which of the following food processors is the largest
component of the food processing and manufacturing industry. - ANSWER Meat
processor



Which of the following is NOT a merchant wholesaler? - ANSWER Wholesale agents
and brokers



Merchant wholesalers: General line, specialty, and miscellaneous distributors.



The food retailing sector accounts for 12.6 percent of the value-added to the consumer
food dollar. The food retailing sector consists of the following types of firms, except: -
ANSWER Fast food/quick service



Which of the following food stores saw the greatest expansion between 1997 and 2018?
- ANSWER Warehouse clubs and supercenters



True/False: In 2018-2019, Kroger was the largest US food retailer. - ANSWER False



True/False: Concentration ratio refers to the ratio of sales from largest companies in the
industry to the total sales in the industry, and the grocery industry is highly

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