Final Review AGB 101 Exam Review PDF

**The final exam is comprehensive, mostly Multiple Answer, Multiple Choice or T/F, administered on Canvas at our final exam time. There will also be a few brief free response and graphical analysis questions. You will have 2 hours to complete the exam.** Total sales value of California agriculture,...

**The final exam is comprehensive, mostly Multiple Answer, Multiple Choice or T/F, administered on Canvas at our final exam time. There will also be a few brief free response and graphical analysis questions. You will have 2 hours to complete the exam.** Total sales value of California agriculture, largest county and percent of jobs related to agriculture in California and the U.S. (use information from Food System slides) Distribution of farm size/value of production Identify least 7 of the top 10 agriculture products produced in California Three main water projects in California, who benefits most from each, and how is each funded Define the unique aspects of agribusiness Percent of income spent on food in US vs. other countries (general) Describe the food marketing bill -- farm vs. marketing share Identify the value added to food products (dollar % break-down by sector) Describe three primary segments of the food system Describe general information/trends in production sector/food sector/input sector Know the differences in types of grocery stores and trends in purchases Know the difference between FOB Shipping Pt. vs FOB Destination prices Describe and give examples for each area of the food sector (food processing, retail, food service, institutional) Describe basic steps in the agricultural marketing channel Identify the types of transportation used in agriculture and relative costs Define and give examples for vertical integration in agribusiness List California\'s top 5 export customers and top 5 export products Define: Economics, Opportunity Cost, Law of Demand, Law of Supply Be able to describe factors that change demand (shift the demand curve) Be able to explain the difference between a change in demand and a change in quantity demanded. Be able to describe factors that change supply (shift the supply curve) Be able to find price and quantity changes when the supply curve, demand curve, or both shift. Describe the four market structures (perfect competition, monopolistic competition, oligopoly and monopoly), and give examples in agribusiness for each one. Define Cooperatives and how they differ from regular corporations Describe the differences between marketing, bargaining, supply and service cooperatives and explain how they each benefit growers Describe advantages and disadvantages of each of the additional types of business ownership: sole proprietorships, general partnerships, corporations (both kinds) and LLC\'s Describe what a marketing order (generally) does for growers Be able to describe the steps in starting a marketing order Know the differences between state & federal marketing orders and research & promotion programs Define the 5 C's of Credit and what financial statement is needed to document each of the C's. Identify the main purposes of a balance sheet, cash flow statement and income statement. Be able to identify key points in articles posted on Canvas as well as how they relate to course content Main points from Industry Guest Speakers as well as what types of businesses they represent. Main points from Career Services speakers and Intern Panel **Agribusiness Management Textbook**: Chapters 1, 5, 3, 4, 9 (in order that we covered the topics)