WAEC Agricultural Science questions: Agricultural economics and extension

19 questions with answers and explanations. Tap an option to check yourself.

1. Question 1· Agricultural economics and extension· WAEC

   A farm inventory is

   • Aa sales receipt
   • Ba daily diary
   • Ca list of all the farm's assets
   • Da loan application

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   Explanation and discussion

2. Question 2· Agricultural economics and extension· WAEC

   A farmer sells 20 bags of maize at ₦25,000 each. His total costs are ₦350,000. Find his profit.

   • A₦850,000
   • B₦500,000
   • C₦150,000
   • D₦25,000

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   Explanation and discussion

3. Question 3· Agricultural economics and extension· WAEC

   A record of farm income and expenses is

   • Aa farm diary of weather
   • Ba farm account
   • Can inventory of tools only
   • Da breeding record

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   Explanation and discussion

4. Question 4· Agricultural economics and extension· WAEC

   Demand for farm produce rises when

   • Aprices rise sharply
   • Bconsumers' incomes increase
   • Cpopulation falls
   • Dsupply is high

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   Explanation and discussion

5. Question 5· Agricultural economics and extension· WAEC

   A record of all money received from sales and spent on inputs is

   • Aan inventory
   • Ba farm account
   • Ca diary of farm operations
   • Da breeding record

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   Explanation and discussion

6. Question 6· Agricultural economics and extension· WAEC

   Land, labour, capital and management are the

   • Afactors of production
   • Bfarm records
   • Ctypes of farming
   • Dfarm tools

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   Explanation and discussion

7. Question 7· Agricultural economics and extension· WAEC

   The former Nigerian Cocoa Marketing Board mainly

   • Abought cocoa from farmers and sold it abroad
   • Bgrew cocoa on its own farms
   • Cimported cocoa
   • Dmade chocolate

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   Explanation and discussion

8. Question 8· Agricultural economics and extension· WAEC

   Land fragmentation in Nigeria results mainly from

   • Agovernment policy
   • Binheritance customs that divide land among children
   • Clarge plantations
   • Dmechanisation

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   Explanation and discussion

9. Question 9· Agricultural economics and extension· WAEC

   A farmers' cooperative society helps its members by

   • Areducing members' income
   • Braising input prices
   • Cbuying inputs in bulk and marketing produce jointly
   • Dmaking members compete

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   Explanation and discussion

10. Question 10· Agricultural economics and extension· WAEC

    Collateral for an agricultural loan is

    • Aproperty pledged as security for repayment
    • Bthe loan itself
    • Cinterest
    • Da gift

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    Explanation and discussion

11. Question 11· Agricultural economics and extension· WAEC

    A cooperative society helps farmers by

    • Afixing their wages
    • Btaking their land
    • Cproviding loans and inputs at fair prices
    • Draising their taxes

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    Explanation and discussion

12. Question 12· Agricultural economics and extension· WAEC

    A farm's gross margin is

    • Aits profit after tax
    • Btotal revenue minus all costs
    • Cits fixed costs
    • Dtotal revenue minus variable costs

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    Explanation and discussion

13. Question 13· Agricultural economics and extension· WAEC

    Profit on a farm is

    • Atotal revenue minus total cost
    • Btotal cost only
    • Ctotal revenue only
    • Dfixed cost minus variable cost

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    Explanation and discussion

14. Question 14· Agricultural economics and extension· WAEC

    A farmer's fixed costs are ₦200,000 and variable costs ₦300,000. He sells produce for ₦650,000. His profit is

    • A₦650,000
    • B₦350,000
    • C₦450,000
    • D₦150,000

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    Explanation and discussion

15. Question 15· Agricultural economics and extension· WAEC

    Farm buildings and tractors are examples of

    • Acapital
    • Bland
    • Clabour
    • Dmanagement

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    Explanation and discussion

16. Question 16· Agricultural economics and extension· WAEC

    Prices of farm produce are usually lowest

    • Abefore harvest
    • Bin the planting season
    • Cduring scarcity
    • Dat harvest time when supply is high

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    Explanation and discussion

17. Question 17· Agricultural economics and extension· WAEC

    Money borrowed by a farmer from a bank to buy fertiliser is

    • Aa subsidy
    • Bagricultural credit
    • Ca grant
    • Da tax

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    Explanation and discussion

18. Question 18· Agricultural economics and extension· WAEC

    Agricultural credit means

    • Ataxes on farmers
    • Bgifts to farmers
    • Cloans given to farmers for farm business
    • Dsubsidies only

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19. Question 19· Agricultural economics and extension· WAEC

    A marketing board in agriculture was set up mainly to

    • Abuy produce from farmers and stabilise prices
    • Bplant crops for farmers
    • Ctrain veterinary doctors
    • Dbuild irrigation dams

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    Explanation and discussion