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Ag. Marketing test 1
Terms in this set (21)
What is ag marketing
Is defined as the performance of all buisness activities involved in the flow of food products and services from the point of initial ag production until they are in the hands of the consumer.
Utilities are classified into what 4 categories?
1. Form utility
2. Place utility
3. Time utility
4. Possession utility
A market may be defined by what 4 things?
4. Institutional level
____ Is the process of making useful goods and services.
_____ begins with production decisions made on the farm.
____ is the creation of utility.
In _____ (year) the Chicago board of trade was formed with ____ members.
1848 and 82
The____ established local standards of conduct. (2words)
T/F__The margin system was put into place to guarantee delivery.
T/F__In early years contracts to deliver were standardized.
T/F___Early development of cities took place within a few miles of the best land available.
T/F___1865 was the beginning of standardized futures contracts.
T/F___The spoilage of produce led to the development of roads and railroads
T/F__By the late 1880s Minneapolis was the milling center of the country.
T/F__1880 saw the introduction of tin cans and other canning equipment which made canning fruits and vegetables possible.
T/F__The earliest U.S recorded contract was a contract on corn recorded on March 13, 1861
The food marketing system is a process of
Communication, conflict, resolution, and coordination
Is the price of one product stated in terms of another ; ratio of two prices
The relative price of soybeans to corn is __ if the price of soybeans is $9.00 and the price of corn is $3.00
Food marketing process must achieve ....
Don't forget the relative price scenario problem!!!!!!
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