(a) What is depreciation in agricultural production?
(b) Distinguish between the following pairs of terms as used in agricultural production:
(i) farm records and farm accounts;
(ii) credit and subsidy;
(iii) assets and liabilities.
(c) State five problems of agricultural extension in West Africa.
(d) Enumerate five factors that affect the supply of cassava in West Africa
(b) Distinguish between the following pairs of terms as used in agricultural production:
(i) farm records and farm accounts;
(ii) credit and subsidy;
(iii) assets and liabilities.
(c) State five problems of agricultural extension in West Africa.
(d) Enumerate five factors that affect the supply of cassava in West Africa
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Correct Answer: Option
Explanation:
(a) Meaning of Depreciation in Agricultural Production
Depreciation refers to the loss or reduction in the value or worth of an asset as the asset is being used over time.
OR
a loss in value of asset as a result of wear and tear or obsolescence over a period of time.
(b)Differences between the following Pairs of Terms as used in Agricultural Production
(i) Farm Records and Farm Accounts
Farm records are information or facts about the activities that take place on the farm while/but/ whereas/ on the other hand;
Farm accounts are statements of financial transactions on the farm.
(ii) Credit and Subsidy
Agricultural credit is a repayable loan given to a farmer to carry out farm operations while Agricultural subsidy refers to a non-refundable aid to farmers to reduce cost of production.
(iii) Assets and Liabilities
Farm assets refer to anything of value in the possession of a farm business while/but/ whereas/ on the other hand; Liabilities represents an amount that is owed to others, whether it is payable in cash, goods or services.
(c) Problems of Agricultural Extension in West Africa
Inadequate transport facilities
Poor remuneration leading to inadequate motivation
Corruption among extension personnel
Inadequate Subject Matter Specialist (SMS)
Ignorance of the tradition and customs of local communities
Inadequate extension workers
Poor communication facilities
Inadequate farm inputs
Illiteracy of the farmers
Language barrier
Conservatism of farmers
Poor monitoring of extension service agents
Inadequate credit facilities to the farmers
(d) Factors that affect the Supply of Cassava in West Africa
Price of cassava
The price of related goods
Changes in the cost of production
Technological advancement
Changes in the number of producers
Changes in climate and weather
Government policy/import restriction
Wars/Conflicts
Natural disaster e.g. wild fire, flood etc.
Subsidies
Aims/Objectives of the farmer
(a) Meaning of Depreciation in Agricultural Production
Depreciation refers to the loss or reduction in the value or worth of an asset as the asset is being used over time.
OR
a loss in value of asset as a result of wear and tear or obsolescence over a period of time.
(b)Differences between the following Pairs of Terms as used in Agricultural Production
(i) Farm Records and Farm Accounts
Farm records are information or facts about the activities that take place on the farm while/but/ whereas/ on the other hand;
Farm accounts are statements of financial transactions on the farm.
(ii) Credit and Subsidy
Agricultural credit is a repayable loan given to a farmer to carry out farm operations while Agricultural subsidy refers to a non-refundable aid to farmers to reduce cost of production.
(iii) Assets and Liabilities
Farm assets refer to anything of value in the possession of a farm business while/but/ whereas/ on the other hand; Liabilities represents an amount that is owed to others, whether it is payable in cash, goods or services.
(c) Problems of Agricultural Extension in West Africa
Inadequate transport facilities
Poor remuneration leading to inadequate motivation
Corruption among extension personnel
Inadequate Subject Matter Specialist (SMS)
Ignorance of the tradition and customs of local communities
Inadequate extension workers
Poor communication facilities
Inadequate farm inputs
Illiteracy of the farmers
Language barrier
Conservatism of farmers
Poor monitoring of extension service agents
Inadequate credit facilities to the farmers
(d) Factors that affect the Supply of Cassava in West Africa
Price of cassava
The price of related goods
Changes in the cost of production
Technological advancement
Changes in the number of producers
Changes in climate and weather
Government policy/import restriction
Wars/Conflicts
Natural disaster e.g. wild fire, flood etc.
Subsidies
Aims/Objectives of the farmer