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National Open University Exam Past Question – AEM 450 October, 2013 Examination

NATIONAL OPEN UNIVERSITY OF NIGERIA AEM 450 Agricultural Finance and Marketing

14/16, Ahmadu Bello Way, Victoria Island

 

SCHOOL OF SCIENCE AND TECHNOLOGY October, 2013 Examination

 

Course Code:    AEM 450                                                                                       3 UNITS

Course Title:    Agricultural Finance and Marketing.

TIME:                2hrs 30min

 

Answer 5 Questions (All questions carry equal marks)

1            a.           Define the term Agricultural Financing.                                                            (3 marks)

  1. b. Explain with examples, the classifications of Agricultural Financing.          (8 marks)
  2. Write short notes on any three of the following:                                            (3 marks each)
i. Esusu                  ii. Ajo iii.          Cooperative societies
iv. Commercial banks v. Specialised banks

 

2 a. b. c. Briefly explain five roles of credit in farm businesses.

List three credit instruments and explain any two incisively.

State four ways by which loans can be repaid and explain any two incisively.

(5 marks) (7 marks) (8 marks)
3 a. b. Why is record keeping so important in Agricultural business/ production? State six principles of farm accounting and explain any three. (5 marks) (15 marks)
4 a. b. c. Define budgeting.

Explain the types of budgeting.

Why is budgeting not reliable as a planning tool?

(5 marks) (10 marks (5 marks)
5 a. Define the concepts of market and marketing as regard industrial or agricultural product.

(5 marks)

  1. b. Briefly discuss the major functions performed in the marketing of industrial or agricultural

products.                                                                                                                               (10 marks)

  1. List the types of markets and describe any two.                                                            (5 marks)

 

  1. 6.  Briefly discuss the significance of marketing to the agricultural business sector of the economy.                                                                                                                               (6 marks)
  2. b. State the Law of deman                                                                                                  (4 marks)
  3. List the determinants of demand and explain any three.                                            (10 marks)

 

7            a.           State the law of supply.                                                                                                      (4 marks)

  1. b. List the determinants of supply and explain any thre                                                (10 marks)
i. Price elasticity of supply ii. Perfect elastic of supply
iii. Relatively elastic supply iv. Relative inelastic supply
v. Perfect inelastic supply   vi.          Unitary elastic supply

 

  1. Write briefly on any three of the following terms:                                                        (3 marks each)

 

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