Product Overview
Unlike other similar books, this step-by-step introduction to basic economics focuses on economic and management decision making in agriculture, specifically; systematically explores the full range of theoretical tools; and then relates them to practical management situations using real-world data and examples and the most up-to-date agricultural policy. Covers the full range of tools for management decision making (how much to produce, how to produce, what to produce) -- e.g., physical production relationships, cost relationship in production, utility maximization and Consumer Demand Theory, supply and demand, and market price determination. Explores a variety of managerial situations and tools -- e.g., competitive decision making; noncompetitive decision making; time, risk, and uncertainty. Considers the decision making environment -- e.g., marketing activities, governmental impacts in agriculture, macroeconomic policy linkages to agriculture and agribusiness, international trade and agriculture, and environmental considerations. Uses real-world data and examples to illustrate basic theoretical concepts. For those interested in agricultural management and agricultural economics.
