Alterable qualities of a commodity: a. Eliminate the need for grading b. Yield p

Question

Alterable qualities of a commodity:
a. Eliminate the need for grading
b. Yield prices correlated positively with quality levels if demand is homogenous
c. Is a situation with grade names but no practical examples
d. Is a theoretical concept with no practical examples
e. None of the above

7. Which of the following is NOT a contribution of grading to operational efficiency?
a. Grading improves market news
b. Grading saves time for traders
c. Grading saves time for consumers
d. Grading saves time for lenders
e. Grading permits mixing of separately owned commodities in storage and pooled sales

8. The following are soybean grades except:
a. US #1
b. US #2
c. US #3
d. US #4
e. US #5

9. Grading of beef began in ____ on voluntary basis due to an intense campaign of cattle breeders and feeders.
a. 1910s
b. 1920s
c. 1930s
d. 1940s
e. 1950s

10. The following are egg grades except:
a. AA quality
b. A quality
c. B quality
d. C quality
e. Inedible

Explanation / Answer

Answer:- Alterable qualities of a commodity:

Correct Answer:- Yield prices correlated positively with quality levels if demand is homogeneous

Answer:- 7. Which of the following is NOT a contribution of grading to operational efficiency?
Correct Answer:- a. Grading improves market news

Answer:- The following are soybean grades except:

Correct Answer:- e. US #5

Answer:- 9. Grading of beef began in ____ on voluntary basis due to an intense campaign of cattle breeders and feeders.

Correct Answer:- a. 1910s

Answer:- 10. The following are egg grades except:

Correct Anser:- d. C quality

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