Lesson 1
Lesson 2
Lesson 3
Lesson 4
Lesson 5
Case Studies Index

While the various objectives identified by each member are valid, notice the centrality of the concept of profit in each viewpoint, especially those that desire their farm to be a firm. For example, firms need market share so we can eventually earn profits; they need to satisfy employees or customers so that they can stay in business to make a profit.  In other words, unless they are a charity or government receiving revenues from other sources, they will go out of business eventually if their revenues remain below costs. The profit model’s objective is to maximize economic profits.

 

outcomes
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