File:Agricultural economics-US trade graph.png
The study of agricultural economics
Main topic:Agricultural economics
The study of resource allocation under scarcity is economics. Agronomics, or agricultural economics is the application of economic methods to optimizing the decisions made by agricultural producers. These efforts have grown to prominence around the turn of the 20th century.
In the end of 20th century, agricultural economics had become broad based. The integrated multidisciplinary approach covering farm management, finance, marketing, environment, resource management, policy making, community and rural development, international agri-trade, food safety and nutrition, addresses many of the problems and stumbling blocks in agricultural production.
Agricultural farming and marketing of produce has become a basis for evolving many field models like the cobweb model or cobweb theory, hedonic regression model, hedonic pricing model, new technology diffusion models, multi-factor productivity measurement, and the random coefficient regression Models. The cobweb model or cobweb theory explains how a time lag between supply and demand decisions causes periodic price fluctuations in livestock and farm produce markets.
Related pictures & information
|Description||US trade 1991-2005|
|Source||Author: Chart created by Tom Cool|
|Permission||This original file was released into public domain. This modified file is also released under the above terms by the User:Mahmood.|
Click on a date/time to view the file as it appeared at that time.
|current||18:18, 22 November 2012||135 × 135 (10 KB)||Mahmood|
- You cannot overwrite this file.
- Edit this file using an external application (See the setup instructions for more information)
Thank you for visiting Wiki Farming!
Our Google plus page