Overview of Agribusiness

Unit one: Overview of Agribusiness and possible careers in the industry

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What are the three sectors of agribusiness?

Input, Output, Median
Supply, Demand, Quality
Input, Production, Marketing

What is the definition of agribusiness?

The study of marketing principles in the agriculture industry
An economic system that is involved in providing agricultural products
Set of different elements put together to form a process of progression

If supply and demand increase, what happens to the price?

Remains the same

Intellectual property means?

Price=marginal cost=?

Revenue efficiency
Allocative efficiency
Production efficiency

Four untilities to agrimarketing include,

Form, Production, Place, Time
Form, Posession, Time, Place
Product, Price, Place, Form

Price=minimum average cost=?

Allocative efficiency
Production efficiency
Demand efficiency

Five elements of agribusiness (five p's)

Product, place, price, promotion, people
Posession, place, people, price, promotion
Product, place, production, possession, promotion

Five approaches to agribusiness include

Production, product, time, selling, marketing
Product, production, selling, marketing, societal marketing
Place, time, form, marketing, selling

What is equilibrium?