AGEC 325 Exam 1 Quizzes Graded A+
will be most helpful to farm managers for: - Correct answer-prescribing fertility
and pest control practices for smaller land units
Standardization of farm financial ratios and accounting practices will help farm
managers: - Correct answer-compete with nonfarm businesses for capital
Agricultural processors will probably want more uniform products in the future in
order to: - Correct answer-make more efficient use of processing and packaging
equipment
By forming strategic alliances, small and medium-sized farmers and ranchers can:
- Correct answer-achieve marketing advantages that larger operations enjoy
An increase in the number of non-farmers living in rural areas will cause: - Correct
answer-farmers to pay more attention to off-farm effects of their production
practices
Globalization refers to the process of: - Correct answer-reducing trade barriers
among countries
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, Vertical integration refers to the process by which farmers or ranchers: - Correct
answer-enter into agreements with processors or distributors to supply them with
their products
A beef cow-calf operator who specializes in raising high-quality breeding stock
and calves for exhibiting at livestock shows would be classified as: - Correct
answer-low-volume, high-margin producer
According to the U.S. Census of Agriculture, the largest percentage of farms in the
United States would be considered: - Correct answer-Small, part-time farms
Over the past 30 years the number of farm units in the United States has: - Correct
answer-Declined gradually
"Doubling the number of acres farmed within the next 10 years" is an example of a
- Correct answer-long-run goal
Which of the following is an example of a strategic decision? - Correct answer-
determining what type of business/legal organization to use
Which of the following is an example of a tactical decision? - Correct answer-
balancing a livestock ration
"What managers do" is best described by which of the following? - Correct
answer-make decisions
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
will be most helpful to farm managers for: - Correct answer-prescribing fertility
and pest control practices for smaller land units
Standardization of farm financial ratios and accounting practices will help farm
managers: - Correct answer-compete with nonfarm businesses for capital
Agricultural processors will probably want more uniform products in the future in
order to: - Correct answer-make more efficient use of processing and packaging
equipment
By forming strategic alliances, small and medium-sized farmers and ranchers can:
- Correct answer-achieve marketing advantages that larger operations enjoy
An increase in the number of non-farmers living in rural areas will cause: - Correct
answer-farmers to pay more attention to off-farm effects of their production
practices
Globalization refers to the process of: - Correct answer-reducing trade barriers
among countries
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Vertical integration refers to the process by which farmers or ranchers: - Correct
answer-enter into agreements with processors or distributors to supply them with
their products
A beef cow-calf operator who specializes in raising high-quality breeding stock
and calves for exhibiting at livestock shows would be classified as: - Correct
answer-low-volume, high-margin producer
According to the U.S. Census of Agriculture, the largest percentage of farms in the
United States would be considered: - Correct answer-Small, part-time farms
Over the past 30 years the number of farm units in the United States has: - Correct
answer-Declined gradually
"Doubling the number of acres farmed within the next 10 years" is an example of a
- Correct answer-long-run goal
Which of the following is an example of a strategic decision? - Correct answer-
determining what type of business/legal organization to use
Which of the following is an example of a tactical decision? - Correct answer-
balancing a livestock ration
"What managers do" is best described by which of the following? - Correct
answer-make decisions
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
