Economics

Answer the following questions and submit to Chapters 1 Questions.

  1. List and briefly define the six parts of the global agri-food system.
  2. How did the Industrial Revolution lead to the greater urbanization of America?
  3. How has American’s perception of food changed in recent years? What does this change mean for the success of agribusiness firms in the global agri-food system in the future?
  4. Describe the forces that led to the three major sectors of the global agri-food system.
  5. Explain the role of export markets in U.S. agriculture and how it has changed in recent years.  Who are our trading partners and how has this list changes in recent years? How is it likely to change in the future?
  6. What is the difference between an agricultural commodity and a food product?
  7. Explain Kinsey’s hierarchy of why people buy food.  What influence has this had on agriculture products?
  8. Is the US agri-food system a global system? How have US imports and exports changed in recent years?
  9. What is it about agribusiness manager that make then unique from other types of managers?
  10. How do you respond to people who say US agriculture is ruining our land and water?

 

Answer the following questions and submit to Chapters 2 Questions

  1. Why is business management referred to as a profession rather than a discipline? What is the difference between a discipline and a profession?
  2. Explain how being the first choice of your customers, employees, and investors leads to long-run business success.
  3. What is the difference between business management and leadership?
  4. Describe the business decision-making process.
  5. Agribusiness management is described as a dynamic, continuous process. Do you agree or disagree? Explain.
  6. What is the difference between efficiency and effectiveness? Explain why this difference is important to an agribusiness manager.
  7. How is business management different from leadership? Explain why it is important to know the difference.
  8. Identify, define, and explain how the four functions of management work together to make an agri-food firm successful.
  9. Identify, define, and explain the three Es of long-run business success.
  10. Which is more important to business success: technical efficiency (maximum output per unit of input) or economic efficiency (maximum long-run profits)? Explain.