Gail L. Cramer is currently L. C. Carter Chair Professor in the Department of Agricultural Economics and Agribusiness at thre University of Arkansas, a position he has held since 1987. He attained his Bachelor's degree in 1963 from Wahsington State University, hos Master's degree from Michigan State University in 1964, and his Ph.D. in Agricultural Economics from Oregon State University in 1967. Clearance W. Jensen is currently Professor Emeritus in the Department of Agricultural Economics and Economics, an appointment he has enjoyed since 1980.He attended Montana State College where he was granted Bachelors and Masters degrees in Agricultural Economics and Economics in 1951 and 1952. Further graduate work at Michigan State University was completed, where he received the Ph.D. degree in Agricultural Economics and Economics in 1958.Douglas D. Southgate, Jr. is a Professor of agricultural economics at Ohio State University, where he also has directed the International studies Center and the Latin American Studies Program. He was awarded a bachelor's degree in economics by the University of Oregon in 1974 and was elected to Phi Beta Kappa. He completed his Ph.D. in agricultural economics at the University of Wisconsin, in 1980, and the same year joined the faculty at Ohio State. He was promoted to associate professor in 1986 and to full professor in 1995.

• 1. Introduction 1 2. The Farm and Food System 213. Consumer Behavior and Demand 494. Producer Decision Making: Single-Variable Input 775. Producer Decision Making: Two-Variable Inputs and Enterprise Selection 1016. Production Costs, Supply, and Price Determination 1377. Competition and the Market 1718. Imperfect Competition and Market Regulation 1919. Macroeconomics 21710. Financial Picture of Agriculture 24511. Agricultural Price and Income Policies 27712. Market Agricultural Commodities 31113. Natural Resources 34514. Rural Development 36915. International Economics 39716. Agriculture's Role in Economic Development 42917. Global Food Demand and Supply 451A List of Reference Books for the Beginning Student 479Basic Sources of Agricultural Statistics 483Glossary 489Photo Credits 505Index 507