Principle of Agricultural Market_4

What factor affects the demand of a good ?

What are the factors affecting the supply of a good ?

What is curve shifting ?

General principle of demand and supply applies for what type of market ?

What do a farmer demand and supply at the same time as input

Where do the price change in the market affects ?

What is the relevancy of understanding market behaviour in smallholders case ?

What is the purpose of understanding elasticities ?

What is Engel’s law ?

What is Bennett’s law ?

Classify goods according to their income elasticity

What is own-price elasticity of demand ?

What is own-price supply elasticity ?

What is cross price elasticity of Demand ?

What are substitutes and complements ?

What will happen if price raise in one of the substitute good ?

What will happen if price raise in complement good ?

Why in case of luxury goods income elasticities are greater than one ?

What will happen in case of necessary good when income changes ?

What is the importance of understanding demand elasticities ?

How agriculture research budget affect the nutrition status of the HH ?

What is the most common welfare measure to evaluate policies?

What is producer and consumer surplus ?

What helps to quantify the consumers and producers surplus ?

What is closed and open economy ?

what are non-tradable goods ?

What is small open economy ?

What is large open economy ?

What factors affects a country to successfully participate in trade ?