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Dairy cattle in a barn in Quebec. Canada's supply management (French: Gestion de l'offre), abbreviated SM, is a national agricultural policy framework used across the country, which controls the supply of dairy, poultry and eggs through production and import controls and pricing mechanisms.
A French action plan developed in 2009 at the Ministry of Agriculture, Agrifood, and Forestry was aimed at supporting the development of short food chains (les circuits courts de commercialisation des produits agricoles). According to the plan, short food chains are defined on the base of the number of actors involved. SFSC are considered as ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
The term food system describes the interconnected systems and processes that influence nutrition, food, health, community development, and agriculture.A food system includes all processes and infrastructure involved in feeding a population: growing, harvesting, processing, packaging, transporting, marketing, consumption, distribution, and disposal of food and food-related items.
The broadest definition includes handheld power tools, but in general usage, the term implies huge motorized machines, particularly tractors and the many types of farm implements which they tow and/or supply power to. The mechanization of agricultural tasks is a defining element of industrial agriculture.
The shift in consumer demand for an inferior good can be explained by two natural economic phenomena: The substitution effect and the income effect. These effects describe and validate the movement of the demand curve in (independent) response to increasing income and relative cost of other goods. [9]