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. a. What is land consolidation?
- b. As a professional, what advice would you offer to a farmer when land is limited in supply, in order to enhance his productivity?
- In what ways can the gross margin per man-hour be increased?
- d. Mention five factors usually considered in the organization of a farm set?
- 2. a. Mention the four major functions of managemen
- 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.
- 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.
- Define a farm asset.
- d. With two examples each, mention three classes of asset
- 4. a. What are the practices for enhancing good farm management and minimizing risks?
- b. For a livestock enterprise, what considerations or practices would you carry out for effective management and risk minimization?
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- 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.
- Define each of the four main indicators of liquidity. d. What is solvency?
- 7. a. Define agricultu
- b. What are the productive resources in agriculture? Define them. c. Define farm managem
- d. State four objectives of farm managem