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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.
A farmer is a person engaged in agriculture, raising living organisms for food or raw materials. [1] The term usually applies to people who do some combination of raising field crops, orchards, vineyards, poultry, or other livestock. A farmer might own the farmland or might work as a laborer on land owned by others.
Agricultural economics is an applied field of economics concerned with the application of economic theory in optimizing the production and distribution of food and fiber products. Agricultural economics began as a branch of economics that specifically dealt with land usage. It focused on maximizing the crop yield while maintaining a good soil ...
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 ...
The USDA's Economic Research Service (ERS) has developed a farm typology, or farm classification, that divides the 2.1 million U.S. farms into 8 mutually exclusive and relatively homogeneous groups: limited resource farms; retirement farms; residential/lifestyle farms; farming occupation/lower sales; farming occupation/high sales; large family ...
Detroit slang is an ever-evolving dictionary of words and phrases with roots in regional Michigan, the Motown music scene, African-American communities and drug culture, among others. The local ...
Net farm income is gross farm income less cash expenses and noncash expenses, such as capital consumption, perquisites to hired labor, and farm household expenses. It is a longer term measure of the ability of the farm to survive as a viable income-earning business. Net cash income is a shorter term measure of cash flow.
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