1. Introduction to Agricultural Economics

1. Introduction to Agricultural Economics - Introduction to...

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Click to edit Master subtitle style 2/11/11 Introduction to Agricultural Economics
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2/11/11 Economics Defined Economics: a social science that studies the allocation of scarce resources among an unlimited number of competing alternative uses. Agricultural Economics: a social science that studies the allocation of scarce resources among those competing alternative uses found in
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2/11/11 Basis for Economics Study of economics rests on a three- part foundation: 1. Scarcity 2. Choice 3. Self-interest
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2/11/11 Basis for Economics Scarcity Example: in any geographic area, the amount of land available is finite. In some geographic areas there is intense competition among housing, farming, industry, and environmental amenities for the limited land that is available. Especially in developing areas, the number of desired uses for any given parcel of land
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2/11/11 Basis for Economics Choices: Since the demand for resources typically exceeds the quantity of resources
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This note was uploaded on 02/10/2011 for the course AEB 3103 taught by Professor Cazanova during the Fall '08 term at University of Florida.

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1. Introduction to Agricultural Economics - Introduction to...

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