Agricultural economics
Agricultural economics
Agricultural economics (/ˌæɡrɪˈkʌltʃərəl iːkəˈnɒmɪks/) is a branch of economics that specifically deals with the application of economic theory in optimizing the production and distribution of food and fibre.
Etymology
The term "agricultural economics" is derived from the words "agriculture" and "economics". "Agriculture" comes from the Latin agricultura, from ager (field) and cultura (cultivation). "Economics" is derived from the ancient Greek oikonomia, meaning "management of a household".
Definition
Agricultural economics is defined as the study of the allocation, distribution, and utilization of the resources used, along with the commodities produced, by farming. It is a field of economics that deals with issues related to farmers and farming communities, rural industries, and related problems of rural development.
Related Terms
- Agribusiness: The business of agricultural production, including farming, seed supply, agrichemicals, farm machinery, wholesale and distribution, processing, marketing, and retail sales.
- Agronomy: The science and technology of producing and using plants in agriculture for food, fuel, fiber, and land restoration.
- Farm Management: The decision making process in operating a farm for profit and sustainability.
- Rural Sociology: A field of sociology associated with the study of social life in non-metropolitan areas.
- Food Security: The measure of the availability of food and individuals' ability to access it.
External links
- Medical encyclopedia article on Agricultural economics
- Wikipedia's article - Agricultural economics
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