Ranching for Profit Economic Lingo
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- Опубликовано: 28 июн 2024
- Dallas Mount, CEO of Ranch Management Consultants, defines the common economic terms we use at our Ranching for Profit Schools.
For more information on RMC visit us at www.ranchingforprofit.com
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I learn so much just from these simple YT vids. Thanks you guys!
Just completed the school last month. I would highly recommend going if you want to learn how to finally turn a GOOD profit at ranching or farming. I would imagine the principles would apply to most businesses.
Billie thanks for your kind words, it was great having you in classroom. What was your biggest takeaway from the school?
Keep the videos coming Dallas!
I was curious as to what you all meant by overhead. I always called it variable. Overhead in my mind is necessary costs that are not directly attributed to production. For example- electricity, accountant costs, taxes, etc.
Overheads are costs that don’t change very much as the units of production in an enterprise change. Overhead costs include all land and labor costs (e.g. rent, salaries & benefits, and equipment related costs). Economists call these “fixed costs.” At the Ranching for Profit school we contend that the economists are wrong. We argue that the word “fixed” implies that these costs can’t be changed. Overheads are fixed unless you change the fundamental structure of your business.