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Full Description
The book Basic Agricultural Economics is an academic resource designed for students and scholars seeking to comprehend the fundamental theories and concepts that underpin the economy. It is suitable for novice and advanced learners alike, and serves as a valuable study aid for those preparing for competitive examinations in the agricultural social sciences discipline. The book presents economic principles in a concise and accessible manner, offering readers a clear, up-to-date, and straightforward approach to learning about market-based economies.
It covers a range of topics, including basic economic principles, consumer behavior theory, indifference curves, demand and supply, elasticity, and laws of returns and capital formation, all presented in clear and straightforward language. This book is an excellent resource for anyone seeking a comprehensive understanding of how the economy functions, from individual consumer demand to public finance at the national level.
Contents
1. Economics: Definitions, Terms, Methods of Economic Analysis, Micro and Macro Economics, Positive and Normative Analysis, and Meaning, Scope and Subject Matter
2. Nature of Economic Theory, Rationality Assumption, Concept of Equilibrium, Economic Law as Generalization of Human Behaviour
3. Basic Concepts: Goods and Services, Desire, Want, Demand, Utility, Cost and Price, Wealth, Capital, Income and Welfare
4. Agricultural Economics: Meaning, Definition, Characteristics of Agriculture, Importance and its Role in EconomicDevelopment, Agricultural Planning and Development in the Country
5. Demand: Meaning, Law of Demand, Schedule and Demand Curve, Determinants, Utility Theory, Law of Diminishing Marginal Utility, Equi-Marginal Utility Principle, Consumer's Equilibrium and Derivation of Demand Curve
6. Elasticity of Demand: Definition and Evaluation of Price Income, and Cross Elasticities
7. Production Process, Utility Creation, Production Factors, and Input-Output Relationship
8. Cost Curves Concepts, Short Run and Long Run Cost
9. Supply Stock vs. Supply, the Law of Supply, the Schedule, the Supply Curve, the Factors Affecting Supply, and the Elasticity of Supply
10. Market Meaning and Types of Markets, Basic Features of Perfectly Competitive and Imperfect Markets, Price Determination under Perfect Competition-Short Run and Long Run Equilibrium of Firm and Industry, Shut Down and Break Even Points, and More
11. Distribution Theory Definition, Factor Market, Factor Pricing, Concepts of Rent, Wage Interest, and Profit
12. National Income: Significance and Meaning, Circular Flow of National Income, Accounting Concepts, Measurement Methods, and Measurement Challenges
13. Population Theories of Importance, Malthusian and Optimum Populations, Natural and Socioeconomic Factors, and Population Control Policies and Programmes
14. Money Problems with the Barter System of Exchange, the Development of Money, Its Meaning and Purposes, Different Categories of Money, Supply, the General Price Index, Inflation, and Deflation
15. Banking Functions of Commercial and Central Banks, Bank Types, and Credit Creation Policies in the Modern Economy
16. Agricultural and Public Finance Definition, Micro vs. Macro Finance, Need for Agricultural Finance, Public Revenue and Expenditure: Agricultural and Public Finance
17. Tax Direct and Indirect Taxes, Agricultural Taxes, and VAT are all Types of Taxes
18. Economic Systems Economic Concepts and Their Functions Elements of Economic Planning and Important Characteristics of Capitalistic, Socialistic, and Mixed Economies
