Which type of loan should a farmer obtain to start an oil palm plantation?

A. short-term loan

B. long-term loan

C. non-institutional loan

D. operational loan

The most important factor which determines the demand for cowpea by consumers is the

A. income of consumers

B. price of cowpea

C. supply of cowpea

D. taste of consumers

Land in agricultural business is a durable asset because

A. its value is realized over several years

B. it is more valuable than labour

C. it can be expanded by rectamation

D. it is a free gift of nature

A cowpea farmer obtained a loan of D50,000.oo from his co-operative society at an interest rate of 5%. Calculate the interest to be paid on the borrowed capital after one year?

A. D2,500.00

B. D5,000.00

C. D7,500.00

D. D10,000.00

The main function of an agricultural extension agent is to

A. assist farmers to export their produce

B. provide managerial services to farmers

C. educate farmers on innovations in agriculture

D. act as a link between farmers and middlemen