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The word "bumper" in this context comes from a usage that means "something unusually large", [1] which is where this term comes from. [ 2 ] Though very productive harvests often have positive implications for the producer, a bumper crop can also be a source of problems, such as when there is insufficient storage space ( barns , grain bins , etc ...
Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products. Agricultural economics began as a branch of economics that specifically dealt with land usage. It focused on maximizing the crop yield while maintaining a good soil ...
Agronomy has come to include research of plant genetics, plant physiology, meteorology, and soil science. It is the application of a combination of sciences such as biology, chemistry, economics, ecology, earth science, and genetics. Professionals of agronomy are termed agronomists.
One example is the SCOPE methodology, [21] an assessment tool that measures the management maturity and professionalism of producer organizations as to give financing organizations better insights in the risks involved in financing. Currently, agricultural finance is always considered risky and avoided by financial institutions.
Biobased economy, bioeconomy or biotechonomy is an economic activity involving the use of biotechnology and biomass in the production of goods, services, or energy. The terms are widely used by regional development agencies, national and international organizations, and biotechnology companies.
Thermoeconomics is based on the proposition that the role of energy in biological evolution should be defined and understood not through the second law of thermodynamics but in terms of such economic criteria as productivity, efficiency, and especially the costs and benefits (or profitability) of the various mechanisms for capturing and utilizing available energy to build biomass and do work.
Household production theory has been used to explain the rise in married female labor-force participation over the course of the 20th century, as the result of labor-saving appliances. [4] More recently with the rise of the DIY or Maker movement household production has become more sophisticated.
In economics and microeconomics, the economic region of production is an offshoot of the theory of production function with two variables. It is a cost-oriented theory which defines the region in which the optimal factor combination will lie. [1] It serves as a map of the region of optimal production.