2. 1)To provide guidance to individual farmers in using
their resources most efficiently.
2)To facilate the most efficient use of resource from
these standing point of economics.
3. AGRICULTURE PRODUCTION
ECONOMICS
Define- It is an applied branch of science in which the
principle of choice are applied to the use of resource
(Land,Labour,Capitle,Manegement) in farming
business.
4. Scope & Nature of Agriculture
Production Of Economics
1)Agriculture production economics includes analysis of
production relationship and principle of rational decision
in order to optimum use of farm resources.
2)The 1⁰ object in applied economics logic to problem that
occur in agriculture.
3)Subject matter of production economics involve three
topics like-
•Factor product relationship/ Input-output.
•Factor factor relationship/ Input-input.
•Product product relationship/Output-output.
•Return to scale.
•Size of farm. etc
5. Stages of Production
1)Total product- total product measure in physical unit
like Tons,kg,Quintal.
2)Average product-
Fomula- Average product=Total product÷ Input
use.
3)Marginal product-
MP= Change in total physical product ÷ Change in
Input.
4)Elasticity of production-
EP=% Δ Output ÷ % Δ Input.
6. LINEAR PROGRAMMING
Define- Linear progamming is a mathmatical tool to
maximize an objective function subjective to given
linear relationship restrictions.
Components of linear programming their are three
different component
1) Objective Function.
2) Linear Function.
3) Resource restriction.