StudyPath

AGT 112 Elements of Agricultural Economics

ND1 levelComputing & ICT15 topics

AGT 112 covers 15 topics. StudyPath paces them into daily study sessions that finish before your exam date, with practice questions and worked answers for each one.

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Course outline

The topics this course covers, in teaching order.

  1. Meaning and scope of economics and agricultural economics
  2. Economics and other social sciences
  3. Economic problems
  4. Scarcity, choice and opportunity cost
  5. Demand and law of demand
  6. Demand curves, equations and types of demand
  7. Supply and law of supply
  8. Supply curves, equations and types of supply
  9. Market forces of demand and supply
  10. Equilibrium price determination
  11. Price control
  12. Price fluctuations of agricultural products
  13. Elasticity of demand and supply
  14. Cross and income elasticities
  15. Importance of elasticity in agriculture

A sample from this course

One topic, as StudyPath teaches it.

Meaning and scope of economics and agricultural economics

Economics is the study of how societies use scarce resources to produce goods and services and distribute them among people. Agricultural economics applies economic theory and methods to the production, distribution, and consumption of food and fibre, addressing issues such as farm management, market structure, and policy.

What you get for AGT 112