AGRI 215 Lecture Notes - Broccoli, Grocery Store, Tillage

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sapphirecod69

7 Dec 2011

School

McGill University

Department

Agriculture

Course

AGRI 215

Professor

Caroline Begg Roger Cue

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Document Summary

3. 6 kg people buy, 1. 5kg people actually consume (per year) At max - broccoli harvested at cusineau"s - 2 weeks in storage before selling. Minimum in california broccoli is three weeks before selling. Wastage left in the field (use machine to return to soil) - nutrients go back, but it can cause problems with pests/disease! Blaimed the grocery stores (the big four which control 84% of market) for creating demand for the perfect broccoli. Tillage - 10x for preparing for second broccoli crop - may have been exception. Seeded the first when wet (clay soil) Large clods of clay results from soil being two wet, destroys structure and is large mass. When it dries it becomes hard as a rock. Extra tillage to create fine seedbed for direct seeding. Petral energy waste and damage to soil! Economy of scale - producing huge volume to make profit. To make money off of one crop.

Related Questions

DEMAND and SUPPLY FUNDAMENTALS: Shifts in Demand or Supply

Variables typically included in a multivariate demand function (other than the price and quantity of the item the demand function represents) are consumer tastes and preferences, the number of buyers, spendable (disposable) income, prices of substitute goods, prices of complementary goods, advertising expenditures, weather, and expectations. Recalling that the price of the item being considered is placed on the vertical axis, and the quantity on the horizontal axis, the other variables are termed demand shifters. Please answer the following questions about the affect changes in other variables might have on the demand for the item. These changes will either cause demand to increase(shift right) or decrease(shift left). Use either word as applicable, for the short answer.

If the price of a good increases because the demand for it increases, What would you expect the demand for its complement to do?

If the demand for coffee beans increases, then what is likely to happen to the demand for land on which to grow coffee?

If advertising expenditures for the good being considered are decreased, then demand for the good being considered will likely:

Lattes are a relatively expensive coffee drink. However, being a normal good, as consumersâ disposable income increases, the demand for Lattes should:

5. As the supply of tablet computers and e-readers increases relative to the demand for them, what change in demand for printed textbooks (having digital e-book versions) would you expect?

Variables typically included in a multivariate supply function (other than the price and quantity of the item the supply function represents) are prices of other goods that use similar input resources for production, expectations, the number of suppliers, techniques of production, taxes and subsidies, and prices of input resources, weather. Please answer the following questions about the affect changes in other variables might have on thesupplyof the item. These changes will either cause supply to increase(shift right) or decrease(shift left). Use either word as applicable, for the short answer.

If there is an increase in the number of producers of the item being considered, then the supply of it is likely to:

A tariff is a form of trade restriction (that behaves much like a tax). Suppose the United States removes a high tariff on imported broccoli that had been in effect for a long time. How should this affect the supply of imported broccoli?

A decrease in a government-provided subsidy of the item being considered is likely to ___________its supply.

If the price of an input resource decreases (and there are no cheaper substitutes for the resource) then producers of the item are likely to _____________ its supply?

Suppose broccoli growers have successfully lobbied Congress for a crop subsidy. Once the subsidy becomes available, the domestic broccoli supply is likely to:

Choose the right answer

Question 1

With respect to consumer behavior, one's attitudes, learning, and perceptions would be

		impersonal influences
		interpersonal influences
		personal influences
		insitutional influences

Question 2

In Maslow's hierarchy of needs,

		a physiological need must be met directly before social needs.
		esteem needs are the highest order of needs.
		self-actualization needs are the highest order
		safety needs and esteem are of the same importance.

Question 3

The most likely product to be purchased in an attempt to satisfy self-esteem needs would be

		"super class" tickets for your next air flight.
		a really fast computer.
		a home security system.
		yogurt and health food.

Question 4

Which of the following is not a characteristic that distinguishes organizational markets from consumer markets?

		Organizational markets are more geographically concentrated.
		More people exert influence on the organizational buying decision.
		The organizational market tends to have a greater number of buyers.
		Organizations often engage in multiple sourcing and vendor analysis.

