Risk Management Archives - Young Farmer Business Network

Topic: Risk Management

published - 9 November 2018
By Claire Waterman (Agriculture Victoria)

Avoid sunk cost interfering with your decisions – Economic Video Series

This short economic video on helping to avoid sunk cost follows Pete, a broadacre farmer who is wanting to have a good harvest this season, but grain prices are low. Pete believes prices might improve in the future. He decides to purchase grain storage and pays a $20,000 deposit. However …
Read More

cropping, Risk Management, sunk cost

Business Management, Resources, Risk Management

Diminishing marginal returns Youtube thumbnail

published - 9 November 2018
By Claire Waterman (Agriculture Victoria)

What are diminishing marginal returns? – Economic Video Series

This short economic video about diminishing marginal returns follows George, a broadacre wheat farmer with a dream to buy a helicopter. But that dream depends on getting the most out of this season’s crop. Watch below to see how George considers how much fertiliser to use.

This video is part of …
Read More

cropping, Diminishing marginal returns, Risk Management

Business Management, Resources, Risk Management

published - 9 November 2018
By Claire Waterman (Agriculture Victoria)

Understanding risk – Economic Video Series

This short economic video about understanding risk follows Steve, a broadacre wheat farmer with a dream to see a snow leopard. However, he needs to increase his profits significantly next season if he’s going to make it to the Himalayas. He believes it might be worthwhile taking a chance on …
Read More

cropping, Risk Management

Business Management, Resources, Risk Management