Date of Award


Document Type


Degree Name

Master of Science

Degree Discipline



Economics has been defined as the science that deals with human want and their satisfaction. These wants vary according to the cultural milieu of a distinctive human group. The satisfaction of wants merges from a recognition of needs, together with some well-defined scheme of meeting those needs. The present economy in America has evolved through several stages, three of which have definite implications for this study. These stages are: (1) that of rugged individualism (2) that of capitalism and (3) that of producer-consumer cooperation. The two basic economic concepts, production, and consumption were in the early days of our country, distinctively, individual. The pioneer who blazed the trails some of which today are national highways, developed their social and economic institution. The farmsteads were the sources of the raw materials which were produced to satisfy the basic needs of life. The essential factors of the productive enterprises of pioneer rural families were land and labor. The farmstead was, likewise, the factory centre at which place the raw products of field and forest were processed or preserved for human consumption. The resulting finished or preserved products constituted the initial capital upon which future activities depended and from which the system of capitalism evolved.

Committee Chair/Advisor


Committee Member

C.R. Robinson

Committee Member

C.R. Robinson


Prairie View Agricultural and Mechanical College


© 2021 Prairie View A & M University

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Date of Digitization


Contributing Institution

John B Coleman Library

City of Publication

Prairie View





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