Answer to Question #311296 in Microeconomics for Theo

Question

1With an aid of agricultural project, critically discuss the two approaches to the

working definition of project.

Answer 1

The agricultural project refers to particular work specifically on agriculture such as planting, seedlings plowing, and care of plants. The projects are incorporated with (SMART), specific, measurable, achievable, realistic, time frame) objectives with the sustainable financial mechanism. The two approaches include;

1. The project cycle; The project approach gives implications on the targeted location, availability of natural and acquired resources, the period within the drawn work plan. The purpose of this approach is to outlay the sustainability of the project right from its initiation until its completion.

2. Commodity specialized approach; This approach is based on need assessment, to actualize what kind of crop or product will thrive or rather yield higher production in a given location. It incorporates functions of productions like prices of fertilizers, labor force, and availability of the market.