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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 ...
For example, a poor harvest in a major agricultural region due to adverse weather conditions, or the monopolization of the supply of farmland, could have a big effect on world market prices for farm products. [14] Marx extends his theory of agricultural rents to building rents and mine rents, and considers the effect of rent income on land prices.
The largest 1% of farms in the world are greater than 50 hectares (120 acres) and operate more than 70% of the world's farmland. [2] Nearly 40% of agricultural land is found on farms larger than 1,000 hectares (2,500 acres). [2] However, five of every six farms in the world consist of fewer than 2 hectares (4.9 acres), and take up only around ...
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
The verb to husband, meaning "to manage carefully", derives from an older meaning of husband, which in the 14th century referred to the ownership and care of a household or farm, but today means the "control or judicious use of resources", and in agriculture, the cultivation of plants or animals. [1]
Gardner, Bruce L. "Changing Economic Perspectives on the Farm Problem." Journal of Economic Literature (1992) 30#1 62–101. in JSTOR; Gardner, Bruce L. American Agriculture in the Twentieth Century: How it Flourished and What it Cost (Harvard UP, 2002). Gates, Paul W. Agriculture and the Civil War (1985) online; Gee, Wilson.
An example of the breadth and types of agriculture policy concerns can be found in the Australian Bureau of Agricultural and Resource Economics article "Agricultural Economies of Australia and New Zealand" which says that the major challenges and issues faced by their industrial agriculture industry are: marketing challenges and consumer tastes
[1] [2] Food supply chains include all actors and activities involved in post-harvest handling, storage, aggregation, transport, processing, distribution and marketing of food; [2] [1] and household consumption, which is the downstream outcome of functioning agrifood systems, subject to varying degrees of demand shocks , such as loss of income ...