Economics, Finance and Marketing Flashcards
1
Q
Market options for livestock
A
Market options for livestock
- Direct marketing/selling
- Saleyards
- Online auction
- Forward contract
- Private selling
2
Q
Variable costs
A
Variable Cost
Something that changes according to the production
Eg) for the dairy =fertiliser, seeding, chemicals
3
Q
Fixed costs
A
Fixed Costs
Something that doesn’t change according to the enterprise
Eg) rates
4
Q
Gross margin
A
Gross margin calculations are a simplified method of showing relative returns for enterprises or activities so that direct comparisons can be made.
Gross Margin – Variable costs
