Basic Knowledge in Agriculture #39

I am here to participate in this contest organised in steem-agro community so everyone will like to share nice thought based on the above topic.

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Discuss on Agricultural economics

Agricultural economics is the process by which society meets the needs of a large population through agricultural means or other available resources that will improve the well-being of people. Agriculture is one of the largest economies that generates income for most countries, especially in Nigeria and other West African countries.

Many of the goods or farm products consumed by individuals sustain their life because this aids in our standard of living as well as helps our country to grow and make a progress. Farming is not just to feed our families alone; instead, it's a business to sell or trade with other countries so that it can play a significant role in our economic development.

Importance of Agricultural Economics

The importance of agricultural economics is discussed below:

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• Agricultural economics helps farmers to make effective use of resource allocation, such as money to invest, labor, and land. This will help ensure sustainable agricultural production.

• Agricultural economics improves the wellbeing of rural farmers in their communities by ensuring everyone in the community is fully employed through available resources, and it also contributes positively to the development of rural communities.

• It also addresses the problems that farmers may face in the international market, which includes trade agreements between two countries, as well as analyzing policies to benefit everyone.

• Agricultural economics enables farmers to choose the best crops to plant so that they can grow effectively through proper management, yielding good returns to support our families.

Challenges Encountered in Agricultural Economics and the possible solutions

Countries whose major occupation is farming face a lot of challenges as a result of global competition. Crops such as wheat, rice, and millet may constantly change in price in the world market, making it difficult for farmers to plan effectively.

Another challenge in agricultural economics is that many farmers cannot afford technology such as tractors to boost agricultural products in the market, so those who have modern agricultural technology can stand firm in the marketplace where competition may begin among them. Heavy rain and extreme weather can destroy farm products, leading to loss.

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These are the possible solutions:

➡️A person who invests in agriculture based on agricultural economics must employ workers. They must ensure that the salary given to them is attractive in order to encourage them to work.

➡️Planting different crops that enhance nutritional value so that everyone can have access to food in the community.

➡️Drones must be acquired in order to help monitor our farms for water stress, while practicing organic farming and adapting pest management, which can help lower environmental effects.

I would like to invite @josepha, @huraira50 and @sana-khan01 to join me.