Crop Insurance: Risks, Losses, and Principles of Protection (Classic Reprint) - Tapa dura

Sinopsis

Excerpt from Crop Insurance: Risks, Losses, and Principles of Protection

Limiting consideration to the returns for the single year-and speak: ing this time first in terms of actual income rather than prospective income, farmer X, who grew and harvested an 8-bushel crop, had neither a profit nor a loss. He reaped an amount which at the price received was equivalent to his entire costs chargeable to the season's crop._ On the other hand, farmer Y, who, because of frost and drought reaped no harvest whatever, suffered a loss equivalent to his entire expenditure of labor and capital chargeable to the year's operations. Farmer Z, with his _14-bushel. Yield, in spite Of the damage to his crop by hail, realized a profit.

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