Question

Write priciples of farm management.​

Answer 1

Answer:

The economic principles discussed include: - diminishing returns, substitution, opportunity cost, diversification and specialization. In unit2, you will study the meaning of cost, types of cost and implications of costs in farm management.

Answer 2

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Top six principles of farm management. The principles are:

1. The Law of Diminishing Marginal
2. Returns Law of Equimarginal Returns
3. Law of Substitution or Principle of Least Cost Combination
4. Principle of Combining Enterprise
5. The Law of Opportunity Cost
6. Law of Comparative Advantage.