NATIONAL OPEN UNIVERSITY OF NIGERIA
14/16 AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS
SCHOOL OF SCIENCE AND TECHNOLOGY
MARCH/APRIL 2014 EXAMINATION
COURSE CODE: AEM450
COURSE TITLE: AGRICULTURAL FINANCE AND MARKETING
TIME ALLOWED: 2 HOURS
INSTRUCTION:ANSWER 5 QUESTIONS (ALL QUESTIONS CARRY EQUAL MARKS)
QUESTIONS
1 a. Define Agricultural Finance and Agricultural credit.
b. Explain with two examples each, the classification of sources of finance.
c. State three roles of credit in farm business.
2 List three major credit instruments involved in the extension of credit and describe any two.
b. Briefly discuss four methods of agricultural repayment.
c. Give five reasons why record keeping of farm activities are important
3 a. Write short notes on any three of the following farm records.
i. Inventory records ii. Production records iii. Farm receipts records iv. Payroll/ labor records v. Farm operation records.
b. Briefly discuss any five basic principles of farm accounting.
4 a. Define the term budgeting.
b. Briefly discuss three types of budgeting as a farming tool.
c. State five criticisms of budgeting as a farm planning tool.
5 a. Identify two approaches to an efficient financial management on a commercial farm
b. List four types of market that exists and give any two characteristics of each.
c. State five importance of marketing in agricultural business.
6 a. Discuss five types of price elasticity of supply.
b. Discuss six problems of agricultural marketing
c. Define the law of demand.
7 Briefly discuss some factors affecting demand for a particular commodity.
b. Identify three types of elasticities of demand.
c. Briefly discuss major determinants of price elasticity of demand.
d. Briefly discuss the major determinants of income elasticity.
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