AE_289-09_Exam_1

AE_289-09_Exam_1 - 1 EXAM #1 AE 289, 6 Feb 09 Name_ Score _...

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EXAM #1 AE 289, 6 Feb 09 Name___________________________ Score _________ INTRODUCTION TO FOOD MARKETING (20 points) Multiple Choice. Circle the best answer. (2 points each) 1. Which of the following is NOT a market function? a. Exchange products and money b. Reward all producers who take a risk c. Punish producers who make inefficient decisions d. Reward buyers who make correct decisions 2. Which of the following is NOT a direct link on the food marketing chain? a. Consumers purchasing meals at McDonald’s b. Idaho alfalfa seed growers c. Members of the US Senate Agriculture Committee d. Truckers hauling beef to Albertson’s supermarkets 3. Which of the following provides FORM utility in food marketing? a. A chef at a Korean restaurant preparing kimchi b. Transporting cabbage from the field to the storage facility c. Providing insurance on a cabbage storage facility d. Storing cabbage in a fresh-packer’s facility Fill in the Blanks. (2 points each) 4. Which of the four types of utility best apply for each of these situations a. An Applebee’s waiter brings food to your table. _____________________________ b. A McDonald’s restaurant manager stocks supplies of ketchup. _____________________________ c. A vending machine takes your money in exchange for a beverage. _____________________________ d. Wulf stores his potatoes on his farm until he chooses to sell them. _____________________________ e. You cook a meal for your friends. _____________________________ True or False.
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This note was uploaded on 02/28/2011 for the course AE 289 taught by Professor Larrymakus during the Fall '09 term at Idaho.

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AE_289-09_Exam_1 - 1 EXAM #1 AE 289, 6 Feb 09 Name_ Score _...

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