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LSDefine
Simple English definitions for legal terms
agribusiness
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A quick definition of agribusiness:
Agribusiness: The term agribusiness refers to the business of farming, which involves growing crops and raising animals for food, fiber, and other products. It includes everything from planning how to use the land and labor to financing the cost of equipment and other necessary expenses. Essentially, agribusiness is the pursuit of agriculture as a way to make money.
A more thorough explanation:
Agribusiness is the practice of farming as a way to make money. This includes everything from planning how to use the land to financing the cost of equipment and other expenses.
For example, a farmer might decide to grow corn on their land. They would need to plan how much land to use, what kind of equipment to buy, and how much money they need to spend on seeds and fertilizer. They might also need to hire workers to help with planting and harvesting.
Another example of agribusiness is a company that sells farm equipment. They would need to understand the needs of farmers and provide them with the tools they need to be successful.
These examples illustrate how agribusiness involves not just farming, but also the business side of agriculture. It requires careful planning, financial management, and an understanding of the needs of farmers and the market.