Decision making in AG food


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Flashcards by jake.homich, updated more than 1 year ago
Created by jake.homich over 8 years ago

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Question Answer
Farmers account for approximately what percent of the US population? Less than 2% (1.6%)
The US is the Worlds: Largest importer and exporter of agriculture products and processed food
What share of their income do average consumers generally spend on food? 10% or less
A modern supermarket has how many UPC (universal product codes) 40,000
Expenditures for food consumed away-from-home as a percentage of total food expenditures is approx: 50%
What commodity is relatively small? Milk
In terms of agriculture diversity where does Michigan rank in the US? second
Approx what share of the dollar do farmers earn 6-8 cents of every dollar
The food and fiber marketing system accounts for what percent of the US labor force? 20-25%
In Michigan, which commodity accounts for the highest cash receipts? Milk
The top US fast food chain restaurant, based on value of sale is: McDonald's
What is the largest use of sugar in the US? Bakery & cereal manufacturers
T or F Nearly 90% of US Cereal is produced by the 4 largest food manufacturers True
T or F The largest grocery retailer in the US is Kroger False
T or F Anheuser-Busch is one of the largest buyers of rice in the US True
T or F About 160,000 farms produce most of the food we eat True
T or F Cocoa-Cola out sells pepsi True
T or F Brazil has the worlds largest Ethanol industrty True
T or F The worlds busiest McDonald's is in Tokyo, Japan False (Russia)
T or F If the price of milk doubles at the farm level, then one would expect the retail price of products made from milk, such as ice cream, to double as well False
T or F Nearly 1/3 of all food produced for human consumption is lost or wasted True
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