Abstract
To better understand how to increase a ginseng grower's revenue, a 4-factor revenue determination model (RDM) of raw ginseng production (R=AㆍYㆍQㆍP) was proposed. The total revenue (R) is a multiplicative function of four factors: cultivation area(A), unit yield (Y), quality grade (Q) and unit price (P). The A appears to be a pure capital factor. Y and Q are technological factors and P is social and market factor. When P is constant, the technological term (YQ) is the revenue per unit area (R/A) production efficiency per capital. The RDM appears to be a linear model between R and A with the slope [YQ]. RDM was applied to three farmers' raw ginseng production for assessment of its dependency on capital and technological factors.
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