This paper presents the results of an economic study offarm development in Northland. In this study, recordswere collected of 32 dairy farm case histories which hadincreased butterfat production by 105% in an average of6 years, and 18 sheep farm case histories for which woolproduction increased 116% over a 7-year period. Alsoincluded are data supplied by the Lands and Survey Departmenton the economic outcome of two land developmentblocks. In this paper, attention is focused on the cash costs andbenefits of development and their valuation by economicmethods. Nevertheless, the deficiencies of this approachare recognized, because cash costs and benefits are only onedimension of the outcome of development and the methodused for valuing this outcome makes assumptions aboutthe values of the farmer and society.
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