Explore the economic principles in agriculture ... - JSS1 Agricultural science Introduction to Agricultural Economics Question

The Law of Diminishing Marginal Returns states that as more units of a resource are applied, the marginal return diminishes. In agriculture, this principle is significant because:

  - Optimising Resources: Farmers need to balance resource application to achieve maximum productivity without wastage.

  - Decision-Making: It guides decision-making regarding resource allocation, helping farmers avoid diminishing returns.