Question on: JSS1 Agricultural science - Introduction to Agricultural Economics
Examine the role of agricultural economics in economic systems related to agriculture.
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Agricultural economics plays a crucial role in economic systems related to agriculture by:
- Resource Allocation: Influencing how resources such as land, labour, and capital are distributed among various agricultural activities.
- Market Dynamics: Shaping market structures and determining price mechanisms.
- Efficiency: Optimising resource use to enhance overall productivity and profitability in agriculture.
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