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Rangeland economics is the application of economic theory and principles to issues related to rangeland management. Historically, it has been used to decide whether a rangeland or ranch management practice would be profitable and to estimate values for different rangeland goods and services. Similarly, rural sociologists have applied social theory and principles to how rural communities are affected by rangelands or how rangeland management affects them. Examines different aspects of economics and sociology and how they are applied to rangeland and ranch management.