Farm subsidies

Updated: Aug 20, 2021

Subsidies to farmers. These may take the form of price support payments, to increase farm incomes per unit of output, or direct payments to farmers, for example as compensation for taking land out of cultivation. Such subsidies are designed to increase farm incomes, and slow down the tendency in modem economies for farmers to leave the land.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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