Basic Terminology
Reading Graphs
Budgets
Markets
Business Structures
Other Business Questions
Bonus Category
100
What is a commodity
A naturally produced good that is sold/traded for profit
100
What type of market is indicated by this graph
Bear market
100
What are the 3 categories a budget my include
Income, Expenses, Savings
100
When do you need to deliver a cash price contract
right now/this month
100
McDonalds in what type of business structure
Franchise
100
What does ROI stand for?
Return on investment
100
What University did Ms L get her degree from?
South Dakota State University
200
What is an asset?
Something you own that makes you money
200
What part of the graph is the arrow pointing to?
Peak Point
200
What type of expense is rent?
Fixed Expense
200
What is trend trading?
Making marketing decisions based on trends
200
What are two advantages of partnerships?
varied answers
200
What is something that appreciates over time?
land, antiques
200
What is a group of pandas called?
An embarrassment
300
What is CME?
Chicago Market Exchange
300
What trend is reflective of this graph?
Sideways Trend
300
What type of income are wages?
Variable
300
What is a hedger?
Someone who owns the commodities
300
Lundquist Family Farms would fall under what type of structure?
Sole Proprietorship
300
If I buy a tractor for $275,000 and have to take out a loan. Is the tractor an asset or a liability
Liability
300
What Disney movie got turned into a tik tok musical during the covid 19 pandemic lockdown?
Ratatouille
400
What is a contract?
Agreement to sell/buy a good.
400
What do you need for a graph to be properly labeled?
Title and axes labeled
400
What are 3 common mistakes made when budgeting?
Varied Answers
400
I want to sell my Dec Corn contract for $6.01 and I bought it for $5.90. What is considered my price ceiling?
$5.90
400
What business type do customers "buy into" and own a share of
Co-op
400
What day are CME markets closed?
Monday
400
What song has the record for longest streak as the no 1 song?
Old Town Road
500
What is basis?
The difference between cash and futures pricing
500
What trend type also means that the graph has plateaued
Sideways trend
500
How do you calculate your net profit on your budget?
Total Income- Total Expenses
500
I believe that the soybean market is going to remain fairly stable, but the basis might rise in the upcoming months. What type of contract should I enter?
Basis Contract
500
What are the majority of businesses in regards to business structure?
Sole proprietorship
500
What is an item that we would use double declining depreciation for?
Varied answers
500
What year was Ms L born?
2001