Overview of Agribusiness

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

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

Increases
Remains the same
Decreases

Five elements of agribusiness (five p's)

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

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

Price=minimum average cost=?

Allocative efficiency
Production efficiency
Demand efficiency

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

What is equilibrium?

Intellectual property means?

Five approaches to agribusiness include

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