Concept information
Preferred term
net farm income
Type
-
Topic
Definition
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A measurement of the profit or loss associated with a given year's production. It is an approximation of the net value of agricultural production, regardless of whether the commodities were sold, fed, or placed in inventory during the year. Net farm income equals the difference between gross farm income and total expenses. It includes nonmoney items such as depreciation, the consumption of farm-grown food, and the net imputed rental value of operator dwellings. Additions to inventory are treated as income.
Source: Agriculture Fact Book, USDA
Type: Concept definition
Broader concept
In other languages
-
Spanish
URI
https://lod.nal.usda.gov/nalt/39494
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