ABSTRACT

 All production systems when viewed at the most abstract level might be said to be 'transformation process, a process that transform resource into useful goods and services. The transformation process usually uses common resources such as labour, capital (for machinery and equipment, materials etc.), and space (land, buildings etc) to effect a change. The study examined the economics of yam production in Akoko North East Local Government Area (lkare Akoko) of Ondo State. It considered the socio-economic factors that affect yam production, the economic reruns from yam and the problems encountered by the yam farmers. A total of 60 respondents were selected from the farm areas lkare Akoko and interviewed using a well- structured questionnaire and oral interview. Analysis was done using simple statistical tools like tables, means, percentages, Net farm income, regression analysis and efficiency use of resources. Net farm income analysis was used to determine the economic returns of the enterprise, which was found to be profitable at a profit margin of N38, 216.Multiple regression analysis was adopted to estimate the production function for yam production enterprise. Results showed that input factors significantly affect output of yams. Conclusively, the prospect of yam production in the study area is profitable. If the recommendations made, in this study are adopted and if policy makers, extension agent, agricultural institution and yam farmers carry out activities with hard work • and vision, the economic situation of farmers stands to be more enhanced.