1 There appears to be widespread agreement that in regions where the distribution of land ownership is highly unequal (mainly Latin America but also parts of Asia), land reform is a necessary but not sufficient condition for promoting and improving small-scale agriculture. What is meant by this statement and by the concept of land reform?

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Productive and Allocative Efficiency Analysis

Productive efficiency, also referred to as production efficiency is a term in economics describing the level at which a company is operating at its maximum capacity. Beyond this point, the entity will be unable to manufacture any additional goods without cutting down another product’s production level. This occurrence is an outcome of production happening alongside a Production Possibility Frontier (PPF).