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Animal Economics & Management > PQ > Flashcards

PQ Flashcards

1
Q

Which of the following is an indirect effect of animal disease?

a. Collapse of milk export trade
b. abortions
c. decrease in FCR
d. less number of piglets/litter

A

a. Collapse of milk export trade

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2
Q

Which of the following nutrient metabolisms can be altered by the animal diseases?

a. Protein metabolism
b. Energy metabolism
c. Mineral metabolism
d. All of them

A

d. All of them

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3
Q

Which of the following is a special service?

a. Pet food
b. Ultrasound
c. Pet shop
d. Grooming

A

b. Ultrasound

  • the others are supplementary service
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4
Q

Which of the following community activities could help building up personal social structure of a veterinarian?

a. Scientific society
b. Charitable organizations
c. Sport clubs
d. All of them

A

d. All of them

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5
Q

Which of the following is NOT a special card mailing/ e-mail?

a. Referral
b. Sympathy
c. Reminder
d. Welcome

A

c. Reminder

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6
Q

Which of the following is NOT a PR activity?

a. Presentations
b. Sponsoring special programs
c. Newsletter
d. Education in primary schools

A

c. Newsletter

PR= public relations: everything the vet does in the public except advertising such as giving:
- interviews
- presentations
- publishing
- articles
- educating people

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7
Q

Which of the following is NOT a part of a marketing plan?

a. Market survey and analysis
b. Risk analysis
c. Price-setting
d.. Marketing communication

A

b. Risk analysis

Marketing plan:
- Market survey and analysis
- proce settings
- Marketing communication
- patient turnover and income per animal

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8
Q

Which of the following is a durable good?

a. X-ray machine
b. Vaccines
c. Endoectocides
d. Surgery gloves

A

a. X-ray machine: durable good: > 1 year

non durable good: < 1 year
- vaccines
- endoectoides
- surgery gloves

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9
Q

Which of the following is NOT true for the depreciation?

a. cost item
b. cash-outflow
c. accounted for durable goods
d. could be linear, regressive or progressive

A

b. cash-outflow

(included in the financial plan)

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10
Q

How many examination rooms per vet are recommended in a small animal clinic?

a. 1
b. 2
c. 3
d. Depending on the Vet

A

b. 2

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11
Q

Which of the following could be a source of personal referrals?

a. Clients
b. Business contacts
c. Staff networks
d. All of them

A

d. All of them

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12
Q

Which of the following is a direct effect of animal disease?

a. collapse of milk export trade
b. less benefits to the young parents
c. less investment in food processing plants
d. reduced fertility

A

d. reduced fertility

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13
Q

Which of the following physiological processes can be affected by the animal disease?

a. nutrient metabolism
b. respiration
c. excretion
d. all of them

A

d. all of them

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14
Q

which of the following is a supplementary service?

a. Grooming
b. X-ray
c. Hospital care
d. Laboratory

A

a. Grooming

other are special service

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15
Q

Which of the following marketing communication tool is a PR (public relation) activity?

a. Webpage of the clinic
b. Local cable TV ad
c. Yellow pages ad
d. Scientific article

A

d. Scientific article

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16
Q

Which of the following is a cross-marketing?

a. Selling a canine pet food to existing cat owners

b. Selling the boarding service to new dog owners

c. Selling a new canine product to existing dog owners

d. Selling a feline pet food to existing cat owners

A

a. Selling a canine pet food to existing cat owners

cross marketing: selling new services to existing clients

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17
Q

Which of the following is a non-durable good?

a. Ultrasound machine
b. Bandages
c. Car
d. Operating table

A

b. Bandages

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18
Q

Which of the following is NOT a part of the financial plan?

a. Profit and loss plan
b. Cash-flow plan
c. Enterprise budgeting
d. Preliminary balance sheet

A

c. Enterprise budgeting

profit and loss plan is based on :
- income plan (estimated based on the patient turnover + income per patient
- cost plan
- direct- indirect cost
- fixed - variable cost
- profitt plan
- income - cost = profit plan ( pr loss plan)
- cash-flow plan ( for year 1 in monthly basis)
- preliminary balance sheet

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19
Q

Which of the following is NOT a pricing strategy?

a. SWOT-analysis based
b. Cost based
c. Competition based
d. Obligatory minimum prices

A

a. SWOT-analysis based = risk analysis

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20
Q

How many minutes can an average client wait without losing patience in a waiting room?

a. 5 min.
b. 8 min.
c. 15 min.
d. 25 min.

A

b. 8 min.

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21
Q

Which of the following is a supplementary service?

a. X-ray
b. Pet food
c. Hospital care
d. Laboratory

A

b. Pet food

rest are special service

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22
Q

Which of the following is a non-durable good?

a. disinfectants
b. ultrasound machine
c. car
d. operating table

A

a. disinfectants

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23
Q

Which of the following is NOT a part of the financial plan?

a. profit and loss plan
b. marketing plan
c. cash-flow plan
d. preliminary balance sheet

A

b. marketing plan

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24
Q

What is true for communication?

A

Charles Darwin has also examined the evolutionary found of communication

25
Q

Which of the following is a self-awareness test used in psychology?

