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# Agricultural Market Access Development Prerequisites

## Definition

The institutional, legal, and infrastructural conditions necessary for effective agricultural markets including secure property rights, free trade, reliable transportation, and accurate price information, which Smith argues were largely absent in medieval Europe.

## Source Chapter

Book III, Chapter 2

## Context

Smith identifies these prerequisites as essential for agricultural development, showing that without the institutional framework that protects property rights and enables free commerce, farmers cannot develop the specialization and market relationships necessary for efficient agricultural production.

## Economic Domain

Exchange

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