AGEC 2780 EXAM QUESTIONS AND
ANSWERS GRADED A+ 2025/2026
4 General Business strategies - ANS 1) Part time
2) Increase of volume with decreased margin
3) Specialty Products
4) Lower volume Higher value (and higher risk)
The three P's - ANS Pests, People, and Policy
Functions of Management - ANS 1) Planning
2) Implementation
3) Control
4) Adjustment
What does Market concentration mean? - ANS Smaller percent of operators produce larger
percentage of overall sales.
Which of the following best describes the business strategy of a large wheat producer on the
Palouse?
A. Low Volume, High Value
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, B. High Volume, Low Margin
C. Specialty Product
D. Part-Time Operator - ANS B. High Volume, Low Margin.
What percentage of farmland is controlled through leasing in today's agricultural production? -
ANS 50%
What goes into planning? - ANS Choosing a course of action.
1. Establish goals
2. Identify resources.
3. Allocate resources.
What goes into implementation? - ANS A plan must be set into motion, most important step!
1. Acquire resources needed.
2. oversee execution of plan.
What goes into control? - ANS Control is the feedback function.
1. Monitor results
2. Record information
3. Compare results to standard
4. Take corrective action
Which of the following would best provide feedback for the control function of management?
A. Crop Budgeting
B. Financial Statements
C. Cash Flow Analysis
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
ANSWERS GRADED A+ 2025/2026
4 General Business strategies - ANS 1) Part time
2) Increase of volume with decreased margin
3) Specialty Products
4) Lower volume Higher value (and higher risk)
The three P's - ANS Pests, People, and Policy
Functions of Management - ANS 1) Planning
2) Implementation
3) Control
4) Adjustment
What does Market concentration mean? - ANS Smaller percent of operators produce larger
percentage of overall sales.
Which of the following best describes the business strategy of a large wheat producer on the
Palouse?
A. Low Volume, High Value
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
, B. High Volume, Low Margin
C. Specialty Product
D. Part-Time Operator - ANS B. High Volume, Low Margin.
What percentage of farmland is controlled through leasing in today's agricultural production? -
ANS 50%
What goes into planning? - ANS Choosing a course of action.
1. Establish goals
2. Identify resources.
3. Allocate resources.
What goes into implementation? - ANS A plan must be set into motion, most important step!
1. Acquire resources needed.
2. oversee execution of plan.
What goes into control? - ANS Control is the feedback function.
1. Monitor results
2. Record information
3. Compare results to standard
4. Take corrective action
Which of the following would best provide feedback for the control function of management?
A. Crop Budgeting
B. Financial Statements
C. Cash Flow Analysis
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
