Agricultural Technology Contest
March 27, 2010
Farm Business Management
Contest Description and Rules:
Please direct questions to:
Dr. Stan Schraufnagel
Agricultural Economics Department
University of Wisconsin-River Falls
A written individual exam will be true-false, multiple choice, and short answer questions covering a broad group of topics in farm management. The exam tests the knowledge of students at the high school level.
Questions will be selected from the following areas:
A. Income tax reporting and methods of calculating depreciation.
B. Farm records.
C. Cooperatives - types, purposes and achievements.
D. Farm credit - credit agencies, principles for using credit, and borrowing and repayment plans.
E. Farm law - contracts, legal description of land, deeds, recording, leasing laws, boundaries, fences and trespassing.
F. Production goals in farming.
G. Farm planning and budgeting.
H. Marketing- elementary futures market operations, marketing agencies, simple applications of supply and demand, and livestock and dairy marketing practices.
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