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In the field of environmental economics, agricultural economists have contributed in three main areas: designing incentives to control environmental externalities (such as water pollution due to agricultural production), estimating the value of non-market benefits from natural resources and environmental amenities (such as an appealing rural landscape), and the complex interrelationship ...
The economic pillar discovers ways in which sustainable agriculture can be practiced while fostering economic growth and stability, with minimal disruptions to livelihoods. [92] All three pillars must be addressed to determine and overcome the barriers preventing sustainable agricultural practices.
The economics of organic farming, a subfield of agricultural economics, encompasses the entire process and effects of organic farming in terms of human society, including social costs, opportunity costs, unintended consequences, information asymmetries, and economies of scale.
An agrarian society, or agricultural society, is any community whose economy is based on producing and maintaining crops and farmland. Another way to define an agrarian society is by seeing how much of a nation's total production is in agriculture .
For example, in 2018, agriculture, forestry, and fishing comprised more than 15% of GDP in sub-Saharan Africa [4] but less than 1% of GDP in North America. [ 5 ] In developed countries the primary sector has become more technologically advanced, enabling for example the mechanization of farming, as compared with lower-tech methods [ a ] in ...
In agriculture, monocropping is the practice of growing a single crop year after year on the same land. Maize, soybeans, and wheat are three common crops often monocropped. Monocropping is also referred to as continuous cropping, as in "continuous corn." Monocropping allows for farmers to have consistent crops throughout their entire farm.
Agroforestry systems can provide advantages over conventional agricultural and forest production methods. They can offer increased productivity; social, economic and environmental benefits, as well as greater diversity in the ecological goods and services provided. [18] These benefits are conditional on good farm management.
A dual economy is the existence of two separate economic sectors within one country, divided by different levels of development, technology, and different patterns of demand. The concept was originally created by Julius Herman Boeke to describe the coexistence of modern and traditional economic sectors in a colonial economy.