Search results
Results From The WOW.Com Content Network
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 .
A 2020 U.S. survey found that typical indoor agriculture crops, per pound of crop yield, consumed between US$0.47 (for leafy greens) and US$1.38 (for microgreens) in inputs (especially seed, growing media, and nutrients) -- though tomatoes were reported at US$0.06 inputs per pound. Labor costs for container farms were reported at US$2.35 per pound.
According to Kaldor, “The purpose of a theory of economic growth is to show the nature of non-economic variables which ultimately determine the rate at which the general level of production of the economy is growing, and thereby contribute to an understanding of the question of why some societies grow so much faster than others.” [2] [1]
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.
The seed ratio is another way of calculating yields. Cereal yield in tons per hectare and kilograms of nitrogenous fertilizer applied per hectare of cropland. Innovations, such as the use of fertilizer , the creation of better farming tools, and new methods of farming and improved crop varieties have improved yields.
In addition, organic foods currently enjoy a price premium over conventionally produced foods, meaning that organic farmers can often get more for their yield. The price premium for organic food is an important factor in the economic viability of organic farming.
The economic rationale behind this idea of labor reallocation is that of faster economic development. The essence of labor reallocation lies in Engel's Law, which states that the proportion of income being spent on food decreases with increase in the income-level of an individual, even if there is a rise in the actual expenditure on food. For ...
Boserup is known for her theory of agricultural intensification, also known as Boserup's theory, which posits that population change drives the intensity of agricultural production. Her position countered the Malthusian theory that agricultural methods determine population via limits on food supply .