Overview of Agribusiness Unit one: Overview of Agribusiness and possible careers in the industry alexandra_lacyy published on September 07, 2016 Stacked 1/10 Intellectual property means? Type answer. Hint: 28 characters 2/10 What is the definition of agribusiness? The study of marketing principles in the agriculture industry An economic system that is involved in providing agricultural products Set of different elements put together to form a process of progression 3/10 What is equilibrium? Type answer. Hint: 28 characters 4/10 If supply and demand increase, what happens to the price? Increases Remains the same Decreases 5/10 What are the three sectors of agribusiness? Input, Output, Median Supply, Demand, Quality Input, Production, Marketing 6/10 Price=minimum average cost=? Allocative efficiency Production efficiency Demand efficiency 7/10 Price=marginal cost=? Revenue efficiency Allocative efficiency Production efficiency 8/10 Five elements of agribusiness (five p's) Product, place, price, promotion, people Posession, place, people, price, promotion Product, place, production, possession, promotion 9/10 Five approaches to agribusiness include Production, product, time, selling, marketing Product, production, selling, marketing, societal marketing Place, time, form, marketing, selling 10/10 Four untilities to agrimarketing include, Form, Production, Place, Time Form, Posession, Time, Place Product, Price, Place, Form