Colman and Young address the main economic principles required by agricultural economists involved in rural development. They draw upon the characteristics of agricultural and food systems in less developed countries to highlight the importance of economic principles. Because argriculture presents unique problems to economists, this book equips the reader with the analytical tools that agricultural economists need for the study of supply, demand, and agricultural markets in developing countries. The book considers the three main strands in the theoretical analysis of agricultural product markets--production, consumption, and exchange. In addition, later chapters assess the merits of alternative economic situations.
