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This book provides a simple but effective introduction to economics. Fully updated and revised, this fourth edition incorporates the recent changes that have taken place in the environment in which agriculture operates. Covering the impacts of the EU expansion to 28 Member States, major changes to financial support of agriculture, financial crises, economic recession and, in many countries, high levels of unemployment, it provides a rounded and up to date introduction to the subject. The inclusion of chapter-focused exercises, essay questions and further reading suggestions make this textbook an invaluable learning tool for students of agriculture, economics and related sectors.