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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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