Quick Answer: What Does Diversification Mean In Farming?

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What is meant by agriculture diversification?

In the agricultural context, diversification can be regarded as the re-allocation of some of a farm’s productive resources, such as land, capital, farm equipment and labour to other products and, particularly in richer countries, to non- farming activities such as restaurants and shops.

How is agriculture diversification helpful for farmers?

Agriculture Diversification refers to either a change in cropping pattern or the farmers opting for other non- farming options like poultry farming, animal husbandry, etc. This practice allows farmers to expand the production, which helps generate a higher level of income.

What is an example of diversification?

Diversification: create new opportunities by creating new products that will be introduced in new markets. When you hear the word Disney, what comes to mind? Many people think of Disney movies such as Cinderella and Beauty and the Beast or theme parks like Disneyland and Disney World.

What are the two aspects of diversification of agriculture?

Diversification of crops includes two aspects – (i) one relates to diversification of crops production, and ( ii ) the other relates to a shift of workers from agriculture to other allied activities (live-stock, poultry, fisheries, etc.) and non- agriculture sectors.

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What are the benefits of livestock farming?

It generates high-quality food products such as meat, egg, milk, cheese, etc. Other local economic sectors benefit directly or indirectly from its activity: food processing industries, handicrafts, tourism and hospitality. It is one of the few human productive economic activities that are truly sustainable.

Why is agricultural diversification essential?

Diversification is essential because there is greater risk in depending exclusively on farming for livelihood and to provide productive sustain able livelihood options to rural people.

Why do you think Indian farmers need to diversify agriculture?

Answer: Agricultural products are not able to compete with the developed countries because of the highly subsidized agriculture in these countries. Indian farmers should diversify their cropping pattern from cereals to high-value crops. To make agriculture successful, the condition of small and marginal farmers.

What are the three types of diversification?

There are three types of diversification techniques:

  • Concentric diversification. Concentric diversification involves adding similar products or services to the existing business.
  • Horizontal diversification.
  • Conglomerate diversification.

What do u mean by diversification?

Diversification is a risk management strategy that mixes a wide variety of investments within a portfolio. The rationale behind this technique is that a portfolio constructed of different kinds of assets will, on average, yield higher long-term returns and lower the risk of any individual holding or security.

How do you explain diversification?

Diversification is a technique that reduces risk by allocating investments across various financial instruments, industries, and other categories. It aims to maximize returns by investing in different areas that would each react differently to the same event.

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What is diversification of crop production class 12?

1. Diversification of crop production refers to a system of multiple cropping rather than mono cropping. It may also mean a shift from subsistence farming to commercial farming.

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