13.1 - 13.2 Flashcards
Infrastructure
the many systems and facilities that a country needs in order to function properly
Dual Agricultural Economy
an economy having two agricultural sectors that have different levels of technology and different patterns of demand.
Ex. One section may practice subsistence agriculture while the others may use commercial agriculture
Agribusiness
the large-scale system that includes the production, processing, and distribution of agricultural products and equipment
Hybrid
the product created by breeding different varieties of species to enhance the most favorable characteristics (grafting in The Sims 4)
Vertical Integration
the combining of a company’s ownership of and control over more than one stage of the production process of goods
Ex. Mcdonalds owning multiple parts in the production process in order to ensure that a mcdouble tastes the same no matter if it’s from New York or Cali
Commodity Chain
a network of people, information, processes, and resources that work together to produce, handle, and distribute a commodity or product
Ex. The distribution, proccessing, and packaging are all part of the commodity chain.
Think the chain of demand in law
(the stages that the food goes through to get on your dinner table)
Farm Subsidies
a form of aid and insurance given by the federal government to certain farmers and agribusinesses
Tariffs
a tax or duty to be paid on a particular import or export
TAriff = TAx