Agricultural Economics' applies principles of economics to issues of agricultural production, natural resources and rural development. It mainly focuses on principles of microeconomics, which examines the actions of individuals, households and firms. Over time the discipline grew in scope to encompass issues of natural resource use and rural and international development. Today, agricultural economics is a branch of the larger field of economics and is studied in many universities.
This book is designed for student of agricultural courses at the freshman/ sophomore undergraduate level. It provides beginning agriculture students with a readable, systematic understanding of the basic concepts and issues in agricultural economics. Covering the entire scope of key economic principles and their application to the agricultural system, it traces major microeconomic, macroeconomic and global forces influencing the decisions of producers and consumers of food products and focuses on the leading problems and issues confronting this important industry today.
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