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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
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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

Information

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

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