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Ag. Economics
Basic difference between agriculture and industry
Ag. Economics

Basic difference between agriculture and industry

Musa March 9, 2019

Difference between agriculture and industry

 
 
Agriculture
Industry
1. Agricultural production is affected by the climate factors.
Y= f (x1, x2 , ………….….. xn) + ui
ui= Exogenous variables, like: over flood, over rainfall, drought. cyclone, sidre etc.
1. The climate factors do not affect the industrial production.
Y= f (x1, x2 , ………….….. xn)
There is no effect of exogenous variables in the industrial production.
2. The risk and uncertainty is existed in agriculture. Such as: Resources uncertainty, Production uncertainty, technological uncertainty, price uncertainty etc.
2. The risk and uncertainty are existed in industry.
 
3. Large area of land is needed for agricultural production.
3. Large area of land is not needed for industrial production.
4. Agricultural products arc perishable.
4. Industrial products are not perishable.
5. Illiterate and inefficient labour can be employed in agriculture.
5. Illiterate and inefficient labour cannot be employed in industry.
6. Agricultural commodities are produced maintaining the long time duration.
6. Industrial commodities are produced maintaining the short time duration.
7. Demand and supply of agricultural products are inconsistent.
7. Demand and supply of industrial products arc consistent.
8. Shadow unemployment is existed in aquiculture.
8. Shadow unemployment is not existed in industry.
9. Industrial products are used as raw materials in agriculture.
9. Agricultural products are used as raw materials in industry.
10. Price fluctuation is very high in agriculture.
10. Price fluctuation is very low in industry.
11. Agricultural farms are called subsistence farms. Farm is led for livelihood.
11. Industrial farms are called commercial farms. Farm is led for profit.

You can see more article about Agricultural Economics

Important Agricultural Websites

Online Agricultural Study

Food and Agricultural Organization

United States Department of Agriculture

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Musa

I'm studying plant pathology. I have completed my Bachelor of Science in Agriculture degree.

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