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Characteristics of management:
- It is neither variable nor fixed
- The cost of management is determined by its quality
- It involves the use of mental energy in production.
- Its quality influences output
- Its reward is profit.
Importance of Entrepreneur or Management in Agricultural Production
- It coordinates and controls other factors of production
- It takes decisions about the farm business.
- It manages the farm business in order to make a profit.
- It determines the level of pay or wages.
- Management influences the organization.
EVALUATION:
State four importance of each of the following in agricultural production
(a) Water (b) Entrepreneur
WEEKEND ASSIGNMENT
- Explain each of the following:
- Land (b) labour     (c) capital
- Mention four importance of land in agricultural production.
