Title: Explain the benefits and liabilities of owning an agricultural business.
Course: Agricultural Production Technology (18301-I) > Section: Developing Business Aspects of an Agricultural Enterprise

Explanation should include an assessment of

- the benefits
  - personal satisfaction
  - creativity
  - financial freedom
  - job security
- the liabilities
  - operating expenses
  - debt
  - various risks
  - unforeseen conditions
- how to mitigate risk
  - insurance
  - diversification
  - liquidity.

Process/Skill Questions:

- What are the benefits of owning an agricultural business?
- What are the disadvantages of owning a business?
- Why should one research the market carefully before buying or opening an agricultural business?
- What strengths, weaknesses, opportunities, and threats (SWOT) come with owning an agricultural business?