CHAPTER V 



THE ORGANIZATION OF THE FARM. THE SELEC- 

 TION OF LAND, LIVE STOCK AND EQUIPMENT; THE CHOICE 

 OF CROPS; THE PLACE OF ANIMAL HUSBANDRY IN THE 

 ECONOMY OF THE FARM. 



Section I. The selection of land and capital- 

 goods, or, the grades of the factors of production 

 which should be brought together. With the 

 three factors of production to be organized in 

 such a manner as will enable him to win the 

 largest net profits, the first problem before the 

 farmer is the selection of land, live stock and 

 equipment. It has been seen that all the factors 

 vary in productivity, and the question arises as 

 to which grade of land a given farmer should 

 select for his agricultural operations, and which 

 grade of capital-goods he should employ. 



The proportions in which the factors of pro- 

 duction should be brought together will be dis- 

 cussed in the next chapter. There we shall have 

 to do with the quantities of labor and capital- 

 goods which should be expended upon a given 

 area of land, the quantity of labor which should 

 be associated with a given quantity of capital- 

 goods, and the quantity of land, labor and capital- 



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