Specifically, the study econometrically determined the factors influencing beef consumption in urban and peri-urban areas of the city; and found out whether there was a significant difference between urban and peri- urban areas (suburbs) of the city in terms of the magnitudes of these demand drivers of beef consumption in the study area. [...] The quantity of a commodity that is available in the market depends not only on the price obtainable for the commodity but also on the prices of substitutable products, the techniques of production, and the availability and costs of labour and other factors of production. [...] Agriculture is the major source of livelihood of the people of Rivers State and the agricultural policy of the state government is hinged on food production as it provides food for the bourgeoning population of households in the State, employment for young school leavers and university graduates as well. [...] Before selecting the best fit model out of the four specified above and tried, the researcher considered standard model selection criteria such as values of Schwarz Information Criteria (SIC), Akaike Information Criteria (AIC) (the lower the values of the preceding statistics the better the model), the value of adjusted R2 estimate (the higher the better), the level of significance (p value) of th. [...] The implication of the estimated adjusted R2 is that 69 percent of the variation in the dependent variable (household expenses on beef) was as a result of the variations of the explanatory variables included in the model.
Authors
- Pages
- 8
- Published in
- Nigeria