Question 5

Consumers may attempt to reduce postpurchase anxiety in the consumer decision process by

		avoiding favorable information about the selected brand
		seeking reassurance from dissatisfied customers
		seeking information that favors the rejected brands
		ignoring unfavorable reports about the chosen brand

Question 6

The buying center concept explains how groups of people participate informally in business purchase decisions and

		methods to break through group perceptions.
		the role the group members play in buying decisions.
		how family units operate as buying centers.
		the process of performing vendor analysis.

Question 7

In the organizational buying process, a triggering event such as announcement of the availability of a new product whose use could improve the company's market performance is referred to as

		need or opportunity recognition
		identification of suppliers
		information search
		word-of-mouth exploration

Question 8

An undifferentiated marketing strategy

		serves the consumer better because the products offered are designed to meet the needs of a specific group of people
		benefits from the control and efficiency of short production runs
		ignores differences among consumer groups and focuses on the broad market
		is the most common strategy today and is used more now than in the past

Question 9

Goods purchased by the ultimate consumer for personal use are called

		personal products
		purchased products
		consumer products
		commercial products

Question 11

A particular purchasing agent might allow some salespeople to see the engineers responsible for developing product specifications but not allow others the same privilege. In the buying center, this purchasing agent is filling the role of

		a "hard" nose
		a gatekeeper
		an influencer
		a decider

Question 12

"Our prices are the lowest, we guarantee it" is an example of a positioning strategy based on the product's

		competitors
		price
		class
		application

Question 13

Segmenting the market based on exactly how an industrial purchaser will use products is referred to as

		customer-based segmentation
		benefits segmentation
		end-use application segmentation
		geographic segmentation

Question 14

The lumber your carpenter purchases to finish out your basement is classified as

		a home improvement product
		a raw material
		a business product
		a consumer good

Question 15

When consumer demand for personal computers affects computer manufacturers' demand for computer chips, this situation is known as

		volatile demand
		conjoined demand
		derived demand
		joint demand

Question 16

Which of the following is a personal factor in consumer bahavior?

		a cultural influence
		group membership
		friends' opinions
		a person's attitudes

Question 17

Cognitive dissonance would be most likely to occur after the purchase of

		sneakers
		groceries
		an automobile
		cosmetics

Question 18

Which of the following would be most likely to break through a person's perceptual screen?

		a newspaper ad featuring white type on a black background
		a black- and -white classified ad
		reducing the size of the ad
		using fewer colors in the ad

Question 19

The Fortune 500 list of America's largest firms based on sales revenues and number of employees provides a basis for

		market segmentation based upon customer type
		demographic segmentation based upon geographic location
		end-user segmentation of this market
		demographic segmentation based upon customer size

Question 20

Straight rebuy behavior by industrial purchasers will probably continue if the supplier provides

		poor service
		poor quality
		shipping delays
		satisfactory performance

Question 21

A controversial technique of subconscious communication, aimed at circumventing the perceptual screens, is called

		shadowed perception
		leger-de-main
		subliminal perception
		perception incognito

Question 22

Those products that are actually considered when making a consumer purchase decision are

		customer options
		customer selections
		the evoked set
		the product set

Question 23

The component of the business market that consists of individuals and firms that acquire goods and services to be used directly, or indirectly, in producing other goods and services is called:

		wholesaling and retailing
		the commercial market
		government
		an institution

Question 24

The institutional market does not include which of the following?

		hospitals
		museums
		motion pictures theatres
		universities

Question 25

Advertising for smoke alarms, air bags and life insurance typically uses which of Maslow's levels of needs to appeal to consumers?

		self-esteem needs
		safety and security needs
		physiological needs
		protection needs

Question 26

One type of buying center role is that of the

		influencer who supplies information for evaluation.
		authority figure who decides who, what, where, when, and how.
		disseminator who function is to get advertisements to prospects.
		specifier who needs on the specifications of products

Question 27

Manufacturing firms that convert to automated factory systems must purchase equipment that they have never bought before, such as robots and computers. This buying situation is called

		a straight rebuy
		a modified rebuy
		a contract purchase
		new-task buying

Question 29

A commonly used basis for segmenting consumer markets is

		product-related characteristics
		health-related matters
		information-related concepts
		performance-related criteria

