Asked by michelle hopkins on Jul 12, 2024
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The Agricultural Act of 2014 created two new crop insurance programs, agricultural risk coverage and price loss coverage.
Crop Insurance Programs
Government or private sector initiatives designed to protect farmers against losses due to natural disasters, pests, or drops in market prices.
Agricultural Risk Coverage
A form of crop insurance that pays out if the total revenue generated by all the farmers planting a given crop in a given county falls below a predetermined value.
Price Loss Coverage
A form of crop insurance that pays participating farmers if the market price of their output falls below a predetermined value.
- Acquire knowledge about the impact that agricultural subsidies and policies have on farming economic conditions.
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Learning Objectives
- Acquire knowledge about the impact that agricultural subsidies and policies have on farming economic conditions.
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