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...B sc ag st year nd semester sub fundamentals of agricultural economics credit hours teacher name s k rajak college agriculture balaghat lecture i meaning ii definitions iii scope and iv positive science or normative v subject matter vi approaches to economic analysis micro macro basic concepts deals with maintaining an efficient balance between unlimited wants limited resources in everyone life also the production distribution consumption goods services this chapter we will study detail understand it better two major factors are responsible for emergence problems they existence human scarcity available numerous be satisfied through scarce nature how thus center on want effort satisfaction not only covers decision making behavior individuals but variables national income public finance international trade etc word originates from greek work oikonomikos which can divided into parts qa a oikos means home nomos management head family faces problem managing members within fact same is true ...