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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 ...
Agricultural expansion describes the growth of agricultural land (arable land, pastures, etc.) especially in the 20th and 21st centuries.. The agricultural expansion is often explained as a direct consequence of the global increase in food and energy requirements due to continuing population growth (both which in turn have been attributed to agricultural expansion itself [1] [2]), with an ...
Rural economics is the study of rural economies. Rural economies include both agricultural and non-agricultural industries, so rural economics has broader concerns than agricultural economics which focus more on food systems. [1] Rural development [2] and finance [3] attempt to solve larger challenges within rural economics.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Agriculture encompasses crop and livestock production, aquaculture, and forestry for food and non-food products. [1] Agriculture was a key factor in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in the cities. While humans started gathering grains at least ...
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
Francis et al. also use the definition in the same way, but thought it should be restricted to growing food. [4] Agroecology is a holistic approach that seeks to reconcile agriculture and local communities with natural processes for the common benefit of nature and livelihoods. [5]
Agronomy – science and technology of producing and using plants for food, fuel, feed, fiber, and reclamation.. Organic gardening – science and art of growing fruits, vegetables, flowers, or ornamental plants by following the essential principles of organic agriculture in soil building and conservation, pest management, and heirloom variety preservation.