 What is the Abrahamic covenant?

First of all, a covenant is an agreement between two parties. And The

covenant is a promise that God made with Abraham.

 How does an understanding of the Abrahamic covenant relate to my understanding

and appreciation of Father’s plan and to Jesus Christ and His everlasting gospel?

The Abrahamic covenant enables families to continue throughout eternity.

Salvation and eternal life. The Lord promised Abraham that through his
descendants “shall all the families of the earth be blessed, even with the
blessings of the Gospel, which are the blessings of salvation, even of life
eternal” (Abraham 2:11).

b. Jesus Christ is central to Heavenly Father's plan. The Atonement of Jesus

Christ makes it possible to overcome the obstacles of spiritual and physical
death. Heavenly Father prepared degrees of glory for His children. And it is in
this sense, because that life is everlasting and can never die out, that Jesus
Christ is called “the everlasting Father.” Everything in us calls Christ “Father.”
He is the author and finisher of our faith. If we love, him, it is because he first
loved us.

 What are the covenant obligations and blessings of the Abrahamic covenant?

According to the covenant, God would offer protection and land to Abraham
and his descendants, but they must follow the path of God. God then
commanded Abraham and his future generations to perform the ritual of
circumcision (brit milah) as a symbol of the covenant.

 Why would God make this covenant at this time of the earth’s history with this
individual (Abraham)?

God's enduring covenant with Abraham should be a comfort to the Church.

God's promise to Abraham models His heart towards humanity. Covenants
are one of the most important themes in the Bible—they are the key to God's
redemptive plan to restore humanity to its divine calling. Starting in Genesis, God
enters into one formal partnership (i.e., covenant) after another with various
humans in order to rescue his world.

 What is a fundamental principle a person should understand in order to have an

accurate understanding of the Abrahamic covenant as related to the Savior and His
everlasting gospel?

Understanding the Abrahamic covenant is crucial to understanding the Bible

because it is a foundational part of God's plan for salvation. Through the
Covenant of Abraham, he and his descendants are promised the blessings of the
everlasting gospel through baptism in the Lord's Church, [2] the blessings of the
priesthood, both Melchizedek and Patriarchal, the blessings of celestial or eternal
marriage, an extension of the Patriarchal Priesthood.

Why did God choose only Abraham over the others?

I think that God waits for Abraham and Abraham merits to be chosen because of
his faithfulness. Here, Abraham is chosen, because he possesses superior logic,
above anyone in his generation. He is able to reason his way toward an
understanding of God. This ability earns him the right to be called on by God.

Is God’s covenant with Abraham also important to us?

Being a child of the covenant means you are a descendant of ancient patriarchs
who made covenants with God and whose posterity God promised to
bless. Abraham, Isaac, and Israel received great blessings in this life and in
eternity. These same blessings are yours—if you, too, make and keep covenants
with God.