Agribusiness 101

Study Notes

Agribusiness is important in human survival and contributes to economic development.
The term "agribusiness" was coined by two Harvard economists in 1957.
Agribusiness includes the input-farm-product sectors that supply farm inputs, production, and handling of products.
Merriam-Webster's Collegiate Dictionary defines agribusiness as an industry engaged in producing operations of a farm.
Agribusiness is any profit-motivated enterprise involved in providing agricultural supplies and processing, marketing, transporting, and distributing agricultural materials and consumer products.
The Australian Department of Agriculture, Fisheries, and Forestry provides an inclusive definition of agribusiness.
Agribusiness encompasses agricultural producers, businesses that provide supplies and services, processors, and those that facilitate the marketing of agricultural products.
Marketing plays a vital part in moving inputs, products, and by-products to different sectors and consumers.
There are basically three sectors that comprise agribusiness.
Agribusiness encompasses all operations involved in the production of farm inputs, cultivation of crops or raising of livestock, handling and processing of agricultural commodities, and transfer of commodities to end-users.

Description

Are you curious about the world of agribusiness? Take this quiz to test your knowledge on the history, definition, and components of this important industry. From the input-farm-product sectors to marketing and distribution, discover the different facets of agribusiness and how they contribute to human survival and economic development.