AEA303 - Agricultural Production Economics

Last Updated on January 27, 2021

Noun Past Questions For AEA303 – Agricultural Production Economics. Locate the download button below to download the Noun Past Questions for AEA303 – Agricultural Production Economics

NATIONAL OPEN UNIVERSITY OF NIGERIA

University Village, Nnamdi Azikiwe Expressway, Plot 91, Cadastral Zone, Jabi, Abuja

FacultyofAgriculturalSciences,Dept.ofAgriculturalEconomicsandExtension,

PoP Examination Questions, November/December, 2019

Programme: Agricultural Economics and Agribusiness

Course Title: Agricultural Production Economics

Course code: AEA 303

Credit Unit: 2

Time Allowed: 2 Hours

INSTRUCTION: Answer Compulsory question 1 (25 marks) and any 3 other questions (15 marks each).

1 a (i) Explain the term production function with diagram (2 marks)

(ii) State the algebraic expression of production function. (2marks)

b State five (5) relationships between TPP and MPP (5 marks)

c Mention three (3) uses of economics in agriculture ( 3 marks )

d Explain the following resources used in Agricultural production.

i. Fixed resources (3 marks)

ii. Variable resources ( 3 marks)

iii. Flow resources (3 marks)

e. Explain two (2) importance of the law of diminishing returns in Agricultural production (4 mks)

2(a) Itemize five (5) areas of specialisation in Agricultural economics. (5 marks)

(b) Describe five (5) characteristic features of Stage 1 of the production process (10 marks)

3 (a) Discuss the following Law of returns. 9 marks

i) Law of Increasing Returns ( 3marks)

ii) Law of Constant Returns ( 3marks)

iii) Law of Decreasing Returns ( 3marks)

b) Consider the production function of rice output as follows:

Y = 100 + 400X – 2X2

Where Y = rice output (kg) and X = fertilizer application (kg)

Calculate: (i) The level of input that will maximize rice output.

(ii) The optimum quantity of rice that could be produced. 6 marks

4) (a) State the meaning and application of Agricultural Economics (5 marks)

(b) Determine the state of elasticity of production at the three stages of production. (10 marks)

5) ( a) Explain the three (3) types of production:

(i) Primary Production (3 marks)

(ii) Secondary Production (3 marks)

(iii) Tertiary Production ( 3marks)

(b) Discuss three (3) usefulness of production function. (6 marks)

6 (a) Discuss any three (3) factors of production. ( 9 marks)

(b) Explain the Short run and Long run period in production. (6 marks)

					
						DISCLAIMER
			
						Pastquestionsforum is a global focused test-prep company. It is our duty to provide you with the most comprehensive study materials for your examination.  Our study materials are focused on extensive analysis, input from previous test candidates, and, on occasion, official/privileged study materials made available by examination bodies and testing agencies.