Climate is not a primary factor of agricultural production, as it is an external factor that cannot be controlled by farmers.

Agricultural Economics is the branch of economics that deals with the allocation and use of agricultural resources.

Diminishing returns occur when additional units of an input (e.g., labor or fertilizer) yield successively smaller increases in output.

Duopoly is not a type of agricultural market structure, as it refers to a market with only two sellers.

The demand curve for an agricultural product typically slopes downward, indicating that as the price of the product increases, the quantity demanded decreases.

The supply curve for an agricultural product typically slopes upward, indicating that as the price of the product increases, the quantity supplied increases.

The equilibrium price in an agricultural market is determined by the point where the demand curve and the supply curve intersect.

Exchange rates are not a type of agricultural trade policy, as they are determined by market forces rather than government intervention.

The WTO is responsible for promoting free trade, setting tariffs and quotas, negotiating trade agreements, and resolving trade disputes.

The FAO is a specialized agency of the United Nations that works to improve nutrition and promote sustainable agriculture.

Russia is not a major agricultural exporting country, as it is primarily focused on domestic production.

The United States is not a major agricultural importing country, as it is a major producer and exporter of agricultural products.

The Green Revolution was a period of rapid agricultural growth in the mid-20th century, driven by the introduction of new technologies and practices.

Technological advancements are not a challenge facing global agriculture, as they can help to address many of the other challenges.

The future of agricultural economics and trade is likely to be shaped by a combination of technological innovations, changing consumer preferences, climate change, and globalization.