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.
Ask the following questions when determining what type of feed your cattle needs: What type of cattle do you own? Show cattle, dairy and beef cattle all have different nutritional needs. How old are the cattle/calves? Adult cattle have different nutritional needs than calves. What are the cattleâs overall feeding program? Pasture cattle (i.e., cattle that graze on pasture as a regular part of their feeding) will need mineral blocks or loose minerals to ensure complete nutrition. Are the cattle on pasture or dry lots? Pelletized feed works best for dry lots, while block feed is better for pasture.