IMPORTANCE OF AGRICULTURE TO MAN AND THE NATION
￼ It’s no secret that the agricultural sector is the backbone of almost all economies in the world. It provides the basic ingredients mankind needs and the raw materials necessary for industrialization. Here’s a brief overview of the role of agriculture and how it impacts the national economy: 1. Source of Food Supply As aforementioned, agriculture has been the basic source of food supply for mankind for centuries. Whether a country is underdeveloped, developing, or developed, all nations depend on agriculture for its food. And as the demand for food continues to increase, so does the demand for more land to farm and cultivate food products. Agriculture has been found to adversely affect the economic growth of many nations, making it an important factor for every country’s economic growth. 2. Contribution to National Income Agricultural prosperity has significantly contributed to and fostered the economic advancement of several countries. It’s also been correctly observed that even the leading industrialized countries were once predominantly agricultural. Similarly, developing countries now have the dominance of agriculture, which largely contributes to their national income. 3. Relief from Capital Shortage The development of the agricultural sector of developing countries has also helped relieve them from a shortage of capital. Previously, developing countries were more reliant on foreign capital, which usually came with strings attached to them. The agricultural sector requires a lot less capital for development. Thus, it minimizes the growth problem touching on foreign capital. 4. Pre-Requisite for Raw Materials Besides providing just food products, agricultural advancement has also made this industry a hub for raw materials. The shortage of agricultural products can impact the agro-based industry significantly and usually cause a consequent increase in their product price levels. It can also impede the growth of the nation’s economy, especially developing countries, which largely depend on agricultural products to boost their economies. 5. Creation of Infrastructure Agricultural development subsequently requires the development of other national infrastructures like roads, storage units, transportation railways, market yards, postal services, etc. For an infrastructure that’s creating high demands for industrial products, the agricultural sector also demands the development of the commercial sector.
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