A farm business makes profit when

Assessment: WAEC SSCE - Agricultural Science - 2012 (Objective) Subject: Agricultural Science

Question 1 Report

A farm business makes profit when
Answer Details
A farm business makes a profit when the total revenue exceeds the total cost. This means that the income generated from selling the products or services is greater than the expenses incurred in producing them. In other words, the farm business is earning more money than it is spending. Profit is important for the sustainability and growth of a farm business, as it provides funds for reinvestment in the business, expansion, and future development.
Read lesson note on Principles Of Supply (WAEC)
Read lesson note on Farm Management (JAMB)
Read lesson note on Basic Economic Principles (JAMB)
Read lesson note on Factors Of Production (WAEC)
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