Agec 311:Farm Management Question Paper
Agec 311:Farm Management
Course:Farm Management
Institution: Kenya Methodist University question papers
Exam Year:2013
KENYA METHODIST UNIVERSITY
END OF 3RDTRIMESTER 2013 (SB) EXAMINATION
FACULTY : EDUCATION AND SOCIAL SCIENCES
DEPARTMENT : EDUCATION
UNIT CODE : AGEC 311
UNIT TITLE : FARM MANAGEMENT
TIME : 2 HOURS
INSTRUCTIONS
Answer any three questions
Question One
Describe major risks encountered in farming and how they can be mitigated (20 marks)
Question Two
Explain why it is important for an agribusiness farmer to keep farm records
(10 marks)
Most of the small scale farmers are either semi substance or subsistence farmers. Explain how they can be changed to agribusiness or market oriented farmers
(10 marks)
Question Three
Examine the reasons for low labor productivity in agriculture and explain what farmers can do to increase the same (20 Marks)
Question Four
Given Py1 = Ksh.4, Px1 = Ksh.5
Calculate total revenue (TR), value of average product (VAP), value of marginal product (VMP), total cost (TC) and net revenue (NB) from the hypothetical illustration here below
(5 Marks)
Identify the optimal level of production and state reasons for the same
(5 marks)
Using the same axis draw TP, VAP and VMP curves and name three zones of production.
(10 marks)
Question Five
Using relevant examples draw five types of farm records used in farms for effective operations of the agribusiness (20 Marks)
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