Description
Book SynopsisThis text is designed for a one-quarter or one-semester course in introductory agricultural economics or agribusiness. It examines the structure and organization of the agricultural industry, then discusses basic micro- and macroeconomics principles as they apply to agriculture. Principles of economics are used to demonstrate to the student that theory actually makes reality more understandable.
Table of Contents1. Introduction 1
2. The Farm and Food System 21
3. Consumer Behavior and Demand 49
4. Producer Decision Making: Single-Variable Input 77
5. Producer Decision Making: Two-Variable Inputs and Enterprise Selection 101
6. Production Costs, Supply, and Price Determination 137
7. Competition and the Market 171
8. Imperfect Competition and Market Regulation 191
9. Macroeconomics 217
10. Financial Picture of Agriculture 245
11. Agricultural Price and Income Policies 277
12. Market Agricultural Commodities 311
13. Natural Resources 345
14. Rural Development 369
15. International Economics 397
16. Agriculture's Role in Economic Development 429
17. Global Food Demand and Supply 451
A List of Reference Books for the Beginning Student 479
Basic Sources of Agricultural Statistics 483
Glossary 489
Photo Credits 505
Index 507
