(a (i) State the law of supply in relation to agricultural production. (ii) Give an...
(a (i) State the law of supply in relation to agricultural production. (ii) Give an example of supply schedule and draw the supply curve for a named agricultural produce.
(b) State five causes of change in supply of an agricultural produce.
Explanation
(a)(i) The law of supply in agriculture states that the higher the price, the greater the quantity of produce that will offered for sale and vice versa.
(ii) Example of a supply schedule for maize
| Price (N) | Quantity of Maize Supplied |
| 10 | 80 |
| 8 | 60 |
| 6 | 40 |
| 4 | 20 |
Example of supply curve for maize
(b) Causes of change in supply of an agricultural produce are: (i) changes in price of commodity. (ii) changes in t cost of production (iii) changes in the technique of production. (iv) the effect of weather. (v) the effect of taxation ( shift in consumption by consumers. (vii) change in demand. (viii) change in distribution / marketing channels.