Exogenous determinants of agricultural production - prices of the production factors and the selected macroeconomic indicators

Abstract

The paper aimed at assessment of the sources of economic growth in agriculture, with particular focus on verification of the character and efficiency of the sources. Emphasis was put on assessment of exogenous sources – relation of prices of the factors of production (capital, labour and land). This was captured in the convention of the analysis of price and degree of its rarity. The assessment covered also the relationship between the relations of prices of factors of production and their relations as for their engagement in production. In fact, the analysis covered the relationship between the price relations of production factors and the used production techniques. The attention was also focused on exogenous impacts in the field of monetary policy. Chapters: Production factor market as an exogenous condition. Production factor price relationships. Relationships of prices and employment of production factors. Monetary policy as a part of the exogenous mechanism of price formation in agriculture.,