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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 .
Agricultural productivity is measured as the ratio of agricultural outputs to inputs. [1] While individual products are usually measured by weight, which is known as crop yield, varying products make measuring overall agricultural output difficult. Therefore, agricultural productivity is usually measured as the market value of the final output ...
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 ...
Agricultural land – denotes the land suitable for agricultural production, both crops and livestock. It is one of the main resources in agriculture. Labor (economics) – measure of the work done by human beings. Water – chemical substance with the chemical formula H2O.
In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services.The utilised amounts of the various inputs determine the quantity of output according to the relationship called the production function.
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 ...
The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining. [1] [2] [3] The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries.
Governments can use tools like rural development practices, agricultural extension, economic protections, agricultural subsidies or price controls to change the dynamics of agricultural production, or improve the consumer impacts of the production. Agricultural policy has wide reaching primary and secondary effects.