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EconomicsQuestion The most important contribution of the agricultural sector is to provideincremental markets for new products manufactured in the industrial sector Answer Thecontribution of the agricultural sector not only provide incremental markets for newproducts manufactured in the industrial sector it also has contribution on increasing thesupply of food and new material to other sectors tax revenue to the government to provideinvestable surplus to other expending sectors and to provide foreign exchange The first contribution of agricultural sector is to provide sufficient food for the labors in the industrial sector From Lewiss balanced growth model we know that if supply of good to the modern sector cannot catch up with the demand of food in the modern sector the modern sector has to spend a large amount of money to import food to feed the labors and have reduce the accumulation of capital As indicated by J Mellow It is in practice and in concept that it is possible for the agricultural sector to provide new productivity The agricultural sector also provide investable surplus and tax revenue to other expending sectors The excess supply of labors in the LDCs reduce the bargaining power of the labors As a result their wages are assumed to be constant As labors shift to modern sectors from agri sector the productivity of the agri sector will increaseMPL increase There will have some surplus and the landlord will use these surplus to reinvest to the agri sector drive up the MPL further In this case the TPPL will increase with given number of labor the productivity increase due to new equipment the surplus further increase and the landlord will further expend their investment Another contribution is tax revenue The increasing productivity of agri sector provide resources to other sectors If the resources are used productively the effect can be accerlated The new resources refer to supply of labor new material and food The increase production of food not only to
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