ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Farmers are producers. We grow crops and raise livestock that supply the world with food.

Detailed explanation-2: -An agricultural producer is a rancher or farmer. These parties produce crops, or breed livestock, or feed livestock prior to slaughter through day-to-day labor and field operations.

Detailed explanation-3: -An FPC is a hybrid between cooperative societies and private limited companies. The Farmer Producer Companies, registered under the Indian Companies Act, 2013, have democratic governance, each producer or member has equal voting rights irrespective of the number of shares held.

Detailed explanation-4: -What are producers and consumers? Consumers buy goods and services to satisfy their wants, and producers make goods and services. This video from the Explore Economics series for kids helps them understand that people are both consumers and producers. It uses easy-to-understand examples.