Hostname: page-component-586b7cd67f-t8hqh Total loading time: 0 Render date: 2024-11-26T05:24:42.978Z Has data issue: false hasContentIssue false
  • English
  • Français

Establishing Linkages Between Economic Theory and Enterprise Budgeting for Teaching and Extension Programs

Published online by Cambridge University Press:  28 April 2015

G. L. Bradford  and
D. L. Debertin
G. L. Bradford
Affiliation:
University of Kentucky
D. L. Debertin
Affiliation:
University of Kentucky
Get access Rights & Permissions [Opens in a new window]

Abstract

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.

Keywords

enterprise budgetingeconomic theory linkages
Type
Notes
Information
Journal of Agricultural and Applied Economics , Volume 17 , Issue 2 , December 1985 , pp. 221 - 230
Copyright
Copyright © Southern Agricultural Economics Association 1985

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Bishop, C. E. and Toussaint, W. D.. Agricultural Economics Analysis. New York: John Wiley & Sons, Inc., 1958.Google Scholar
Calkins, Peter H. and DiPietre, Dennis D.. Farm Business Management. New York: Macmillan Publishing Co., Inc., 1983.Google Scholar
Carlson, Sune. A Study on the Pure Theory of Production. New York: Kelley & Millman, Inc., 1956.Google Scholar
Cramer, Gail L. and Jensen, Clarence W.. Agricultural Economics & Agribusiness. 2nd Ed., New York: John Wiley & Sons, Inc., 1982.Google Scholar
Doll, J. P. “On Exact Multicollinearity and Estimation of the Cobb-Douglas Production Function.” Amer. J. Agr. Econ. 56(1974):556–563.CrossRefGoogle Scholar
Doll, John P. and Orazem, Frank. Production Economics, Theory With Applications. 2nd Ed. Columbus, Ohio: Grid Publishing, Inc., 1984.Google Scholar
Forster, D. Lynn and Erven, Bernard L.. Foundations for Managing the Farm Business. Columbus, Ohio: Grid Publishing Inc., 1981.Google Scholar
Harsh, Stephen B., Connor, Larry J., and Schwab, Gerald D.. Managing the Farm Business. Englewood Cliffs, New Jersey: Prentice-Hall Inc., 1981.Google Scholar
Hinson, Roger. Enterprise Budgets for Small Louisiana Farmers. Louisiana State University, D. A. E. Research Report No. 601; August, 1982.Google Scholar
Hunt, Donnell. Farm Power and Machinery Management. Ames: Iowa State University Press, 1983.Google Scholar
Kay, Ronald D.Farm Management: Planning Control and Implementation. New York: McGraw-Hill Book Company, 1981.Google Scholar
Madden, J. Patrick and Partenheimer, Earl J.. “Evidence of Economies and Diseconomies of Farm Size”, Size, Structure, and Future of Farms, eds. Ball, A. Gordon and Heady, Earl O., Ames: Iowa State University Press, 1972.Google Scholar
Osburn, Donald D. and Schneeberger, Kenneth C.. Modern Agriculture Management. 2ndEd., Reston, Virginia: Reston Publishing Co., Inc., 1983.Google Scholar
Perrin, R. K. “Asset Replacement Principles.” Amer. J. Agr. Econ. 54(1972):60–67.CrossRefGoogle Scholar
Watts, Myles J. and Helmers, Glenn A.. “Inflation and Machinery Cost Budgeting.” So. J. Agr. Econ. 11, 2(1979):83–88.Google Scholar