money image by cherie from Fotolia.com. Economic models help managers and economists analyze the economic decision-making process. Each model relies on a number of assumptions, or basic factors that are present in all decision situations.he fundamental basis of economic decision making is individuals' or organizations' desire to maximize benefits while minimizing costs. This balancing act is referred to as maximizing value, and it is a skill that takes practice to master.
Most cattle producers are familiar with the term feed conversion.. Advertisement. Most cattle producers are familiar with the term feed conversion.. It is simply the amount of feed an animal consumes as compared to the amount of body weight gained, expressed as a ratio. Feed conversion ratios in the neighborhood of 6:1 (6 lbs of feed per pound of gain) are common in modern beef cattle feedlots. Stocker cattle producers are also interested in feed conversion, but the calculation is a little different.
Chicken meat production consumes energy in a 4:1 ratio to protein output; beef cattle production requires an energy input to protein output ratio of 54:1. (Lamb meat production is nearly as inefficient at 50:1, according to the ecologist's analysis of U.S. Department of Agriculture statistics.ther ratios range from 13:1 for turkey meat and 14:1 for milk protein to 17:1 for pork and 26:1 for eggs.). Animal agriculture is a leading consumer of water resources in the United States, Pimentel noted. Grain-fed beef production takes 100,000 liters of water for every kilogram of food.