Wageningen MSc Management, Economics & Consumer Studies

Netherlands · Wageningen University & Research · pg

206practice questions written to this syllabus
8subjects

Format

Five specialisations; entry on a relevant BSc.

Sections

Over the years

Available in this form from 2022-23. Whether GMAT or GRE is required is not stated on the page and is not verified either way.

Official source: https://www.wur.nl/en/education/master/masters-management-economics-and-consumer-studies

Subjects this exam draws on

Agricultural Marketing & Price Analysis3 questionsAgri Supply Chain & Logistics Management19 questionsAgri Value Chain Management27 questionsInternational Agri Trade & Export Management19 questionsEconomic Development and Agricultural Economies of the World51 questionsNatural Resource & Environmental Economics15 questionsInstitutional Economics22 questionsFood Retail & Agri-food Retail Management50 questions

Five practice questions, worked

Original questions written to this exam's published syllabus and pattern. Not past papers.

1. The European Union's CAP reforms of 1992 (MacSharry) and 2003 mainly:

  1. Abolished all farm support in the EU
  2. Shifted support from price guarantees and intervention buying to direct payments, later decoupled from production
  3. Created minimum purchase prices for rice
  4. Introduced intervention buying for the first time, replacing the direct payments made to farmers since the Treaty of Rome
Answer and working

B. Shifted support from price guarantees and intervention buying to direct payments, later decoupled from production

The CAP began in 1962 with guaranteed prices; 1992 cut support prices and compensated with direct payments, and 2003 decoupled payments from output. Minimum purchase prices for rice are a Chinese policy.

Agricultural Marketing & Price Analysis · Agricultural price policy

2. A value-chain analysis differs from a supply-chain (logistics) analysis mainly because it asks

  1. what the optimal order quantity is at each stage of the chain, given holding costs
  2. which vehicle routes minimise the total distance travelled per delivery
  3. how to minimise transport cost per tonne-kilometre between farm and market
  4. where value is added, who captures it and how the chain is governed
Answer and working

D. where value is added, who captures it and how the chain is governed

Value-chain analysis, from Porter and development economics, focuses on value added, distribution of margins and governance. Transport cost, order quantities and routing are the operational questions of a supply-chain or logistics analysis.

Agri Supply Chain & Logistics Management · Traditional and modern agri supply chains

3. A drought causes food prices to spike for one season, and many households that normally eat adequately cut meals. Which dimension of food security is most directly failing?

  1. Utilisation
  2. Availability in the long run
  3. Stability
  4. Food environment
Answer and working

C. Stability

The four dimensions (1996 World Food Summit) are availability, access, utilisation and stability. A temporary shock that interrupts otherwise adequate access is a failure of stability. Utilisation concerns the body's use of food (diet quality, health, water and sanitation); the food environment is part of the HLPE food-system framework, not a food-security dimension.

Agri Value Chain Management · Global food systems

4. Which is a recognised limitation of the Balassa revealed comparative advantage index?

  1. It reflects trade distortions such as subsidies and ignores imports
  2. It requires detailed domestic price data for each product and every trading partner
  3. It can only take values between 0 and 1
  4. It cannot be computed for agricultural products
Answer and working

A. It reflects trade distortions such as subsidies and ignores imports

RCA uses observed exports, so export subsidies or protection can raise it without any true cost advantage, and imports are ignored. It ranges from 0 to infinity (hence symmetric versions), uses trade not price data, and is widely computed for farm products.

International Agri Trade & Export Management · Absolute and comparative advantage

5. Real agricultural output in a region rises from an index of 100 to 180 over 10 years. The compound annual growth rate is closest to:

  1. 8.0 per cent
  2. 6.1 per cent
  3. 18.0 per cent
  4. 5.0 per cent
Answer and working

B. 6.1 per cent

CAGR = (180/100)^(1/10) − 1 = 6.05 per cent. 8.0 per cent is the simple average (80 ÷ 10), which overstates compound growth; 18.0 divides 180 by 10; 5.0 has no basis in the data.

Economic Development and Agricultural Economies of the World · Measuring growth and development

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