AEC 219: AGRICULTURAL ECONOMICSHomework Assignment 1: Chapter 1 Each problem is worth 10 pointsShowall yourwork wherever possibletoearn full credit!!!1. What are the four major sectors in the food industry?Farm service sector, Producer, Processor, Marketer2. What is concentration in the processors sector?The processors sector processes raw material into a new product such as wheat to flower, and then into bread.3. What is vertical integration?Vertical Integration is the combination of two or more stages of production.4. What is globalization?When companies expand to international markets.5. The producer sector would NOT include aA) California wine growerB) meat packing plantC) horticultural nurseryD) Florida orange groveE) none of the above6. Which food industry sector is closest to the final food consumer?
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