Economics of Food and Agriculture
A subsidy is a financial support granted by the government to individuals, businesses, or industries to encourage certain activities or reduce costs. This assistance can take various forms, such as direct cash payments, tax breaks, or grants, and aims to promote production, consumption, or investment in specific sectors. In agriculture, subsidies can significantly influence land economics and farmland valuation by affecting crop prices and land use decisions, while also playing a crucial role in global agricultural markets and trade agreements by shaping competitive dynamics and trade policies.
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