Title: Quiz 1
Course: AGR 210 Agricultural Marketing - Fall 2014 > Section: AGR 210 Agricultural Marketing - Fall 2014

Q: Which of the following is the least tangible components of a Food Marketing System?
- Exchange and price-setting
- Physical handling, storage, processing, and transportation of goods
- None of the above
- Both of the above
A: Exchange and price-setting

Q: What is the average farm size of US farms?
- between 401-450 acres
- between 451-500 acres
- between 501 and 550 acres
- None of the above
A: between 451-500 acres

Q: What is the approximate number of farms in the United States?
- 1 million
- 2 million
- 3 million
- 4 million
A: 2 million

Q: According to US Census of Business, how many food marketing establishments existed in 1998?
- Less than half million
- Less than one million
- More than one million
- More than 2 million
A: Less than one million

Q: What percentage of disposable income do Americans spend on food?
- 5 %
- 10 %
- 15 %
- 20 %
A: 10 %

Q: What percentage of US consumer food dollars are paid for off-farm marketing activities?
- 59 %
- 69 %
- 79 %
- 89 %
A: 79 %

Q: The percentage of people employed in the food and fiber sector (as compared to the total employment in the US) has generally increased in the last 7 decades.
- True
- False
A: False

Q: The percent contribution of food and fiber sector to the Gross National Product has increased in the last 50 years.
- True
- False
A: False

Q: According to the United States Department of Agriculture (USDA), the efficiency of the food and fiber sector in the last 50 years has:
- Increased
- Decreased
- Stayed Constant
- Data is not available on this
A: Increased

Q: What are the key components of a market?
- Location, Product, Time, and Institutional Level
- Producer and Consumer
- Retailers and Wholesalers
- Supply and Demand
A: Location, Product, Time, and Institutional Level

Q: The primary task of the Food Marketing System is to safeguard the interests of the producer and consumer.
- True
- False
A: False

Q: The first surplus crop to present one of the earliest marketing problems was:
- Tobacco
- Corn
- Broccoli
- Cotton
A: Tobacco