Agriculture remains a vital sector from "summary" of Economic Development by Michael P. Todaro,Stephen C. Smith
Agriculture, despite its declining share in most economies, continues to play a crucial role in economic development. This is especially true for developing countries, where the majority of the population still relies on agriculture for their livelihood. The sector serves as the primary source of income for many households, particularly in rural areas, and contributes significantly to overall GDP. Furthermore, agriculture remains essential for food security and poverty reduction. A productive agricultural sector ensures a steady supply of food for the population, reducing dependence on imports and stabilizing prices. By promoting agricultural development, countries can also create employment opportunities, especially for the poor and marginalized communities. This, in turn, helps reduce income inequality and improve living standards. Moreover, agriculture provides a foundati...
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