1. Cost of machinery: The cost of purchasing and maintaining farm machinery can be a significant economic factor affecting farm mechanization. Farmers may need to consider the initial investment required to purchase machinery, as well as ongoing costs such as fuel, maintenance, and repairs.
Citation: Kassie, Menale, et al. "Adoption of sustainable agricultural practices: evidence from a semi-arid region of Ethiopia." Natural Resources Forum, vol. 33, no. 3, 2009, pp. 189-198.
2. Access to credit: Access to credit can also be a key economic factor affecting farm mechanization. Farmers may need to secure financing in order to purchase machinery, and the availability and terms of credit can impact their ability to invest in mechanization.
Citation: Doss, Cheryl R. "Analyzing technology adoption using microstudies: limitations, challenges, and opportunities for improvement." Agricultural Economics, vol. 37, no. 1, 2007, pp. 141-152.
3. Economies of scale: Economies of scale can influence the economic feasibility of farm mechanization. Larger farms may be able to spread the costs of machinery over a larger production area, making mechanization more cost-effective for them compared to smaller farms.
Citation: Mishra, Ashok K., and Hisham S. El-Osta. "Factors affecting the off-farm labor supply of agricultural households in the United States." Agricultural Economics, vol. 27, no. 3, 2002, pp. 265-277.
4. Government policies and subsidies: Government policies and subsidies can also play a role in influencing farm mechanization. Subsidies for purchasing machinery or incentives for adopting mechanization technologies can help reduce the financial burden on farmers and encourage investment in mechanization.
Citation: Reardon, Thomas, et al. "Rural nonfarm income in developing countries." World Development, vol. 38, no. 1, 2010, pp. 142-154.