The role of agriculture in economic development is significant from "summary" of Theory of Economic Growth by W. Arthur Lewis
The importance of agriculture in the process of economic development cannot be overstated. Agriculture not only provides food for the population but also serves as a key sector for generating income and employment opportunities. In many developing countries, a significant portion of the population is engaged in agriculture, making it a crucial driver of economic growth. Agriculture plays a vital role in the overall development of an economy by contributing to the growth of other sectors. The surplus generated from agriculture can be used to finance industrial expansion and infrastructure development, which are essential for sustained economic progress. Additionally, agriculture provides raw materials for industries, thus supporting the growth o...
Similar Posts
Eat food
The idea of eating food may seem obvious at first glance, but in today's modern food environment, the concept has become increa...
Governments play a crucial role in the economy
Contrary to what many people believe, markets do not function in a vacuum. Governments play a crucial role in shaping the econo...
Competition fosters innovation
The concept of competition fostering innovation is a fundamental principle in economics. When firms are faced with competition ...
Sustainability requires us to consider the longterm impacts of our actions
Sustainability is a concept that is often discussed in relation to our impact on the environment. It requires us to think beyon...
Farmers face challenges in adapting to climate change and variability
Farmers are finding it increasingly difficult to adapt to the changing climate and unpredictable weather patterns. As temperatu...
Food is more than just nutrients
Food is a complex entity that goes beyond simply providing us with essential nutrients. It is intertwined with cultural, social...
Eating habits affect global hunger
In today's world, the choices we make about what to eat have far-reaching consequences that extend beyond the boundaries of our...
Prioritize nutrientdense foods for fueling the body
To truly nourish ourselves, we must prioritize foods that are rich in nutrients. These foods are like high-octane fuel for our ...
Ensuring access to basic amenities for all individuals
The fundamental idea behind providing access to basic amenities for all individuals is to ensure that every person, irrespectiv...
Consumer surplus measures consumer benefit
Consumer surplus is a concept that reflects the benefit consumers receive from purchasing a product or service. It represents t...