Agribusiness Quizzy

Managment

5

The "glass ceiling" dramatically affects ____ and _____ in society. 

Women and Minorites

10

When the _______ ran out for A.A. Milne's Winnie the Pooh character, the bear entered the public domain and a British director was legally able to make the 2023 slasher film "Winnie the Pooh: Blood and Honey", though it is not clear whether having the legal right warranted the waste of resources.

Copyright

15

Under Porter's Five Forces model, _____ describes the competition for market share by incumbent firms within the market.

Internal Rivalry

20

A merger between a baby food company and a textbook company is what form of integration?

Conglomerate Integration 

25

The direction in which an organization is heading and how it will succeed in reaching its desired goal is defined by its:

Mission Statement 

Marketing

5

When a company does not have enough money to spend marketing each product with an individual brand, it often will use a strategy of:

Family/Umbrella Branding

10

Ink-jet printers are being sold exceptionally cheaply to lock consumers into buying more expensive ink. The printer is an example of _______.

Loss-leader pricing

15

When a company purchases whole beef carcasses and converts them to packaged steaks and other beef products, we say the company has added _____ utility. 

Form 

20

What type of pricing is the practice of charging a very low price for a product with the intent of driving competitors out of the market?

Predatory Pricing

25

_______ is designed to obtain as much margin per unit as possible and also enables the company to recover its new product investments more quickly. 

Price Skimming

Quant.

5

Researchers are using _____ data when the data were collected by the government or the Census.

Secondary Data

10

What is the square root of variance?

Standard Deviation 

15

Collecting soybean prices everyday for 8 years is an example of:

Time-series data

20

How are two goods related if cross-price elasticity is positive?

They are substitutes. 

25

What type of data includes observations for different entities for which a common set of variables are measured at the same point in time?

Cross-Sectional Data

Repo

5

Someone who benefits from a public good or service without paying any of the cost is called?

Freerider

10

Externalities often lead to what suboptimal outcome?

Market Failure

15

What idea holds that if private properties can bargain without cost, then the private market will solve the problem of externalities?

Coase Theorem

20

Define the two properties of "pure" public goods.

Non-excludable and Non-Rival

25

A private park is excludable but non-rival, so it is an example of what type of resource?

A club good 

Potpourri5

5

Russia strongly opposes ______, the security treaty from 1949, because it reduces his power and reach throughout Europe. 

North Atlantic Treaty Organization (NATO) 

10

What does TINSTAAFL stand for?

"There Is No Such Thing As A Free Lunch"

15

What economist or economic historian developed the concept of "creative destruction"?

Joseph Schumpeter

20

What is the name of the bill introduced in the 1930s that placed tariffs on almost all imports to reduce the volume of imports into the U.S. hoping this would restore domestic employment? 

Smoot-Hawley Act

25

Who is the current Secretary of Agriculture?

Tom Vilsack