What is the essence of the law of minimum and what consequences can neglect of its requirements in agriculture lead to?

According to the ecological law of the minimum, the successful vital activity of the body is limited by the environmental factor, the quantity and quality of which are close to the minimum required by the body.
If there is enough nitrogen, phosphorus and other minerals in the soil, but not enough potassium, the plant will develop only until it has absorbed all the potassium.
Factors that restrain the development of organisms due to a shortage or excess in comparison with needs are called limiting.

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