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AECO 141: PRINCIPLES OF AGRICULTURAL ECONOMICS
| Institution | University |
| Course | AGRICULTURAL ECONOMI... |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | Mwalimu Evans Okoyo. |
| File Type | |
| Pages | 86 Pages |
| File Size | 1.36 MB |
| Views | 231 |
| Downloads | 0 |
| Price: |
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Description
The document discusses the meaning and definitions of economics. It covers traditional and modern approaches to economics including microeconomics and macroeconomics. Microeconomics focuses on small decision making units like firms or consumers. Macroeconomics analyzes aggregates for the whole economy like GDP, employment, output.
Below is the document preview.
AECO 141: Principles of Agricultural Economics
Economics is popularly known as the “Queen of Social Sciences”. It studies economic activities of a man living in a society. Economic activities are those activities, which are concerned with the efficient use of scarce means that can satisfy the wants of man. After the basic needs viz., food, shelter and clothing have been satisfied, the priorities shift towards other wants.
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