This document provides definitions and explanations of key concepts in agricultural economics and related fields. It defines agricultural economics as the application of economic principles to agricultural production and distribution. It also defines and discusses the importance of concepts like agricultural production economics, farm management, agricultural finance, agricultural marketing, goods and services, utility, and different types of utility. The document aims to establish the foundational concepts and scope of agricultural economics as a field of study.
Agribusiness is one of the most challenging businesses today. Agribusiness has held up a large share of business niche. The volume of agribusiness is flourishing day-by-day. The term agribusiness coined first in 1957 by Goldberg and Davis. Agribusiness is not mere a business rather it is an useful tool for ensuring food security throughout the world and all sorts of basic needs as most of the basic requirements are filled up directly or indirectly with agro products. In near future agribusiness will be the central metaphor of business system for not only in our country but also to the whole world.
We may not overlook that Bangladesh is an agrarian country and still we are vastly depended upon agriculture though service sector has been advanced a lot during last few decades. Agriculture plays a pivotal role in our national economy. According to Bangladesh Economic Review (2016), the broad agriculture sector accounts for 15.33% of the Gross Domestic Product (GDP) and 45.10% of the labor force in Bangladesh.
Agribusiness is one of the most challenging businesses today. Agribusiness has held up a large share of business niche. The volume of agribusiness is flourishing day-by-day. The term agribusiness coined first in 1957 by Goldberg and Davis. Agribusiness is not mere a business rather it is an useful tool for ensuring food security throughout the world and all sorts of basic needs as most of the basic requirements are filled up directly or indirectly with agro products. In near future agribusiness will be the central metaphor of business system for not only in our country but also to the whole world.
We may not overlook that Bangladesh is an agrarian country and still we are vastly depended upon agriculture though service sector has been advanced a lot during last few decades. Agriculture plays a pivotal role in our national economy. According to Bangladesh Economic Review (2016), the broad agriculture sector accounts for 15.33% of the Gross Domestic Product (GDP) and 45.10% of the labor force in Bangladesh.
It is an introduction to agribusiness which includes the short history of evolution of the agribusiness, its importance, scope or areas of agribusiness. It also includes the distinctive features of agribusiness management.
For undergraduate agricultural students of the course ‘Ag. Econ. 6.4 Farm Management, Production, and Resource Economics (2+1)’ of Junagadh Agricultural University, Gujarat and other State Agricultural Universities in India.
For undergraduate agricultural students of the course ‘Ag. Econ. 6.4 Farm Management, Production, and Resource Economics (2+1)’ of Junagadh Agricultural University, Gujarat and other State Agricultural Universities in India.
This chapter is intended to ensure that students understand why agricultural policies are needed in both developing and developed countries. It will also shed light on the major forces that cause policy change, reasons for government involvement in agriculture and the place of agricultural policies in the future.
It is an introduction to agribusiness which includes the short history of evolution of the agribusiness, its importance, scope or areas of agribusiness. It also includes the distinctive features of agribusiness management.
For undergraduate agricultural students of the course ‘Ag. Econ. 6.4 Farm Management, Production, and Resource Economics (2+1)’ of Junagadh Agricultural University, Gujarat and other State Agricultural Universities in India.
For undergraduate agricultural students of the course ‘Ag. Econ. 6.4 Farm Management, Production, and Resource Economics (2+1)’ of Junagadh Agricultural University, Gujarat and other State Agricultural Universities in India.
This chapter is intended to ensure that students understand why agricultural policies are needed in both developing and developed countries. It will also shed light on the major forces that cause policy change, reasons for government involvement in agriculture and the place of agricultural policies in the future.
Dr. Katundu is a lecturer at the Moshi Co-operative University (MoCU). He works under the Department of Community and Rural Development specializing in the area of rural development. He holds a PhD and Master of Arts in Rural development from the Sokoine University of Agriculture (SUA), Morogoro Tanzania and a Bachelor of Arts (Hons) in Geography and Environmental Studies from the University of Dar-Es-Salaam, Tanzania. His research interests include: Agriculture and rural development, rural land reform, rural livelihoods and cooperatives, community driven development, environment and natural resource management, entrepreneurship development, impact evaluation. His PhD thesis is titled: Entrepreneurship Education and Business Start Up: Assessing Entrepreneurial Tendencies among University Graduates in Tanzania whereas; Master dissertation is titled: Evaluation of the Association of Tanzania Tobacco Traders’ Reforestation Programme: The Case of Urambo District.
THE MAJOR PROBLEMS CONFRONTING AGRICULTURAL MARKETING IN NIGERIA AND SUGGEST ...Folarin Gbolahan
Over the years, major changes came into effect to improve the agricultural marketing system. Many institutions viz., the regulated markets, marketing boards, cooperative marketing institutions, warehousing cooperatives etc., have been established primarily to help the farmers. However, various studies indicated that modernization in agricultural marketing could not keep pace with the technological adoptions in agriculture. The various marketing functions viz., grading, standardization, storage, market intelligence, etc., need to be improved to meet the present day requirements of the farmers. In improving the marketing system for food and livestock in developing countries as Nigeria, it is pertinent to understand the nature of marketing problems as it is only by doing this that workable solution can be found to them. Indeed such knowledge of marketing problems would give information as to why markets are not developing and what measures are required to develop the markets.
