Identify and Briefly Explain Any Three Factors That Weaken the Competitive

question 105

Essay

Identify and briefly explain any three factors that weaken the competitive pressures stemming from the threat that new firms will enter the industry.

Recognize the differences between the markets for "farm products" and "food products".

Analyze the effects of bumper crops and poor crops on farm incomes and prices.

Understand the role of international factors, such as trade relations and the value of the dollar, on U.S. agriculture.

Identify the long-term trends in U.S. agriculture, including changes in farm employment, farm size, and the contribution of agriculture to GDP.

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Definitions:

Marketing Channel

Pathways and processes by which products or services flow from the producer or supplier to the consumer, including logistics, distribution, and retailing activities.

Limited Knowledge

The state of having incomplete or inadequate information about a subject or situation.

Specific Data

Information that is explicitly detailed and tailored to a particular need or requirement.

Marketing Channel

The pathway through which a product or service is moved from the producer to the consumer, including intermediaries like wholesalers and retailers.