Definitions
A method of taking advantage of the fact that there may be different prices in different markets for identical goods such as gold, foreign exchange or commodities. Simultaneously, one buys in the lower price market and sells in the higher one.
Arbitrage
A sales agreement for either immediate or future delivery of the actual product.
Cash Contract
What is the capital of Canada?
Ottawa, Ontario
What is the top agricultural commodity in Alabama?
Broilers
Where will the 2023 AAEA meeting be held?
Washington, D.C.
Net Working Capital
Current Assets - Current Liabilities
Tuff deserves a: _ay raise. (hint: p)
P
A farm’s crop-specific acreage of wheat, feed grains, upland cotton, rice, oilseeds, or peanuts eligible to
participate in commodity programs.
Base Acres
(Crop Acreage Base)
The amount by which an option is in-the-money.
Intrinsic Value
Who is the current Secretary of Energy?
Jennifer Granholm
What state is the top in Cattle/Calves production?
Nebraska
Who is the current president of AAEA?
Norbert Wilson
Return on Equity
Net Income / Total Equity
What year was the Humane Slaughter Act passed?
1958
A tax imposed on mineral extraction
Severance Tax
The price at which the futures contract underlying a call or put option can be purchased (if a call) or sold
(if a put). Also referred to as exercise price.
Strike Price
Who is the current longest residing Supreme Court justice?
Clarence Thomas (appointed 1991)
What year was Missouri admitted to the union?
1821
What does the acronym AEM stand for when referring to AAEA Sections?
Agribusiness Economics and Management
Profit Margin
Net Income / Sales
Which chapter of bankruptcy deals with restructuring for family farmers or fishermen?
Chapter 12
The increase in worth of a product or service as a result of a particular activity - in the context of
marketing, the activity might be packaging or branding
Value Added
Economic theory that is used to illustrate cyclical prices
Cobweb Theory
How many Federal Reserve Districts are there?
12
What state is the second largest in potato production?
Washington
Who is the vice president of the Student Section Leadership?
Carter Jay
Total Asset Turnover
Sales / Total Assets
What are the five C's of credit?
1.) Character
2.) Collateral
3.) Capacity
4.) Conditions
5.) Capital
This is an open, ascending auction where each winner pays his/her bid. When people speak of auctions, they
usually mean this one.
English Auction
A branch of applied mathematics that attempts to mathematically capture behavior in strategic situations, in which an individual's success in making choices depends on the choices of others
Game Theory
What agricultural commodity is second in value of cash receipts in the United States?
Corn ($71,100,524)
What is the capital of Mississippi?
Jackson
Name one of the AAEA publications.
AJAE (American Journal of Agricultural Economics)
AEPP (Applied Economic Perspectives and Policy)
JNRLSE (Journal of Natural Resources and Life Sciences Education)
Choices Magazine
The Exchange
Total Debt Ratio
(Total Assets - Total Equity) / Total Assets
What is the third largest agricultural commodity in the state of Oklahoma?
Broilers