A

The “draw a tree” test

26
Q

Which topics does macroeconomics deal with?

A

Infiltration, unemployment

27
Q

Explain net farm income!

A

NFI = Gross margin - Fixed cost

28
Q

What techniques does decision analysis include?

A
  1. Mathematical equations
  2. Payoff matrices
  3. Process flow charts
  4. Decision trees
29
Q

Where could profit be maximized?

A

MC=MR

30
Q

Explain the NVP (net present value)

A
  • Total PV of benefits - total PV cost
  • net present value
  • expresses the differences between the total present value of benefit & costs
31
Q

What are the three categories of resources?

A
  • Land
  • Labour
  • Capital
32
Q

What is the law of demand?

A

There is an inverse relationship between the price of a good & quantity of buyers wishing to purchase in a defined period of time

33
Q

What factors could cause a shift in demand curve?

A
  • Tastes & preferences
  • No. of buyers on the market
  • Income
  • Expectations of consumers - Prices of related goods
34
Q

Supposing a university enrolment drops by 10% because tuition raises by 5%, what is the price elasticity of demand?

A

Ed = -10% / 5% = -2/1 = 2
Ed = 2

35
Q

What could be the direct effects of diseases in a pig fattening unit in terms of resources &/or of products?

A
  • Affects livestock resource transformation process
  • Results in extra resource use
  • Fewer animal products than before
36
Q

What are the measurable effects of diseases on animal productivity?

A
  • Premature death
  • Changed value of animals & products from
  • slaughthered animals
  • Reduced live weight gain
  • Reduced yield & quality of products from the animals
  • Decreased capacity for work
  • Altered FCE
37
Q

Explained fixed cost

A

cost that don’t vary as output varies, & must be paid even if output is zero

38
Q

Which of the following is a direct effect of animal disease?

A
  • Reduced milk yield
  • Reduced fertility
39
Q

Explane: Variable cost

A

costs that are zero if output is zero, varies if output varies

40
Q

Explane: Marginal cost

A

change in total cost when one unit of output is produced

41
Q

Supplementary services:

A
  • Pet food
  • grooming
42
Q

Which of the following marketing communication tool is a PR activity?

A

Scientific (article)

43
Q

Which of the following could be a source of personal referrals?

A

All of them (clients, buisness contacts, staff networks)

44
Q

Which of the following is cross marketing?

A
  • Selling feline pet food to existing dog owners.
  • Selling a canine pet food to existing cat owner.
45
Q

Which of the following is a non-durable good?

A
  • Disinfectants.
  • Bandages.
46
Q

Which of the following is NOT a part of the financial plan?

A
  • Marketing plan.
  • Enterprise budget.
47
Q

Which of the following is NOT a pricing strategy?

A

PEST-analysis based. (political, economic, socio-cultural, technological)

SWOT - analysis based (strength, weaknesses, opportunities, threats)

48
Q

We are modelling the effects of the yearly number of veterinary visits on the farm profit in a pig breeding unit. At first we use the current prices for both inputs & outputs, but in the second place we change the price of piglets. What is the name of the second analysis & for what do we do this?

A

Sensitivity analysis
Reason for this is to find the break-even point
No visit should be preferred when the MR never exceed the AVC

49
Q

What is the main difference between the conventional & the partial budget?

A

Conventional budget - easiest method of calculating farm profits

Partial budget - method of choice when proposed analysis concerns simple economic comparison with no specific time or high degree of uncertainty & does not affect the whole expense of the farm

50
Q

How much is the real interest rate if the average nominal (market) interest rate is 9% and the inflation is 5% ?

A

9-5 = 4%

51
Q

Describe the losses due to mastitis in a dairy herd!

A

Mastitis subclinical/clinical
—> reduces milk receipts (decreased milk production/quality , discarded)
—>premature disposal
—>treatment costs(vet, drugs, extra labour)

52
Q

What is the production function? Give an example assuming you as veterinary consultant recommend an anthelmintic preventive procedure for a dairy unit!

A

Reproduction function relationship between amount of input & the output produced

53
Q

Consider the following statement & say whether it is true or false? Explain you answer! When the objective of the eradication program is to get at least as much money back for every dollar invested in it, the Net Present Value is the best selection criterion

A

NPV = differences between the total present value of benefit & costs —> because NPV shows what your net result is from your total investment, B/C ratio shows what you get back from each dollar.

54
Q

Which of the following is a special service?

A

X-Ray. Ultrasound

55
Q

Which of the following is an indirect effect of animal disease

a.ban on live animal trade
b.decrease in ADG
c. Increase in FCR.
d. Less number of piglets/litter

A

a.ban on live animal trade

56
Q

Which of the following is NOT a special card mailing/e-mail?

a. Referral.
b.Sympathy.
c.Welcome.
d.Vaccination reminder

A

d.Vaccination reminder

57
Q

Which of the following is NOT a PR activity:

a.Presentation.
b. Cable TV ad
c. Sponsoring special programs
d.Education in primary schools

A

b. Cable TV ad

58
Q

Which of the following is a durable good?
a.Endectocides
b.vaccines.
C.operation table.
D.surgery gloves

A

C.operation table.

Animal Economics & Management (3 decks)

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