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National Open University Exam Past Question – AEM450 JUNE/JULY EXAMINATION

NATIONAL OPEN UNIVERSITY OF NIGERIA AEM450 Agricultural Finance and Marketing

14/16 AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS SCHOOL OF SCIENCE AND TECHNOLOGY JUNE/JULY EXAMINATION

 

COURSE CODE: AEM450

COURSE TITLE: Agricultural Finance and Marketing (3 unit)

TIME ALLOWED: 3 Hours

INSTRUCTION: Answer section A and any other 4 questions in section B

 

 

 

SECTION A: (Compulsory 20 marks)

 

  1. The process of obtaining control over the use of money, goods and services in the present, in exchange for a promise to repay at a future date.
  2. The institutional sources are those recognized institutions which follow standardized procedures of lending. The Nigerian Agricultural Cooperative and Rural Development Bank (NACRDB) is an example of what type of banks?
  3. …………..is the primary legal document in most loan contract. It is the written promise of the borrower to repay the loan.
  4. Purchases on Contract are sometimes simply referred to as ………………….

 

  1. The term “amortization”, strictly speaking means ………………………..

 

  1. ……….refers to the complete count and evaluation of all assets and liabilities on the farm at a specified date.
  2. The balance sheet, otherwise known as a ………………is a summary of assets and abilities

 

of the business together with a statement of the owner’s equity .

 

  1. A market structure characterised by a complete absence of rivalry among the individual firms.
  2. Which market structure exists when there are more than one seller in the market, but the
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number of sellers is sufficiently small such that the action of one has some perceptible effects on other firms.

  1. The degree of responsiveness of the demand for a good, to a change in the various factors

 

that affect demand is known as………………………..

 

SECTION B

 

  1. List and briefly explain Five (5) Procedures of Agricultural Loan Repayment?

 

  1. (a)Define the concepts of market as regard agricultural products

 

(b) List and briefly explain four types of Market structures

 

  1. (a)Define the term Elasticity of supply

 

(b) List and briefly explain the basic determinants of the elasticity of supply of a commodity with respect to its own price.

  1. (a) Define the concepts of marketing as regard agricultural products. (b) List 10 problems of agricultural marketing in your Nigeria.
  2. (a) List of sources of finances readily available to peasant farmers

 

(b) Highlight the limitations of the Institutional or formal and Non-institutional sources of finance.

 

  1. (a) What is farm budget?

 

(b)List the 3 types of Farm Budgeting.

 

(c) Enumerate the criticisms associated with budgeting as a farm planning tool.

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