Question

Read the following statements about 'agribusiness' carefully and choose the correct option: I. It is a commercial farming on an industrial scale.
II. Its raw materials are received from forests.
III. It is highly structured, mechanised and large in size.
IV. Its example is tea plantation.

• A. Only I, II and IV are correct.
• B. Only I, II and IV are correct.
• C. Only I, II and III are correct.
• D. Only I, II, III and IV are correct.

Hint:

Agribusiness = Agriculture + Business. It involves large-scale commercial farming (like tea, coffee, rubber plantations). Remember: Forest products are not raw materials for agribusiness.

Answer 1

The Correct Option is C

Step 1: Understand the concept of agribusiness.
Agribusiness refers to commercial farming on an industrial scale, involving large-scale production, processing, and distribution of agricultural products. It is a highly integrated system that includes inputs, production, processing, and marketing.
Step 2: Analyze each statement about agribusiness.

• Statement I: "It is a commercial farming on an industrial scale." - Correct.} Agribusiness is indeed commercial farming conducted on a large, industrial scale with significant capital investment.
• Statement II: "Its raw materials are received from forests." - Incorrect.} Agribusiness primarily deals with agricultural crops and livestock, not forest products. Forest-based industries fall under a different category (forestry).
• Statement III: "It is highly structured, mechanised and large in size." - Correct.} Agribusiness operations are characterized by high levels of organization, mechanization, and large-scale operations.
• Statement IV: "Its example is tea plantation." - Correct.} Tea plantations are classic examples of agribusiness, involving large-scale commercial cultivation, processing, and marketing.

Step 3: Identify which statements are correct.
Correct statements: I, III, and IV
Incorrect statement: II
Step 4: Analysis of each option.

• (A) Only I, II and IV are correct: Incorrect. Statement II is wrong, so this combination is invalid.
• (B) Only I, II and IV are correct: This appears to be a duplicate of option A (probably a typo in the question paper). Both A and B say the same thing.
• (C) Only I, II and III are correct: Correct.} This option correctly identifies I, III, and IV as correct statements, and excludes II.
• (D) Only I, II, III and IV are correct: Incorrect. This includes statement II, which is false.

Final Answer:} (C) Only I, II and III are correct.