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National Open University Exam Past Question – AEM 451 October, 2013 Examination

NATIONAL OPEN UNIVERSITY OF NIGERIA AEM 451 FARM BUSINESS ORGANIZATION

14/16, Ahmadu Bellow Way, Victoria Island

 

SCHOOL OF SCIENCE AND TECHNOLOGY

 

October, 2013 Examination

 

 

Course Code:   AEM 451:

 

Course Title:    FARM BUSINESS ORGANIZATION

 

TIME:   2 ½ HOURS

 

INSTRUCTION:   ANSWER ONLY 5 QUESTIONS

 

 

  1. 1. a. What is land consolidation?
  2. b. As a professional, what advice would you offer to a farmer when land is limited in supply, in order to enhance his productivity?
  3. In what ways can the gross margin per man-hour be increased?
  4. d. Mention five factors usually considered in the organization of a farm set?

 

  1. 2. a. Mention the four major functions of managemen
  2. b. Mention the eight problem solving approaches in farm managemen c. By their definition, differentiate between budgeting and farm budget. d.  Mention the two different budgeting types.

 

  1. 3. a. Name the two major approaches of collecting farm management information.
  2. b. Under these two major approaches, list the different methods of collecting farm management information.
  3. Define a farm asset.
  4. d. With two examples each, mention three classes of asset

 

  1. 4. a. What are the practices for enhancing good farm management and minimizing risks?
  2. b. For a livestock enterprise, what considerations or practices would you carry out for effective management and risk minimization?
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  1. 5. a. What are the rewards for using farm resources or factors of production?
  2. b. Mention three methods of acquiring factors of production. c. State the uses of factors of production.
  3. d. State four relevance of resource productivity.
  4. 6. a. What is liquidity in farm management?
  5. b. Mention four main indicators of liquidity.
  6. Define each of the four main indicators of liquidity. d.    What is solvency?

 

  1. 7. a. Define agricultu
  2. b. What are the productive resources in agriculture? Define them. c. Define farm managem
  3. d. State four objectives of farm managem

 

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