Definition and Scope of Agricultural Economics - JSS2 Agricultural science Lesson Note

Agricultural economics delves into the economic aspects of agriculture, encompassing production, distribution, and consumption of agricultural goods and services. It applies economic principles to address challenges and optimise resource utilisation in the agricultural sector.

In this field, the distribution of limited resources like land, labour, and capital is crucial to maximising productivity and efficiency. Market analysis, which studies supply and demand dynamics, aids in understanding trends, price fluctuations, and market equilibrium, facilitating decision-making.