The objective of this investigation was to carry out an economic evaluation of goat production system in Montes de Oca Parish, State of Lara, Venezuela. Research methodology used in this study was participatory action and agricultural participatory research. Data was collected from October 2008 to February 2009. Sample size was estimated by finites population formula. The work was made with 35 production units. The production costs were calculated using the input method and the profits were explained by multiple lineal regression. Goat kids, manure, milk and milk products were marketed. This activity creates aggregated profits of -$3.35 USD taking into account the opportunity cost (OC) of the families labor (FML). Profit is explained principally by income from milk sales (R2 = 0.653) and the OC of the FML (R2 = 0.149). The system has the capacity to create economic and social profits, such as a creation of employment and production of food stuffs for personal consumption; contribution with 95% of the OC of the FML; allowing the use of FML in other economic activities which complement the family income; and contribute to liquidity of families.