A farmer uses his agricultural loans for the following except

Assessment: WAEC SSCE - Agricultural Science - 1991 (Objective) Subject: Agricultural Science

Question 1 Report

A farmer uses his agricultural loans for the following except
Answer Details
A farmer uses agricultural loans to fund various aspects of their farm operations, such as purchasing seeds, hiring machinery and tools, paying labour wages, purchasing drugs for livestock, and marketing their crops. However, the option that the farmer does not use their agricultural loans for is "marketing his crops." Agricultural loans are used for upfront expenses that are necessary to produce and harvest crops. Once the crops are harvested, they are sold in the market, and the revenue generated from the sale can be used to pay back the loan and other operational costs. Therefore, the marketing of crops is typically not covered by agricultural loans.
Read lesson note on Agricultural Finance (WAEC)
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