After reading this article you will learn about:- 1. Concept of Management 2. Functions of Management 3. Nature 4. Importance. Concept of Management: Every business requires planning for the future to find a way to successful business for which the person in the helm of affairs has to take decisions and is responsible for the consequences for his decision making [...]
This article throws light upon the seven economic principles that strengthen managerial ability of the farm manager. The principles are: 1. The Law of Diminishing Marginal return or Law of Variable Proportion 2. The Law of Equi-marginal Relationship 3. The Law of Opportunity Cost 4. The Law of Substitution 5. The Principles of Comparative Advantages 6. Principles of Combining Enterprises [...]
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 [...]