CRD 105: Agriculture and Agri-Business

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What is the total number of study sessions in CRD 105?

5
6
10
8 (correct)

What is the primary sector of a country's economy?

Tourism and services
Manufacturing and processing
Agriculture, forestry, and fishery (correct)
Banking and IT

What is the definition of agriculture?

Only the raising of animals
Only the cultivation of crops
Only the production of food and feed
The production of food, feed, and fibre or raw materials (correct)

What is the growth rate of the agriculture sector in 2022?

1.88 (C) Signup and view all the answers

What is the purpose of the CRD 105 course?

To understand the concepts and business aspects of agriculture (B) Signup and view all the answers

What is the tertiary sector of a country's economy?

The service sectors, including banking and IT (C) Signup and view all the answers

What is a characteristic of agricultural production that makes it different from industry?

It is primarily biological in nature (C) Signup and view all the answers

Why do primary producers in the agricultural sector have little control over their production?

Because of the seasonality and biological nature of agriculture (C) Signup and view all the answers

What is a consequence of the unpredictability of weather in agricultural production?

Risk and uncertainties in production (D) Signup and view all the answers

Why does agricultural production require a larger proportion of land compared to industry?

Due to the biological nature of agriculture (C) Signup and view all the answers

What is a difficulty in agricultural production due to the biological nature of the sector?

Sudden occurrence of diseases (D) Signup and view all the answers

Why do agricultural producers face difficulties in producing standardized products?

Because of the difficulty in standardizing practices (A) Signup and view all the answers

What is the typical relationship between the production volume of a farm commodity and its price?

A decrease in production volume leads to an increase in price (D) Signup and view all the answers

What makes it challenging to adjust production to price variations in the long-run?

It is difficult to adjust production schedules (D) Signup and view all the answers

Why are market intermediaries important in the agricultural industry?

They provide utilities of place, time, and form to the produce (A) Signup and view all the answers

What is a major characteristic of agricultural products that affects their supply?

They are perishable and difficult to store (D) Signup and view all the answers

What is an important economic benefit of agricultural production?

It generates foreign exchange earnings (B) Signup and view all the answers

What is the origin of agriculture traced back to?

Early man as hunter and food gatherer (B) Signup and view all the answers

What is the primary focus of food security?

Food availability and accessibility (D) Signup and view all the answers

Which of the following is NOT a component of food availability?

Intra-household distribution of food (C) Signup and view all the answers

What is the primary concern of food utilization?

Nutrition and healthcare (D) Signup and view all the answers

What is the term for the external effects associated with agricultural production activities?

Environmental externalities (D) Signup and view all the answers

What is an example of a negative externality of agricultural production?

Water pollution (C) Signup and view all the answers

What is the primary focus of food stability?

Stability in availability and access to food (D) Signup and view all the answers