Understanding Production Costs and Returns

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The basic building block of economics and management information for the farm is cost of the production. Knowing your unit cost of production will guide you in answering the three fundamental business management questions. What to Produce? How to produce it? How much to produce? This video explains why knowing your cost of production is essential for any farm business. (Duration: 5:22 minutes)

Created By: Government of Alberta, Alberta Agriculture and Rural Development

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This document is maintained by Amrit Matharu.
This information published to the web on June 14, 2013.
Last Reviewed/Revised on October 29, 2015.