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Vocabulary Term Details

Farm business income

Definition (

Farm Business Income (sometimes referred to as Farm Business Profit)is Total Farm Gross Margin less the sum of the Fixed Costs incurred, before any charges for unpaid labour or notional rent on owner occupied land. Alternatively it is Total Farm Output less the sum of Variable and Fixed Costs. (Defra, p.19)

Preferred Units: N/A

Scope Note:

Broader TermsNarrower TermsRelated Terms
Farm income
N/AGross margins
Total farm gross margin

This term is used for the following terms: 
Farm business profit

Approved Date

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