Question

Several small vineyard owners in the Napa Valley region of California banded together to market their grapes and wine in an attempt to get better prices. Over the organization to include other services such as buying and selling farm supplies and equipment and providing financial and technical services. The arrangement established by these vineyard owners is an example of a:________.
1. closed corporation.
2. joint venture
3. imited agricultural partnership
4. farm cooperative

Answer 1

Answer: Farm cooperative.

Explanation:

A farm cooperative is a type of agricultural business that is owned by farmers who pool their resources together in their farm or livestock production  by performing and adding  various services methods  in terms of packaging, distribution, providing financial and technical services and marketing of their production so as to get better prices and increased sales.

for instance Napa Valley vine owners coming together to include other services so as to get more profit for sale of their produce

Answer 2

Answer:

4. farm cooperative

Explanation:

A closed corporation is a company whose shareholders comprise of a small & select group of individuals e.g a family. Its shares are not available to the general public

A joint venture is a business arrangement in which two or more businesses join forces and resources together towards accomplishing a specific project or task. This enterprise is undertaken so that the businesses in collaboration can create an increase in demand of a product and consequently, maximise their profits. However, unlike a partnership, it is time-bound & has a date of cessation.

A limited agricultural partnership involves two or more parties co-owning an agricultural enterprise. This usually involves a formal agreement and proceeds see shared based on the agreement between the parties concerned.

A farm cooperative (also referred to as agricultural cooperative) is a business arrangement that enables farmers to provide optimum products as well as service delivery while also minimising the accompanying risk. This ranges from production of farm inputs to processing to marketing etc. This also helps in lowering the costs of other services such as transport, storage, inputs acquisition, service hiring etc.

The arrangement established by these vineyards owners is a farm cooperative since it will "include other services such as buying and selling farm supplies and equipment and providing technical services".

Hence, option 4 (farm cooperative) is the correct answer