Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password

Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Pricing Process Test

Enter the letter for the matching Answer
incorrect
1.
Commodity exchanges.
incorrect
2.
Canadian auction
incorrect
3.
Differentiated, narrow
incorrect
4.
Individual negotiation
incorrect
5.
Criticism against commodity markets
incorrect
6.
Terminal livestock exchanges
incorrect
7.
Bargaining agency
incorrect
8.
Cash, future
incorrect
9.
Publicly or privately owned facility
incorrect
10.
Unduly, undermined
incorrect
11.
#2 The quality of the products sold on the exchange is broadly representative of total production
incorrect
12.
nonfarm
incorrect
13.
Administered prices, central
incorrect
14.
Auction markets
incorrect
15.
Upper
incorrect
16.
Administered pricing
incorrect
17.
1. Individual negotiations 2. Organized markets 3. Formula pricing 4. Administered prices 5. Group or collective bargaining
incorrect
18.
Bargaining association
incorrect
19.
Futures
incorrect
20.
Commodity exchanges
A.
Although not yet fully enforced in the country, a number of internationally traded commodities such as sugar, coconut oil and gold to name a few, are priced in this way in the world market.
B.
The ____ limit is determined by the price offered by competitors for similar products.
C.
In the ____ sector, such decisions are made by private firms.
D.
A firm which attempts to raise prices ____ will find its market position ____ by competition rom existing products by the development of substitute products, and by the entry of new firms.
E.
Conditions in approx equilibrium prices in organized market
F.
Type of market for commodities which are difficult to standardize.
G.
Must have complete control over price so that outsiders cannot offer a lower price for the product.
H.
One participant is better informed on market conditions than the other, the price in a given transaction may be higher or lower than when both participants have sufficient information.
I.
Tomek and Robinson (1988) - Mechanisms of price discovery
J.
Auction wherein offers are started at somewhat the anticipated prices. The offering price declines until someone accepts
K.
The exchanges provide a site for trading to take place under specified rules.
L.
Most agricultural products are sold under circumstances where ____ markets do not exist and where individual negotiation is impractical and costly.
M.
Require producers to cutback or restrain supply in order to obtain higher prices.
N.
In advanced countries, especially the United States, trading in ___ markets has declined whereas ____ trading has increased.
O.
Livestock producers consign their animals to a commission firm at the terminals.
P.
To assure farmers of a fair price or equitable price
Q.
Firms producing a _____ product have some discretion in deciding at what price to sell but in most cases the zone of discretion in pricing is quite ____.
R.
A representative price quotation thus becomes more difficult to obtain from a large number of decentralized markets than from a few central ones.
S.
The mechanics of trading _____ deals with the allocation of supply of the commodity over time and the elimination of some risks associated with holding commodities.
T.
The more traditional type of auction market is a ___ or ____ owned facility where sellers bring their products.
Type the Question that corresponds to the displayed Answer.
incorrect
21.
Form of trading which specifies the minimum grade or particular grades of a commodity which must be delivered in fulfillment of the contract at some future date.
incorrect
22.
____ in production, if small, will be acceptable to farmers
incorrect
23.
Most common way of pricing farm products in the PH
incorrect
24.
Sole means of pricing a widely traded product would probably be costly.
incorrect
25.
In pure form with equal market power and equal information for the participant, it is the implicit procedure of the competitive market model.
incorrect
26.
Prices tend to fluctuate excessively and at time irrationally in response to ____ or mass ____.
incorrect
27.
Market system wherein buyers are able to observe each animal or each lot of product.
incorrect
28.
To provide incentives to increase production as in palay
incorrect
29.
Slowly replaced individual transactions like auctions or commodity exchanges
incorrect
30.
Formal rules are usually not in evidence.

edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how
Created by: jisoos
Popular Economics sets