ESTABLISHING LINKAGES BETWEEN ECONOMIC THEORY AND ENTERPRISE BUDGETING FOR TEACHING AND EXTENSION PROGRAMS

Accounting techniques of farm enterprise budgeting are rarely linked to the axioms of static production theory and to capital theory. This paper illustrates how certain linkages may be established. Particular attention is given to handling problems of scale economies, optimal output levels, replacement of durable inputs, inflation, and technological change. Estimates in an illustrative budget are linked to specific points on average cost curves. Budgeting for representative farm situations is compared to budgeting for specific situations.


Issue Date:
1985-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/29981
Published in:
Southern Journal of Agricultural Economics, Volume 17, Number 2
Page range:
221-230
Total Pages:
10




 Record created 2017-04-01, last modified 2017-08-24

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