NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF AGRICULTURAL SCIENCE
JANUARY/FEBRUARY 2018 EXAMINATION

Programme: Agricultural Extension and Management

Course Title: Agricultural Business Management

Course Code: AEM 509

Credit Unit: 3

Total Score:  70 Marks

Time Allowed: 3 Hours

INSTRUCTION:

Answer Compulsory question 1 (30 marks) and any 4 questions (10 marks each)

1. Conceptualize the term Agricultural Business 10 marks

b. Discuss the three types of sectors prevalent in an agricultural business organization. 20 marks

2. Explain the five functions of agricultural business management as postulated by Dressler and Obong. 10 marks

3. Explain the characteristics that guide farm managers in taking quality decisions targeted towards productivity.6 marks

b.List 5 basic factors that influences a manager to organize individualProprietorship, internship or cooperation 4 marks

4. Write short notes on any two headings

i. The sole partnership 5 marks

ii. Partnership in agriculture 5 marks

iii. Company farming 5 marks

iv. Agricultural business cooperating 5 marks

5. List and discuss in details the different types of enterprise selection using an agricultural product as an example.10 marks

6. Write short notes on these headings

i. Principles of diminishing returns 5 marks

ii. Opportunity cost principles 5 marks

iii.

7. Briefly discuss the legitimized business organizations that the Corporate Affairs Commission approvedin Nigeria 5 marks

b. State any five taxes payable to the States and Local Government Areas 5 marks