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685 B
Agricultural Productivity
Definition
The efficiency with which agricultural land produces crops and livestock, typically measured as output per unit of land or per unit of labor. Agricultural productivity is a key determinant of land rents and agricultural profits.
Source Chapter
Book I, Chapter 11
Context
Smith examines how improvements in agricultural productivity through better techniques and technologies increase land rents and reduce the real cost of food, supporting broader economic development.
Economic Domain
Production