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A plantation economy is an economy based on agricultural mass production, usually of a few commodity crops, grown on large farms worked by laborers or slaves. The properties are called plantations . Plantation economies rely on the export of cash crops as a source of income.
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 ...
Sugar Prices 1962-2022 USD per pound. The sugar industry subsumes the production, processing and marketing of sugars (mostly sucrose and fructose).Globally, about 80% of sugar is extracted from sugar cane, grown predominantly in the tropics, and 20% from sugar beet, grown mostly in temperate climate in North America or Europe.
Data related to sugar production during the present decade is given in the table. As indicated in this table the total extent under sugarcane with was around 16,000 hectares during 2003–2005 has decreased subsequently to 8,600 ha (21,000 acres). The reduction in the extent under sugarcane may be attributed to increasing production cost.
In economics, the cost-of-production theory of value is the theory that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can comprise any of the factors of production (including labor, capital, or land) and taxation .
In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms optimize their production process by minimizing cost consistent with each possible level of production, and the result is a cost curve.
the private or enterprise production price which forms the starting-point of the analysis in the first chapter. This price equals the cost-price and normal profit on production capital invested which applies to the new output of a specific enterprise when this output is sold by the enterprise (the "individual production price" [33]). The rate ...
The Common Agricultural Policy, published by E.U., uses government subsidies to encourage food production and farming industrialization in its early stage. [citation needed] In some areas, food production boomed so much that enormous food waste became a new problem. With food waste, the market was thrown into imbalance.