“Agricultural Transformation and Rural Development”

(Reflection Paper)

We are human beings who are naturally consuming basic necessities such as

foods and water in order to survive in this world full of our unsatisfied needs. The people

who are behind and satisfying our never-ending needs are the farmers, the one

composing our agricultural sector which are considered as our economy’s backbone

Agricultural and Rural Development are interrelated with one another and plays a

significant role in the economic development. Most especially on how

agriculture signifies an important part in rural development, especially due to land

use, in countries where the sector is of less economic significance. Then the next thing

that really got my attention for this topic is the “Game Theory” that I never once thought

included in our daily lives and the thing is, we are constantly doing it unconsciously. So,

I have learned that it is the study of the ways in which interacting choices of economic

agents produce outcomes. In simpler means, it is the decision-making regarding conflicts

and struggles within the social context or manner. Along with the emergence of the

varieties of firms, it is the fact that some of those firms are violating their respective right.

Some may even take advantage of their privileges. This is where the government and

product market regulations and Antitrust Law will take place. I have also learned the

two types of markets which are the Labor and Factor Market in which I considered as the

foundation of human capital and man power in the commerce field.

All in all, these interesting subtopics under the main topic “Agricultural

Transformation and Rural Development”. It is indeed that agriculture is the foundation of

manufacturers, since there is nothing that can surpass the nature’s production of art when

it comes to transforming raw materials into a finished product that can be worked

efficiently by the skills of humans through a process called Human Labor.