This article throws light upon the top four economic principles applied to farm management. The economic principles are: 1. The Law of Diminishing Marginal Returns 2. The Law of Equi-Marginal Returns 3. Law of Opportunity Cost 4. Law of Comparative Advantage. Economic Principle # 1. The Law of Diminishing Marginal Returns: Since agriculture is a productive activity we should be [...]
After reading this article you will learn about:- 1. Analysis of Agricultural Project 2. Types of Agricultural Projects 3. Aspects 4. Economic Analysis 5. Financial Analysis 6. Costs 7. Benefits. Analysis of Agricultural Project: The analysis rests on: (a) Technicians, like agronomists, soil scientists, civil engineers etc. use information and their judgment about the organisation and its administration. The economic [...]
This article throws light upon the four main support services provided to farmers. The support services are: 1. Agricultural Research 2. Agricultural Extension 3. Agricultural Credit 4. Agricultural Marketing. Support Service # 1. Agricultural Research: Agricultural research is the cornerstone of agricultural development. The results have been spectacular in terms of increase in output per hectare but also reduced use [...]