NATIONAL OPEN UNIVERSITY OF NIGERIA
14/16 AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS
SCHOOL OF SCIENCE AND TECHNOLOGY
MARCH/APRIL 2014 EXAMINATION
COURSE CODE: AEM 451
COURSE TITLE: FARM BUSINESS ORGANIZATION
TIME ALLOWED: 2 ½ HOURS
INSTRUCTION: ANSWER ONLY 5 QUESTIONS
1. a. Why is management important in a farm enterprise?
b. Mention the eight problem solving approaches in farm management.
c. By their definition, differentiate between budgeting and farm budget.
d. Mention the two different budgeting types.
2. a. In order to enhance the productivity of land, what advice would you offer as a professional, when land is in limited supply?
b. In what ways can the gross margin per man-hour be increased?
c. Mention five factors usually considered in the organization of a farm set?
d. Define land consolidation.
3. a. Name the two major approaches of collecting farm management information.
b. Under these two major approaches, list the different methods of collecting farm management information.
c. Define a farm asset.
d. With an example each, mention three classes of assets.
4. a. To enhance good farm management and minimize risk, what farm practices can we opt for?
b. For a livestock enterprise n particular, what considerations or practices would you carry out for effective management and risk minimization?
5. a. What are the rewards for using farm resources or factors of production?
b. Mention three methods of acquiring factors of production.
c. State the uses of factors of production.
d. State four relevance of resource productivity.
6. a. What is liquidity in farm management?
b. Mention four main indicators of liquidity.
c. Define each of the four main indicators of liquidity.
d. What is solvency?
7. a. Define agriculture.
b. What are the productive resources in agriculture? Define them.
c. Define farm management.
d. State four objectives of farm management.
Contact me for your TMA, GST302 Business plan writeup, Project Writeup and also get your Exam Summary for this course.
