Work sheet
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This document contains 3 questions about agricultural production and economics. Question 1 asks about (a) objectives of production, (b) factors of production, and (c) economic functions. Question 2 asks about the meaning of inputs and outputs related to farming. Question 3 provides a table with data on fixed inputs, variable inputs, total output, marginal output, and average output of yam crop with increasing fertilizer and asks how much fertilizer should be applied to gain maximum marginal output.
Work sheet
- 1. QUESTION 1 (a) Name FOUR objectives of production (b)Explain any TWO of the factors of production (c) Name TWO of the major economic functions in tour country. (a) Group the following fixed inputs and variable input: Land, fertilizers, pesticides, seeds, tractor, fuel, building, labour, equipment, pick-up truck, fungicides and weedicides. QUESTION 2 (a) Explain the meaning of inputs in relation to farming (b)Explain the meaning of output. QUESTION 3 (a) Explain the law of diminish returns (use diagram if necessary) (6marks) Table I
- 2. Fixed input land Variable input Fertilizer 30kg/unit Total output Yam 100/ kg unit Marginal output yam 100kg/unit Average output yam 100kg/unit 1 1 5 2.5 1 2 8 4 3.00 1 3 11 6 4.00 1 4 18 7 4.6 1 5 22 4 4.6 1 6 25 3 4.3 1 7 27 2 4.2 (b) Using table I above, how many unit of fertilizer should the farmer apply in order to gain the maximum marginal output from in yam crop?