The Role of agriculture in economic development - in TanzaniaElisha Magolanga
Agriculture continues to provide livelihood for about 80% of the labour force despite the trends towards income diversification and urbanization (Bryceson 1999; GoT 2011). The majority of farmers are smallholders who rely on traditional methods in cultivation and livestock-keeping. The average farm size is less than two hectares per household. Since the mid-1980s, the growth in domestic food production has lagged behind the population growth which has been over 2.5% annually. Especially the per capita production of fresh vegetables, roots and tubers has declined while wheat imports have grown manifold (Haapanen, 2011).
Definition:
Production economics is the application of the principles of microeconomics in production. Based on the theory of firm, these principles explain various cost concepts, output response to inputs and the use of inputs/resources to maximize profits and/ or minimize costs. Production economics, thus provides a framework for decision making at the level of a firm for increasing efficiency and profits
*Goals of Production Economics
*BASIC PRODUCTION PROBLEMS
1. WHAT TO PRODUCE?
2. HOW TO PRODUCE?
3.HOW MUCH TO PRODUCE?
4. WHEN TO BUY AND SELL?
5. WHERE TO BUY AND SELL?
*OBJECTIVES
*SUBJECT MATTER
#AGRICULTURE PRODUCTION FUNCTION
*Thank You..!
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
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@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
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Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
2. AGRICULTURAL ECONOMICS
• Agricultural economics is an applied field of
economics in which the principles of choice are
applied in the use of scarce resources such as
land, labour, capital and management in farming
and allied activities.
• Prof. Gray has defined agricultural economics
as “The science in which the principles and
methods of economics are applied to the special
conditions of agricultural industry”
3. AGRICULTURAL ECONOMICS
• According to Prof.Hibbard, “Agricultural
economics is the study of relationships
arising from the wealth-getting and wealth-
using activity of man in agriculture”.
• Snodgras and Wallace defined
agricultural economics as “an applied
phase of social science of economics in
which attention is given to all aspects of
problems related to agriculture.”
4. AGRICULTURAL ECONOMICS
• The word, agriculture comes from the
Latin word ager, referring to the soil and
cultura, to its cultivation. Agriculture, in its
widest sense can be defined as the
cultivation and /or production of crop
plants or livestock products.
• Economics is the science that studies as
to how people choose to use scarce
productive resources to produce various
goods and to distribute these goods to
various members of society for their
consumption.
5. Importance of agricultural economics
• Akin to economics, the field of agricultural
economics finds to seek relevance
between cause and effect using the most
advanced methods viz, production
functions and programming models.
• It uses theoretical concepts of economics
to provide answers to the problems of
agriculture and agribusiness.
6. • Initially earnest efforts were made by the
economists to use the economic theory to
agricultural problems.
• Agriculture is the integral part of the world food
system, having the foundation links between
crops and animal production system.
• Agricultural economists here have to play a
major role in understanding the intricacies
involved in the foundation systems.
Importance of agricultural economics
7. • Knowledge regarding problems in
production, finance, marketing and
government policies and their impact on
production and distribution is very
essential to find out suitable solutions for
the farm problems.
Importance of agricultural economics
8. Agricultural production economics
• Agricultural production economics is a field of
specialization within the subject of Agricultural
Economics.
• Applied field of science wherein the principles of choice
are applied to the use of capital, labour, land and
management resources in the farming industry.
• It is concern with the selection of production pattern and
resource use efficiency in order to optimize the objective
function of farming community or the nation within a
frame work of limited resources.
9. Agricultural production economics
• The goals of agricultural production
economics are:
– To provide guidance to individual farmers in
using their resources most efficiently and
– To facilitate the most efficient use of
resources from the stand point of economy.
10. Agricultural production economics
• Agricultural production economics involves
analysis of production relationships and
principles of rational decisions in order to
optimize the use of farm resources on
individual farms and to rationalize the use
of inputs from nation s point of view.‟
• The primary interest is applying economic
logic to problems that occur in agriculture.
11. Agricultural production economics and its concerned
• Agricultural production economics is concerned with the
productivity of inputs.
• As a study of resource productivity, it deals with resource
use efficiency, resource combination, resource allocation,
resource management and resource administration.
• Involves topics like factor-product relationship, factor-
factor relationship and product- product relationship, size
of farm, returns to scale, credit and risk and uncertainty,
etc.
12. Agricultural production economics
• Objectives:
1.To determine and outline the conditions which give
the optimum use of capital, labour, land and
management resources in the production of crops
and livestock.
2.To determine the extent to which the existing use of
resources deviates from the optimum use.
3.To analyse the forces which condition existing
production pattern and resource use.
4.To explain means and methods in getting from the
existing use to optimum use of resources.
