Document Type
Thesis - Open Access
Award Date
1968
Degree Name
Master of Science (MS)
Department / School
Economics
Abstract
An economic problem confronting farmers of the South James Area in South Dakota involves the allocation and use of resources in the best combination to earn specified levels of income. How to develop guidelines for estimating the combination of resources needed to earn a specified level of income with a given set of prices and levels of high and average mechanization is the problem with which this study is concerned. Its purpose is to determine combinations of agricultural resources and enterprises required to obtain specified levels of farm income in the South James Area of South Dakota. Many farmers are trying to increase their income by adding additional land to their unit. They are bidding up land values and reducing the number of farm units. The reduction in the number of farms, the increase in the number of acres per farm, and the change in the value per acre of land from 1954 to 1964 in twelve co-utilities of the South James .Area of South Dakota is shown in Table 1. Farmers who desire to raise their income level must decide on expanding or improving their farming enterprises or decide on non-farm employment. The farmer and his family who decide to employ their labor and other resources in agriculture need to know the amounts and kinds of resources required to enable them to earn specified incomes. The objectives of this study were: 1.To determine the minimum resource requirements needed for specified income returns to operator labor and management with a given set of prices at high and average mechanization levels and efficiency of resource use. 2. To determine the best combination of farm enterprises utilizing resource requirements for specified income levels to operator labor and management. 3. To determine the effect that restricting lives tock enterprises has on the amounts and kinds of resources needed to attain specified levels of income to operator labor and management.
Library of Congress Subject Headings
Farm income -- South Dakota
Format
application/pdf
Publisher
South Dakota State University
Recommended Citation
Maher, John N., "Guidelines for Estimating Resources Needed to Earn a Specified Level of Income, South James Area, South Dakota" (1968). Electronic Theses and Dissertations. 3463.
https://openprairie.sdstate.edu/etd/3463