This textbook addresses the main economic principles required by agricultural economists involved in rural development. The principles of 'micro-economics' or 'price-theory' are of relevance to economists everywhere, but this book reinforces the message of their relevance for rural development by explaining the theory in the specific context of the agricultural and food sectors of developing countries. Hypothetical and actual empirical illustrations drawn almost exclusively from such countries distinguish this book from other economic principles texts that draw their examples almost invariably from industrialised countries, and also from books more oriented to the issue of rural development. The first half of the book deals with the underlying principles of production, supply and demand. These are essential tools for the study and management of the agricultural sector and food markets. In the second half, supply and demand are bought together into a chapter of equilibrium and exchange. This is followed by chapters on trade and the theory of economic welfare. In the final chapter it is shown that much of the material in the earlier chapters can be combined by agricultural economists into a system for analysing and comparing the effects of alternative agricultural policies. The ability of agricultural economics to provide a consistent framework for the analysis of policy problems thus enables it to make a key contribution to rural development.

This book showcases the power of economic principles to explain and predict issues and current events in the food, agricultural, agribusiness, international trade, natural resources and other sectors. The result is an agricultural economics textbook that provides students and instructors with a clear, up-to-date, and straightforward approach to learning how a market-based economy functions, and how to use simple economic principles for improved decision making. While the primary focus of the book is on microeconomic aspects, agricultural economics has expanded over recent decades to include issues of macroeconomics, international trade, agribusiness, environmental economics, natural resources, and international development. Hence, these topics are also provided with significant coverage.

3.6 Constant, decreasing, and increasing cost curves.

Welcome to the world of agriculture, where the age-old practice of cultivating the land meets modern innovation and sustainability. "Basic Principles of Agriculture" is a comprehensive guide that seeks to demystify the intricate tapestry of agricultural science, from its historical roots to its cutting-edge developments, this book is designed to be your trusted companion on the journey to understanding and mastering the art of agriculture. Throughout these pages, you will find a balanced blend of theory and practical insights, drawn from the collective wisdom of generations of farmers, scientists, and agricultural enthusiasts. We emphasize the importance of sustainable practices, environmental stewardship, and the responsible use of resources to ensure that agriculture remains a force for good in the world. Whether you are studying agriculture as an academic discipline, pursuing a career in the field, or simply seeking to enrich your understanding of the food you consume, this book is your gateway to a world of discovery and opportunity. As we embark on this educational journey together, I encourage you to approach each chapter with curiosity, an open mind, and a commitment to applying the knowledge gained in ways that benefit both humankind and our planet. Thank you for choosing this book as your companion in the exploration of the timeless and ever-evolving field of agriculture.

The First Edition Of Book Economics Of Agriculture Was Well Accepted By Students And Teachers Of Agricultural Economics Throughout The Country And Abroad. Teachers And Students Have Been Demanding Revised Edition Of The Book Since Long. Therefore, Efforts Have Been Made To Revise And Enlarge The First Edition.Topics Relating To Recent Developments In Rural Finance And Other Branches Of Agricultural Economics Have Been Included In This Second Edition. New Topics Like Agricultural Business Management (Abm) Have Been Included In The Syllabi Of B.Sc. (Agri.) As Well As In New Colleges Of Agricultural Marketing And Business Management Which Have Been Started In Maharashtra And In Other States Recently. These Colleges Offer Graduate And Postgraduate Courses In Agricultural Economics And In Agricultural Business Management. Therefore, A New Chapter, Covering The Latest Inclusions, Has Been Added In This Revised Edition. Similarly, Questions And Answers On Various Branches Of Agricultural Economics Alongwith Questions Of Asrb/Net Have Been Included In This Book.This Book Will Be Useful To The Students Of B.A., B.Sc. (Agri.), B.Sc. (Abm), B.Tech. (Agril. Engineering), M.A., M.Com., M.Sc. (Agril. Economics), M.Sc. (Abm), Ph.D. (Agril. Economics) And Ph.D. (Economics). This Book Will Also Cater To The Needs Of Those Who Are Preparing For Various Competitive Examinations. The Teachers Of Agricultural Economics/Economics/Agri-Business Management Will Also Find It Immensely Useful.

The history of economic development of countries show that there have been countless examples of institutional agencies that have played pivotal role in fulfilling certain developmental activities. Cooperation as an institution is used in various countries as instrument of economic growth. The economic performance of rural regions around the world is lagging, despite efforts by governments and local leaders to address the problem. Rural economic development should focus on the unique strengths of each area, rather than concentrating on ameliorating generic weaknesses. Rural economic development should address and harness the efficient spatial distribution of economic activity rather than attempt to replicate urban economies. Rural development aims at improving rural people's livelihoods in an equitable and sustainable manner, both socially and environmentally, through better access to assets and services, and control over productive capital that enable them to improve their livelihoods on a sustainable and equitable basis. It is certain that the valuable contributions, views and suggestions of the researchers will be of immense help to the future researchers, policy-makers, administrators and social thinkers in solving the problem of poverty, unemployment and to achieve economic development of the country as well as the state, especially in rural sector, renewing the existing employment generating programmes. The objective underlying the publication of this book is, therefore, to attract the attention of those interested in, and concerned with, the growth and progress of agricultural sector in our country.