Lecture Microeconomics (20/e): Chapter 20 - Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

Chapter 20 - Agriculture: Economics and policy. In this chapter, we start by looking at the economics of agriculture, investigating the elasticity of demand and price trends of agricultural goods. We will then examine reasons that the farming industry has been declining, using supply and demand analysis to explain this as well as the repercussions of the changes in the market. We will also discuss the types and outcomes of government intervention and recent changes in farm policy.