Explore the essentials of agribusiness, small scale industries, product lines, and the role of support services in India's agricultural sector. Learn about opportunities, standards, and types of enterprises shaping modern agricultural marketing and agri-business.
Who first introduced the term 'agribusiness' and in what year was it used?
Explanation: John H. Davis of Harvard University first used the term agribusiness in 1955. The other individuals and years listed do not correspond with the original introduction of the term and are unrelated to its origin.
Which of the following best defines agribusiness according to the present context in the material?
Explanation: Agribusiness includes all business enterprises or services selling to farmers, traders, or consumers, covering inputs and produce or services. The other options either limit agribusiness incorrectly or refer to non-agricultural businesses.
Why does India have vast potential for agribusiness based on the provided context?
Explanation: India's varied agro-climates enable the production of many temperate, sub-tropical, and tropical commodities. The other options are inaccurate or incomplete, as India both produces and exports agricultural goods and not all farming is mechanized.
Which of the following services is considered a facilitative service in agribusiness?
Explanation: Facilitative services in agribusiness include credit, insurance, marketing, storage, and similar activities that support agricultural operations. The other options describe basic agricultural operations or natural phenomena, not services.
Which business type involves bringing goods and services to the consumer without making anything new?
Explanation: Distribution involves activities like packaging, transporting, and storing to deliver goods to consumers without producing new items. Production creates new goods, while personal services and franchising have different focuses.
Which area is identified in the text as having high potential for growth in India's agribusiness sector?
Explanation: The text states that organic farming has the highest potential in India due to lower pesticide and inorganic fertilizer use compared to industrial nations. The remaining options are not related to agribusiness growth according to the context.
How does biotechnology contribute to agribusiness, as mentioned in the context?
Explanation: Biotechnology applications in agriculture include producing seeds and bio-control agents, as well as industrial uses of microbes. The other options are not discussed as contributions from biotechnology in the context.
Which sector benefits from increased employment due to enhanced agricultural production?
Explanation: The text lists marketing, transport, cold storage, warehousing, credit, insurance, and logistic support as areas with increased employment due to enhanced agricultural production. The other sectors are unrelated to expanded agricultural production opportunities.