AGEC 325 (100% Verified)

What has happened to farm land values recently? correct answers - inflationary effect has been significant - real value hasn't changed much, only a slight upward (increasing) trend What makes land unique? correct answers - permanent resource that doesn't depreciate (unless you don't take care...

What is an enterprise budget? correct answers An enterprise budget provides an estimate of the potential revenue, expenses, and profit for a single enterprise. Each crop or type of livestock that can be grown is an enterprise. What is the purpose of an enterprise budget? correct answers The prima...

Changes in Structure Caused by: correct answers Labor-saving technology Greater off-farm employment opportunities Desire of farm operators for higher income High fixed costs of some technology Structure of Farms and Ranches correct answers Number of farms in US decreasing Average farm size in...

Improved data collection technology such as satellite or drone-based photography will be most helpful to farm managers for: correct answers prescribing fertility and pest control practices for smaller land units Standardization of farm financial ratios and accounting practices will help farm mana...

estimating machinery costs correct answers List the basic data Calculate ownership costs Calculate operating costs Calculate total cost per hour Calculate cost per acre factors to consider in machinery selection correct answers Machinery size Timeliness Machinery size correct answers Fiel...

In whole farm planning it is assumed that when ___________ is maximized, total profit is also maximized. correct answers total gross margin The purpose of completing a whole farm budget is: correct answers to estimate the net income from all enterprises combined Sensitivity analysis looks at t...