ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Farmers of American Ranching and Rural Marketign
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Farming and Ranching Rural Mercantile
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Farming Around Rural Ranching Management
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Farm and Ranch Risk Management
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Detailed explanation-1: -The uncertainties inherent in weather, yields, prices, Government policies, global markets, and other factors that impact farming can cause wide swings in farm income. Risk management involves choosing among alternatives that reduce financial effects that can result from such uncertainties.
Detailed explanation-2: -As you think about managing risk to stabilize farm income, there are five basic sources of agricultural risk that you should address: production, marketing, financial, legal, and human resource risks. Various tools and strategies can be used to manage each of these risks.
Detailed explanation-3: -Agriculture is a risky occupation especially in India where irrigation facilities are there only in 43% of land area under agriculture. Crops have risk due to natural causes like flood, rain, drought etc. In such circumstances, we need to provide farmers with risk management and insurance.
Detailed explanation-4: -Economic Survey 2021. Agriculture in India. High Yield Crops.