AGRICULTURAL ECONOMICS GLOSSARY

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This book contains concepts, theories, laws, hypotheses and definitions that are frequently encountered by both teachers and students of agricultural economics.

The issues have been simplified and presented alphabetically fr easy understanding and reference. It is a book that every teacher and student of agriculture economics must have. Also, teachers and students in relevant disciplines of agriculture and social sciences would find it very useful in understanding agricultural economics terminologies.

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Preface

Both students and teachers of agricultural economics are concerned with the application of economic principles for the purpose of resource mobilization and allocation in the agricultural sector. Therefore, the major subject areas of
interest for an agricultural economist include macroeconomics, microeconomics, production economics, econometrics, agricultural marketing, agribusiness management, farm management and accounting, agricultural finance, project appraisal analysis and planning, cooperative economics, mathematics and statistics, and other allied social science subject matter. With all these fields of study coupled with other disciplines in agriculture, an agricultural economist is constantly exposed to several theories, concepts, terms,
definitions, laws and -theorems of economics.

This book, therefore, is a compendium that is intended to provide first hand and quick reference material to both the students and teachers of agricultural economics. It contains over one thousand four hundred words from various economic subject areas. The intention therefore, is to put in the hands of readers a companion document that would be useful at all times. Ideas presented in this book are derived from many relevant reference materials, both text books and related web pages. It is not by any mean a substitute to text books in the relevant and respective fields of study but efforts have been made to explain difficult terminologies to the understanding -and comprehension of persons who may want to consult the book.

PROF. EDET JOSHUA UDOH
Department of Agricultural Economics and Extension
University of Uyo, Uyo
Akwa lbom State, Nigeria

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