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| any firm involved in the marketing of agricultural products or supplying farm inputs |
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| Behavioral Systems Approach |
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| A study of marketing that focuses on the interdependence and coordination of all key participants and their marketing activities. Markets and prices play key coordinating roles in the marketing systems. |
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| the concept that each consumer decides independently what to buy and that the collection of all these individual decisions directs all production and marketing activities in the economy. |
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| the error of assuming that what holds true for one member of a group will necessarily hold true for the entire group |
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| a study of marketing organized around a classification of activities such as buying, selling, storing, transporting, processing, standardizing, financing, information gathering and risk bearing |
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| a study of marketing featuring the key institutional players, such as processors, retailers, and key marketing institutions (established practices), such as cooperatives, futures markets and marketing orders |
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| the performance of business activities that direct the forward flow of goods and services to customers and accomplish the farmer's or the agribusiness firm's objectives |
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| the performance of all business activities involved in the forward flow of goods and services from producers to consumers |
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| the set of firms that move a commodity from the farm to the consumer |
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| the performance of business activities that direct the flow of agricultural commodities to a firm to satisfy its objectives |
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| a set of competing firms producing similar products or a commodity; it is the seller side of a market. |
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| an observation that buyers typically will buy more at lower prices than at higher prices, other factors held constant |
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| an observation that sellers will ordinarily offer more at higher prices than at lower prices other thing held constant. |
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| all the possible buyers and sellers of a product or commodity |
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| a market of many firms with each competing to sell a product or service slightly differentiated from the others. No competitor is large enough to dominated the others, so monopolistic competition is more competition than monopoly. |
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| a market of only a few firms of fairly similar size; each firm considers the possible reaction of each of its rivals in making pricing and other strategic decisions; entry is usually difficult; product differentiation often exists |
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| a market of many competing firms selling a commodity; each firm is too small for its decisions alone to influence perceptibly the market price |
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| a firm that sets price or negotiates it with those on the other side of the market. (firms in monopolistic and oligopolistic competition) |
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| a market participant that buys or sells such a small part of the market's total that it accepts price as a given (firms in competitive markets) |
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| a characteristic of a market in which buyers perceive significant differences among the products or services offered by various sellers. Product differentiation always exists in monopolistic competition and usually in oligopoly. |
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| those commodity handlers that have little or no power to set their sales prices may focus on maintaining a margin, or specific differential, between sales prices and purchase prices |
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