(a) What is elasticity of demand? [2 marks]

(b) Explain each of the following terms as used in agricultural production: (i) collateral: (ii) farm inventory record. [4 marks]

(c) State three merits and three demerits of the retailer in the marketing of agricultural produce, [6 marks]

(d) State two roles of each of the following hormones in animal reproduction: (i) testosterone; (ii) progrestrone. [4 marks]

(e) List four ways of preserving fish. [4 marks]