Farm Business Management Contest
|This contest is designed to test the contestant's understanding of basic economic principles essential in the successful management of a farm business.
Emphasis will be placed on analytical procedures rather than recall of specific facts. Among other things, contestants will be expected to know how to keep and analyze farm records, evaluate farm leasing arrangements, and determine proper use of credit. Contestants should be familiar with the use of economic principles, budgeting and logic to determine the proper combination of resources (capital, labor, land, etc.) for enterprises (dairy, swine, corn, etc.), and the economic relationships between resources and enterprises. Some understanding of agricultural programs and their effects on individual farmers will also be expected.
- NO CELL PHONES ALLOWED!
- Each team can have four members.
- The team score will be the total of the scores of the top three of the four team members.
- Each team member must write an individual paper.
- Each individual must work independently of other members of the team.
- No books or other sources of information shall be used during the contest.
- Failure to comply with the above provisions will subject the team to disqualification.
- Calculators may be used.
- The maximum individual score is 100 points; the maximum team score is 300 points.
- Each question is 2 points.
Each school may enter two teams. Please review the state FFA Career Development Events.
Contestants will assemble in the Commons.