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Publication Information

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Title: Agroforestry Economics and Policy

Author: Godsey , L.D.; Mercer, D. Evan; Grala, Robert K.; Grado, Stephen C.; Alavalapati, Janaki R.R.

Date: 2009

Source: In: H.E. Garrett (ed.), North American Agroforestry: an Integrated Science and Practice 2nd Edition. American. Society of Agronomy. Madison, WI. Pp. 315-337.

Publication Series: Journal/Magazine Article (JRNL)

Description: Essentially every living thing on Earth has applied the basic concepts of economics. That is, every living thing has had to use a limited set of resources to meet a minimum set of needs or wants. Although the study of economics is often confused with the study of markets or finance, economics is simply a social science that studies the choices people make. As a social science, economics is the study of human motivations. Or, as Landsburg (1993) put it, “most of economics can be summarized in four words: ‘People respond to incentives’.” Those incentives reflect the value of the trade-offs made between a limited set of resources and an unlimited set of wants, needs, and desires.

Publication Notes:

  • We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
  • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.

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Godsey L.D., D.E. Mercer, R.K. Grala, S.C. Grado and J.R.R. Alavalapati. (2009) Agroforestry Economics and Policy. In: H.E. Garrett (ed.), North American Agroforestry: an Integrated Science and Practice 2nd Edition. American. Society of Agronomy. Madison, WI. Pp. 315-337.

 


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