csec

Question 1

Suggest TWO criteria required to obtain a loan.

Answer 1

farm records
collateral

Question 2

discuss the role
and importance of
agriculture in
national, regional
and international
economies;

Answer 2

National:Agriculture supplies raw materials for industries (e.g., sugar for factories).
Regional:Agriculture helps to reduce food imports by producing local crops.
International: Agriculture allows countries to export products like bananas, cocoa, and coffee to earn foreign exchange.

Question 3

define the term soil fertility

Answer 3

soil fertility is the ability of soil to supply the nutrients and minerals needed for healthy plant growth

Question 4

what are the factors of production?

Answer 4

land, labour, capital

Question 5

what is the meaning of gross farm income

Answer 5

gross from income is the total amount of income earned from farm activities before any expenses are taken out.

Question 6

meaning of net farm income

Answer 6

net farm income is the money left after all farm expenses are subtracted from the gross farm income

Question 7

define gross margin

Answer 7

gross margin is the difference between total income and variable costs

Question 8

define net profit

Answer 8

Net profit is what remains after all expenses have been deducted from total income.

Question 9

One benefit of having different market segments for agricultural products

Answer 9

It allows farmers to target specific customer needs, which intern can increase sales and profits.