About Lesson
- Practical science:
- It is the practical use of physical and biological sciences to give a farm situation.
- A farmer has to select a method which is more practicable and economical to his situation taking into consideration the volume of work and financial implications.
- Profitability oriented:
- A breeder or an agronomist is always concerned with maximum yield per unit area irrespective of profitability of input use.
- Whereas, an economist is dealing with costs of production and decides output level of production to optimum level by taking financial implication and storage facilities.
- In the decision-making process, profitability is thus the major criterion of selection /adoption of an enterprise.
- Integrating science:
- It is an integrating science in a sense that the facts and findings of other sciences are coordinated for the solution of various problems of individual farmers with a view to achieving certain desired goals.
- Broader field:
- It is thus a much broader field, because it has to gather knowledge from many other sciences for making its own decisions.
- Therefore, a farm management specialist has to be thus a “Jack of many trades and master of one.”
- Micro approach:
- It treats every farm unit unique in available resources, problems and potentialities.
- Hence, each farm unit has to be, therefore, studied guided or planned individually.
- Farm unit as a whole:
- All farming system components such as crops, livestock, fruits and forest are taken as a whole for economic analysis.
- In farm management analysis a far as a whole is considered to be the unit for making decisions because the objective is to maximize the returns from the whole farm instead of only improving the returns from particular enterprise or a practice.
- It is much more concerned with the total crop productivity instead of one crop productivity.
