Tibbles, Warren Lance2023-05-292023-05-291960-06https://hdl.handle.net/1794/2833951 pagesNo apology for a paper on agricultural economics in the United States is necessary. It is a recognized problem area. But there seems to be some confusion as to the nature of the agricultural problem. The purpose of this paper is to determine as nearly as possible, exactly what the problems in agriculture are. Before analyzing the economic problems of any area, it would be best to state the goals of the economy. For what economic conditions are we striving? Two main goals can be identified; efficiency and equity. Efficiency is concerned with the allocation of resources. Resources should be distributed in such a manner that the largest amount of goods and services are delivered at the least cost. If a shifting of factors of production is possible which will either increase production or lower costs, or both, the concept of efficiency would suggest that the shift be made .enCreative Commons BY-NC-ND 4.0-USproduct valuefarm per capita net incomenet migration out of agricultureThesis / Dissertation