Waec Agricultural Science 2012 Past Questions and Answers

Question 46:

• WAEC 2012

An example of long-term liability of a farmer is

A. Capital
B. Interest
C. Salary
D. Taxes

Question 47:

• WAEC 2012

A farm business makes profit when

A. Total revenue ewuals total cost
B. Total cost exceeds total revenue
C. Total revenue exceeds total cost
D. Total revenue equals average cost

Question 48:

• WAEC 2012

Marginal cost of production is defined as

A. Increase in fixed cost that results from increasing production by one unit
B. Product of average variable cost and the number of units produced
C. Average physical product multiplied by the variable cost
D. Increase in total cost as output is increased by one unit

Question 49:

• WAEC 2012

The price of a fixed asset at the end of its useful life is called

A. Salvage value
B. Depriciation value
C. Annual depreciation
D. Appreciation value

Question 50:

• WAEC 2012

Which of the following criteria are used in selecting agricultural extension teaching methods? I. time available for the programme II. the number of farmers involved III. The agricultural needs of the farmers

A. I and II only
B. I and III only
C. II and III only
D. I,II and III