Agriculture Policy and MarketsThis supplementary chapter to Krugman/Wells, Microeconomics discusses the typical role of agriculture in an economy. |
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Africa agricul Agricultural Policy agricultural productivity growth benefits bioengineered crops biotech agriculture biotech crops biotech food Brazil chapter CHECK YOUR UNDERSTANDING chemicals China commodity prices corn cost deadweight loss demand curve developing countries direct payments elasticity of demand Engel curve environmental European Union export F₁ farm prices farm problem farm programs farm subsidies farmland Figure Florida food production food security Food self-sufficiency food supply gain genetically modified crops genetically modified food global GM crops golden rice green revolution growers guaranteed price import tariffs incentives increase industry inputs Japan labor force market prices million oil-for-food program orange juice output plants political poor countries population price floor principal-agent problem production function reduced relatively rice rich countries South Korea soybeans sugar program supply curve surplus taxpayers and consumers technological change tion U.S. agriculture U.S. cotton U.S. farm policy U.S. government U.S. sugar United wheat world price World Trade Organization