A study of the aggregate supply function of New Zealand wheat : thesis presented in part fulfilment of the requirements for the degree of Master of Agricultural Science and Honours in the University of New Zealand
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Date
1955
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Massey University
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Abstract
The acreage of wheat in New Zealand fluctuates quite
markedly from year to year. The acreage grown depends upon
economic conditions at the time of planting and certain technical factors. In this thesis an attempt has been made to identify the specific influence of certain of these economic and technical variables.
Reducing the discussion to its simplest terms, the aim of
this thesis has been to answer such questions as:
"What is the effect on wheat acreage of 1d rise in the price of wheat?" or
"If the fat lamb schedule next year is 1/3d per lb. , what will the effect on wheat acreage be?" or
"Given such and such conditions, what is the best estimate of the acreage which will be sown in wheat?"
and 'What conditions are necessary in order that New Zealand should produce 100,000/200,000/300,ooo acres of wheat?"
Answers to these questions are useful on two counts.
Passively, administrators will wish to forecast domestic production when making arrangements to import wheat; and acreage has a big influence on production. Actively, administrators, or the Government, may wish to influence production and answers to the above questions will tell them the conditions under which this may be done. [From Introduction]
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Keywords
Wheat, Supply demand, New Zealand Agriculture, Economic aspects