Farm as a Business Unit

This topic introduces learners to the essential principles of agricultural economics and farm management. Students will explore the farm as a business, identifying required resources (land, labour, capital, entrepreneurship) and ways to improve production. A key component is farm record-keeping, including financial statements like balance sheets and profit/loss accounts. Learners will also apply the law of diminishing returns. This topic is central to the CBC's aim of fostering entrepreneurship and is critical for ECZ exam questions on farm management, budgeting, and improving agricultural profitability in the Zambian context.