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LEA Reviewer – Agricultural Marketing Exam

Editorial Team Editorial Team

This LEA reviewer contains questions on agricultural marketing and production economics.

  • Question of

    Agricultural marketing consists of a series of services performed from the point of:

    • production
    • arrival
    • consumption
    • market place
  • Question of

    Services included physical functions of that transport that creates

    • place
    • buying capacity
    • time
    • form
  • Question of

    Storage functions that creates

    • time utility
    • possession utility
    • form utility
    • place utility
  • Question of

    Processing creates

    • form utility
    • place utility
    • time utility
    • possession utility
  • Question of

    Consists of group of sellers and buyers that facilitates for trading

    • supermarket
    • market
    • public market
    • retail market
  • Question of

    Responsible for bringing the products available at the right time, place and form

    • traders
    • truckers
    • brokers
    • commission agent
  • Question of

    The various stages at which products pass from the farm to the consumer is called

    • raw materials
    • market channels
    • marketing
    • retailing
  • Question of

    Characteristics of the product that affect agricultural marketing included

    • perishability
    • packaging
    • graded
    • sorting
  • Question of

    Characteristics of the consumers that affect marketing included

    • income
    • height
    • well traveled
    • level of education
  • Question of

    Characteristics of producers that affect marketing

    • small farm size
    • old
    • high income
    • uneducated
  • Question of

    Problems of agriculture different from industries

    • biological in nature
    • production could be programmed
    • price makers
    • products could be branded
  • Question of

    Study of marketing could be done by studying the commodity called

    • functional
    • commodity
    • institutional
    • structural approach
  • Question of

    Types of traders who buys from farmers and sale directly to retailers in volume

    • wholesaler
    • processors
    • truckers
    • commission agent
  • Question of

    Types of traders who sells directly to consumers located mostly in public markets

    • wholesaler
    • retailer
    • commission agent
    • barrio buyers
  • Question of

    Refers to how the market is organized that determines the relation between the buyers and the sellers

    • structure
    • behavior
    • conduct
    • efficiency
  • Question of

    One type of market structure is where no one buyer or seller could influence the price in the market

    • monopoly
    • monopsony
    • bilateral monopoly
    • oligopoly
  • Question of

    When there is one seller the market structure is called

    • monopoly
    • monopsony
    • monogamy
    • monoculture
  • Question of

    When there is large numbers of sellers selling differentiated products the market structure of the market is called

    • oligopoly
    • oligopsomy
    • polypogopoly
    • monopolistic
  • Question of

    Negotiated prices could be determined through

    • bargaining
    • threatening
    • supply and demand
    • government
  • Question of

    If the individual has no power in the market in which he/she buys or sell he or she is

    • price maker
    • price taker
    • price setter
    • price dictator
  • Question of

    If he/she could dictate the price he/she is a

    • price taker
    • price seeker
    • price maker
    • price negotiator
  • Question of

    Price could also be set by the government which are considered as the minimum price

    • ceiling price
    • floor price
    • price map
    • price tag
  • Question of

    The maximum is called in the case of rice

    • price ceiling
    • normal price
    • price dictated by demand and supply
    • price tag
  • Question of

    Marketing could be improved by providing support that will inform the buyers and seller in the market through the mass media. This function is

    • market information
    • price manipulation
    • price dissemination
    • price monitoring
  • Question of

    The difference between the price that the consumer pay for the final product and the price received by producers for the raw product

    • marketing margin
    • price margin
    • profit
    • marketing cost
  • Question of

    Types of margin where the absolute difference between prices at two levels is constant in peso term

    • mark-up
    • constant margin
    • marketing cost
    • relative margin
  • Question of

    The difference between the price received and price paid by the different middlemen performing different functions divided by the retail price is often referred to as

    • breakdown of consumer peso
    • mark-up
    • buying price- selling price
    • break-down of farmers peso
  • Question of

    The cost of performing marketing services are called

    • transport cost
    • marketing cost
    • profit
    • margin
  • Question of

    Method of differentiating the products to meet the consumers’ desires is called

    • standardization
    • grading
    • quality control
    • branding
  • Question of

    Practice of making quality specification of grades uniform among buyers and sellers

    • packaging
    • advertising
    • standardization
    • grading
  • Question of

    In marketing an important consideration in locating the processing plant is to know what happens to the weight and volume of the product after processing. If the products gains weight the plant should be located in the

    • market centers
    • production centers
    • anywhere
    • cities
  • Question of

    Most agricultural products have low price elasticity of demand. Elasticity of demand for rice is generally

    • less than one
    • greater than one
    • equal to one
    • greater than 2 because rice is a necessity
  • Question of

    Some products their elasticity is relatively higher, one example of product with higher elasticity is

    • salt
    • fruits
    • soft drinks
    • meat
  • Question of

    Structure of market that farmers have to take the prices as given

    • monopoly
    • oligopoly
    • perfect competition
    • monopsony
  • Question of

    The P’s in marketing are: Whom are they the farmers markets to? What do they want or need? Who is actually going to market the product? This P is

    • People
    • Product
    • Promotion
    • Price
  • Question of

    What is to be marketed? What the customer wants. This P is

    • people
    • product
    • promotion
    • price
  • Question of

    Where is it to be marketed? How far it is from the farm? This P is

    • place
    • product
    • promotion
    • price
  • Question of

    How much is the farmer is going to charge his/her products? This P is

    • price
    • product
    • promotion
    • place
  • Question of

    How does the farmer inform about his/her products? This P is

    • people
    • product
    • promotion
    • place
  • Question of

    Yield or productivity refers to the concept of

    • Marginal product
    • Isoquant
    • Average product
    • None of the above
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