(a (i) State the law of supply in relation to agricultural production. (ii) Give an example of supply schedule and draw the supply curve for a named agricultural produce.
(b) State five causes of change in supply of an agricultural produce.
(a) State six reasons why farm accounts should be kept by a farmer.
(b) Prepare a profit and loss account for Ada Farms, for the year ending December, 1993 using the following information.
(i) cost of maize seeds- N1,500.00
(ii) cost of fertilizer - N1,600.00
(iii) cost of insecticides - N1,000.00
(iv) tractor hiring- N1,000.00
(v) cost of herbicides- N1,200.00
(vi) cost of cassava stems N1300.00
(vii) sales of maize- N30,000.00
(viii) sales of yam tubers - N10,500.00
(ix) sales of cassava stems - N15,000.00
(x) transportation cost - N1,500.00
(xi) cost of processing cassava tubers - N 2,500.00
(xii) sales of cassava stems - N 22,00.00
(xiii) wages of workers N 8,000.00
(xiv) miscellaneous expenses - N 2,000.00
(xv) maize consumed - N 500.00
(xvi) yam consumed - N 800.00
(xvii) opening valuation - N45,000.00
(xviii) closing valuation - N15,000.00
Discuss briefly the essential features of the following (a) communal land tenure (b) individual land tenure and their effects on Agriculture
(a) (i) Define weathering (ii) State two types of weathering
(b) Discuss briefly four factors which influence weathering