13. Farm management
• Farm management is a branch of
agricultural economics, which deals with
wealth earning and wealth spending
activities of farmer in relation to the
organization and operation of the
individual farm unit for securing maximum
possible net income (Bradford and
Jhonson)
14. Farm management
• Farm management is defined as the
science that deals with organization and
operation of the farm in the context of
efficiency and continuous profits
(J. N.Efferson)
• Farm management is defined as the art of
managing a farm successfully as
measured by the test of profitableness
(Gray)
15. Farm management
• Objectives
– 1. To examine production pattern and resource use on the farm.
– 2.To identify the factors responsible for the present
production pattern and resource use on the farm.
– 3. To determine the conditions of optimality in the resource
use and the production pattern on the farm.
– 4. To analyse the extent of sub optimality in the resource use
on the farm, and
– 5. To suggest ways and means in getting the present use of
resources to optimalityon the farm.
16. Agricultural finance
• Agricultural finance generally means
studying, examining and analyzing the
financial aspects pertaining to farm
business, which is the core sector of the
country.
– The financial aspects include money matters
relating to production of agricultural products
and their disposal.
17. Agricultural finance
• According to Murray (1953), “It is an economic
study of borrowing finds by farmers; of the
organization and operation of farm lending
agencies, and of society s interest in credit for‟
agriculture.”
• According to Tandon and Dhandyal (1962), “as
a branch of agricultural economics, which deals
with the provision, and management of bank
services and financial resources related to
individual farm units”
18. Macro Vs Micro finance
Agricultural finance is viewed both at macro and micro level
• Macro finance deals with the different sources of raising funds
for agriculture as a whole in the economy and it is also
concern with the lending procedures, rules, regulations,
monitoring and controlling procedures of different agricultural
institutions.
• Micro finance deals with financing the individual farm
business units and it is concern with the study as to how the
individual farmer considers various sources of credit to be
borrowed from each source and how he allocates the same
among the alternative uses within the farm.
19. Need for agricultural finance
• A need arises to provide credit to all those
farmers who require it.
• Credit enables the farmers to advantageously
use seeds, fertilizers, irrigation, machinery,
etc.
• Farmer has to invariably search for a source
which supplies adequate farm credit.
• Small and marginal farmers constitute majority
of the farming community.
20. Agricultural Marketing
• The term, agricultural marketing implies
selling of goods and services by the
farmers and ranchers. It includes various
functions;
– assembling, transportation, storing, buying,
selling, standardization, grading, processing,
sales promotion, etc.
21. • According to Thomsen, “agricultural
marketing comprises all the operations,
and the agencies conducting them
involved in the movement of farm
produced foods, raw materials and their
derivatives,
– textiles, from the farms to the final consumer
and effects of such operations on farmers,
middlemen and consumers.”
Agricultural Marketing
22. Importance of agricultural marketing
• Marketing gives signals to increase production and
thereby ensures the availability of goods, and services.
• If the marketing activity is developed, demand for goods
increases as a result, production of goods also
increases.
• Due to increased production, the demand for inputs
increases i.e., demand for input is derived from the
increase in demand for the output.
• To distribute the required input to the farm sector, the
input marketing has to be strengthened.
23. GOODS and SERVICES
Economics is concerned with the production and
distribution of goods and services
Goods: It is defined as anything that satisfies
human wants or needs
Characteristic features of goods:
1. They are tangible in nature
2. They are the material outcome of
production
24. Services would be the performance of any
duties or work for another or professional
activity. .
Characteristic Features of Services:
1. They are intangible
2. Non- Materialistic
3. Inseparable
4. Variable
5. Perishable
GOODS and SERVICES
25. Classification of Goods
• The goods are classified based on supply,
durability, consumption and transferability.
– Based on Supply: The goods are
categorized as economic goods and free
goods based on the supply criteria
26. Classification of Goods
• Free goods are those goods that exist in
lenty that can be used as much as we like
• Economic goods,are scarce and can be
had only on payment.
27. Classification of Goods
• Based on Durability:
– This classification emphasized on the nature
of the goods and their usage.
Mono Period Goods are those goods which
can be used only once in the production and
consumption process.
Poly Period Goods are those which can be
used repeatedly during the production and
consumption process over several periods.
28. Classification of Goods
• Based on Transferability:
External Material Transferable good
External material non-Transferable good
External non material transferable good
External non material Non-transferable good
Internal non material Non-Transferable good
29. UTILITY
• Utility means the power to satisfy a
human want. Any commodity or service
which can satisfy a human want is said to
have utility.
30. UTILITY
Characteristics of Utility
1.Utility is subjective:
2.Utility varies with purpose
3.Utility varies with time
4.Utility varies with ownership
5.Utility need not be synonymous with
pleasure:
6.Utility does not mean satisfaction:
31. KINDS OR TYPES OF UTILITY
• Form Utility : The Change in the form offers
greater utility to the good than in its original
form.
• Place Utility : The utility obtained by spatial
movement of the goods is termed as place
utility.
• Time utility: Storing the commodity at the times
of surplus production and make them available
during scarcity creates time utility.
• Possession Utility: The Utility obtained due to
possession or transfer of ownership of the
commodity is called possession utility