Answer to Question #250205 in Microeconomics for Alen renel onis

Question

Assumes that you are from any one of the following how can you utilize the limited reasourse a family farm

Answer 1

Assuming one has to utilize limited resources in a family farm, the preservation of soil fertility of the land and efficient water supply are the key aspects that should be taken into consideration in order to yield maximum returns from the farm. In case the input of labor is limited to only family members, the available workforce has to work for extra time in order to maximize returns. Adequate and efficient water supply to the farm is also important in the effort to yield maximum output.

Specialization and division of labor among family members will make the production process in the farm more effective and faster. More output will be acquired using the limited resources in the farm.