Chapter 8 - Agribusiness

Question 1

The segment of agriculture that deals in sales and service to production agriculturists and consumers

Answer 1

Agribusiness

Question 2

Land use systems and practice using woody perennials on the same land as livestock and/or crops

Answer 2

Agroforestry

Question 3

When one firm from one industry phase contracts with a firm at an adjacent phase for products and/or services

Answer 3

Contract integration

Question 4

Producing only one crop or livestock species

Answer 4

Monoculture

Question 5

Agriculture that meets the needs of the present generation without jeopardizing the ability of further generations to meet their own needs and without limiting their choices

Answer 5

Sustainable agriculture

Question 6

The process of organizing, synchronizing, or orchestrating the flow of products from producers to consumers and the reverse of information from consumers to producers

Answer 6

Vertical coordination

Question 7

A statement of assets owned and liabilities owed in dollar terms that shows the equity or net worth at a specific point in time; also known as a net worth statement

Answer 7

Balance sheet

Question 8

A financial statement summarizing all cash receipts and disbursements over the period of time covered by the statement

Answer 8

Cash-flow statement