Sectors of Indian economy

Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products.

The original focus of agricultural economics was land usage and maximizing crop yield while maintaining a good soil ecosystem.

Throughout the 20th century, the discipline of agricultural economics expanded to include a variety of applied areas and now has considerable overlap with conventional economics.

<p>Agricultural economics overlaps with conventional economics, and also with research in economics, econometrics, development economics, and environmental economics.</p> Signup and view all the answers

<p>Agricultural economics influences food policy, agricultural policy, and environmental policy.</p> Signup and view all the answers

<p>Economics studies the production, distribution, and consumption of goods and services.</p> Signup and view all the answers

<p>Microeconomics analyzes individual agents and markets, their interactions, and the outcomes of interactions.</p> Signup and view all the answers

<p>Macroeconomics analyzes the economy as a system, including production, consumption, saving, investment, and factors affecting it.</p> Signup and view all the answers

<p>Positive economics describes 'what is', while normative economics advocates 'what ought to be'.</p> Signup and view all the answers

<p>Other distinctions include economic theory versus applied economics, and rational economics versus behavioural economics.</p> Signup and view all the answers