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Concepts and Definitions

In: The Economics of European Agriculture

Author

Listed:
  • Bernadette Andreosso-O’Callaghan

    (University of Limerick)

Abstract

The field of agricultural economics is delineated by the application of economic science tools to the agricultural sector. Economics is the science of the administration of scarce resources (land, labor, capital and management), which are needed in order to produce goods and services that satisfy human wants. Agricultural economics refers to all economic activities connected with the control of living organisms, such as plants and animals. These economic activities gravitate around the production of food, and they involve many different economic actors at different production and transformation stages. The agricultural economist is interested in the process that leads ultimately to the satisfaction of human wants. This process encompasses the conditions of production, the characteristics and evolution of demand, the mechanisms prevailing on agricultural markets, government intervention and world trade conditions.

Suggested Citation

  • Bernadette Andreosso-O’Callaghan, 2003. "Concepts and Definitions," Palgrave Macmillan Books, in: The Economics of European Agriculture, chapter 1, pages 4-40, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-00117-6_2
    DOI: 10.1057/9780230001176_2
    as

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