7 Questions
What are the different sectors included in agribusiness?
Agriculture, fishery, forestry, and manufacturing
What percentage of the country's Gross National Product (GNP) does agribusiness contribute?
More than 25%
What expertise is required in agribusiness?
Finance, production, marketing, and personnel management
What does agribusiness do to meet the demands of consumers?
It meets current demands in domestic and world markets
What are the benefits of agribusiness?
Strengthening of infrastructural facilities, expansion of credit, and adoption of modern technology
What does agribusiness provide in terms of employment?
It generates both potential and actual employment opportunities
What is the importance of agribusiness?
Its importance lies in both its contribution to the national economy and its role in directing the government and private sectors for development of sub-sectors
Study Notes
- Agribusiness is a multi-faceted economic sector that includes agriculture, fishery, forestry, manufacturing, and the service sector.
- It contributes more than 25% to the country's Gross National Product (GNP).
- Agribusiness is management-oriented and requires expertise in finance, production, marketing, and personnel management.
- It is a dynamic sector that meets current demands of consumers in domestic and world markets.
- Agribusiness leads to the strengthening of infrastructural facilities, expansion of credit, and adoption of modern technology in production and marketing of agricultural products.
- It provides crucial forward and backward linkages and generates potential employment opportunities.
- Agribusiness adds value to products and increases net profits.
- Its importance lies in its contribution to the national economy and its role in directing the government and private sectors for development of sub-sectors.
- The objectives of agribusiness include developing a competitive and sustainable private sector-led agribusiness sector, increasing productivity/income, commercializing agricultural products, employing modern technologies, reducing costs of production, and value-adding.
- More farmers should be encouraged to take farming not only as a way of life but also as an entrepreneurial or business activity.
Test your knowledge on the dynamic and multifaceted world of agribusiness with this quiz! From its contribution to the economy to its management-oriented approach, this quiz will cover all aspects of agribusiness. Dive deep into the objectives, benefits, and potential of this sector as you learn about its role in modern agriculture. Challenge yourself to see just how much you know about this essential industry and its impact on the world around us.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
