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4 marksFarm Organisation and Planning

CSEC Agricultural Science · May/June 2008 · Paper 2 · Question 7(b)(ii)

Farmer Tiwary provides a list of farm sales and expenses.

Calculate Farmer Tiwary's gross farm income and net farm income, showing all working.

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Other parts of this question

  1. 7(a)(i)What is meant by the term, 'gross farm income'?[1 mark]
  2. 7(a)(ii)Distinguish between gross margin and net profit.[2 marks]
  3. 7(b)(i)Construct a table with the headings 'Fixed costs', 'Variable costs', and 'Farm income', and categorise the provided list of sales and expenses.[5 marks]

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