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Marchant test 1
Terms in this set (24)
What would happen to demand curve of tea, if coffee prices increase?
would shift outward towards the right
What is the average farm size in Virginia?
Changes in quantity supplied represent a movement along "this curve".
What percent of Virginia farms are family owned?
What are the two flows of marketing?
physical product flow and exchange/cash flow
Every one dollar in ag exports generates an additional "how much" in economic activity?
What are the top three US export destinations?
Mexico, Canada, and China
The port of Virginia is within a day's drive of how many people?
"This" is added at each box along the marketing channel/
What percentage of Virginia land is farm land?
Name three of Virginia's top 5 commodities.
What is the US average farm size?
What type of competition are the majority of companies in the US engaged in?
Rivalry among firms at the same level is what kind of competition?
What is the definition of agricultural marketing?
how commodities and food products are moved through channels of distribution from the farm to the consumer
What percent of US income is spent on food?
What does the phrase "buying will increase as price decreases" define?
the law of demand
Production agriculture is an example of which market structure?
What are the 3 macro views of marketing?
The overall number of farmers in the United States is__.
Taking the product to the consumer is an example of what kind of marketing.
Only a change in this variable can cause a movement along the supply or demand curve.
-a change in the price of the good
What is an economic good that belongs to a single seller and may be patented, copywrited, or trademarked?
What is the time period between the production decision and the delivery date due to the biological nature of agricultural products?
-the biological lag
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