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Vocabulary
Types of Agricultural Businesses
Areas of Agribusiness
Finances
Random
100
What is any cost associated with producing a product?
Expense
100
In this business, there is one owner.
Sole proprietorship
100
The use of machines, tools, and labor to produce goods for sale.
Production
100
You borrow $2000 from your friend and pay it back 10 months later. What type of loan was this?
Short-term loan
100
You borrow $25,353 from a bank and pay it back in 7 years. What kind of loan is this?
Long-term loan
200
What is inventory?
A physical count of all assets in a business.
200
Lily and Annie own a business together. What is this called?
A partnership
200
Describe processing.
Processing= transforming raw food ingredients into food products
200
Loan acquired from a bank that has a fixed interest rate and a specific date set for repayment.
A capital loan
200
The Nike Swoosh symbol is a ___________. (You had to make one of these for your agribusiness project.)
Logo
300
The excess of receipts over payments for all factors of production is __________?
Profit
300
Give 5 examples of corporations.
....
300
John owns a trucking company that hauls Little Debbie snacks to stores across the country. What are of agribusiness is this?
Distribution
300
A type of loan in which real estate property is purchased by a bank, and the individual with the mortgage pays the bank for the property.
Mortgage
300
A business that grows pumpkins is in which category of agribusiness? (sales, distribution, marketing, production, processing)
Production
400
Define income and give an example of it.
Income is the amount of money received from selling a product or providing a service.
400
Describe a cooperative and give one example.
A cooperative is a business that is owned and operated by a group of people.
400
Give 4 examples of agribusinesses in the area of sales.
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400
Give 3 examples of non-depreciable items.
feed, seed, fertilizer, stocker cattle, feeder cattle
400
A business that designs cereal boxes is in which area of agribusiness? (marketing, processing, distribution, production, sales)
Marketing
500
Name one of the agribusiness careers from the notes.
Research Economist Quality Assurance Specialist Quality Control Supervisor
500
Which of the following is chartered by the state sole proprietorship, partnership, cooperative, or corporation?
Corporation
500
A business in town creates newspaper and radio advertisements for other businesses. What area of agribusiness is it in?
Marketing
500
Give 3 examples of depreciable items.
Breeding livestock, equipment, tractors, computers, land improvement
500
Give three examples of SALES agribusinesses.
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