AME1015 - Fin Management and Production Economics

Purpose: Production Factors (Land, Labour, Capital and Entrepreneurship); Production Economies theory (explains total product, marginal product, average product, stages of production, variable costs, fixed costs, total costs and profit and the production Function); Optimization of Input and Output Factors (deals with necessary condition, sufficient condition, profit maximization, optimum determination, use of total value product and total cost, and optimum amount of input); Financial Management (tasks of financial management, factors affecting agricultural finance, financial records, inventories, financial statements, balance sheets, income statement and cash flow statements).