1 points

Question 30

The business market is also known as the

		wholesale market
		corporate market
		organizational market
		distribution market

Question 31

Which of the following consumer problem-solving behaviors requires the least effort?

		extended problem solving
		limited problem solving
		impulsive buying
		routine response behavior

Question 32

The relationship between the demand for silk cloth and consumer demand for silk blouses and neckties is known as

		joint demand
		demand volatility
		derived demand
		consumer demand

Question 33

Examples of business market items that would usually be purchased as a straight rebuy are

		high quality raw materials
		heavy-duty machinery
		paper clips and pencils
		high-tech components

Question 34

The person who joins a local bowling league for the social interaction, even if he or she is a novice bowler, is probably trying to satisfy his or her

		esteem needs
		self-actualization needs
		physiological needs
		belongingness/social needs

Question 35

Campbell's "Soup for One" is an example of a product that is targeted to

		large families with high product usage of certain things but different preferences
		dual-income couples with no kids
		well-off older families
		non-traditional households such as nonfamily, single-person or single-parent situations

Question 36

Red Ryder Industries markets rodeo and horse riding supplies specifically to women. This is an example of

		market stratification
		market segmentation
		non-traditional marketing
		multi-gender marketing

Question 37

Purchases made by choosing a preferred brand or one of a limited group of acceptable brands are called

		extended problem solving
		routinized response behavior
		limited problem solving
		selective problem solving

Question 38

The slogan "the graying of America" describes the trend

		toward people retiring later in life
		of the word force to contain a disproportionate number of older Americans
		for gray hair to develop from years of high-stress urban work
		upward in the elderly population as Americans tend to live longer

Question 39

People or institutions must have sufficient purchasing power and the authority and willingness to buy to be considered a

		market
		buyer
		player
		segment

Question 40

Reference group influences would be most likely to be significant in the decision to buy

		a loaf of bread
		a Mercedes Benz
		a clock radio
		cellophane tape

Question 41

Internal search in the consumer decision process may include

		subscribing to consumer magazines to evaluate alternatives
		talking to family members
		reviewing past purchases
		surveying coworkers for buying options

Question 42

The process of dividing the total market into several smaller, homogeneous groups is called

		market penetration
		market segmentation
		market mixing
		market division

True of False

Bill is an aging snowboard instructor at a local ski resort. All winter, he takes over the counter pain medication to deal with his aching joints. Each summer, he moves home with his parents and takes a part time job making minimum wage. This summer, he got qualified for and enrolled into state government subsidized health insurance. Now he plans to undergo arthroscopic surgery by the end of the summer to repair his knee. Though this is an economically rational decision for Bill, it represents a welfare loss to society as a whole.

Catastrophic medical expenses are large, infrequent and unpredictable. Risk aversion explains why people buy insurance which covers such catastrophic events.

The primary funding source for the expenses of current Medicare beneficiaries is the fund current beneficiaries contributed to throughout their lifetime.

Many useful medical technologies become wasteful when they are expanded to include low-risk individuals.

A problem with Cost-Benefit Analysis is that

a) scientists observe peopleâs behavior to calculate how much individuals are willing to pay for a particular treatment.

b) opportunity cost is measured as the value of the next best alternative foregone.

c) the perspective of the one benefitting from the medical service must be included.

d) sometimes subtle distinctions in the alternatives considered as opportunity costs may overstate the benefits of a treatment.

e) the use of expected values employs the statistical law of large numbers and this is not acceptable for individual decision making analysis.

Which of the following is an example of adverse selection in the private health insurance market?

a) Consumers regularly engaging in bungee jumping but being able to hide it from their insurer, who developed premiums based on the average utilization rates of that large group in the past.

b) Consumers anticipating regular (twice a year) visits to the dentist for preventive care but being able to hide it from their insurer, who developed premiums based on the average utilization rates of that large group in the past.

c) Young and healthy consumers having access to multiple plans offered by the employer (from low-priced HMO and high-deductible plans to higher-priced PPO) and ultimately choosing the most comprehensive PPO plan.

d) Elderly people enrolling in Medicare.

e) Poor family enrolling their chronically ill children in Medicaid.

AGRI 215 Lecture Notes - Broccoli, Grocery Store, Tillage

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