ENGLISH


201 PRESENT VALUE


F: VALEUR ACTUELLE
S: VALOR PRESENT


The value now of some money amount or CASH FLOW to be paid or
received in the future, adjusted for differences in the value of
money over time arising from the OPPORTUNITY COST of capital. The
present value of a future sum is calculated by DISCOUNTING the
future sum.


202 PRICE INDEX


 F: INDICES DES PRIX
S: INDICES DE PRECIOUS


A numerical measurement to show variations in price or prices over
time or space. Many different formulae have been suggested as the
bases of measurement.


203 PRINCIPLE OF ACTIVITY CHOICE


 F: PRINCIPLE DU CHOIX
 DES ACTIVITIES
S: PRINCIPIO DE ELECTION
 DE ACTIVIDADES


The economic principle that ACTIVITIES should enter the farm plan
so long as their expected contribution to NET FARM INCOME exceeds
the OPPORTUNITY COST of the RESOURCES they use.


204 PRINCIPLE OF
 COMPARATIVE ADVANTAGE


F: THEORIE DU COUT COMPARATIF
 S: PRINCIPIO DE
 VENTAJAS COMPARATIVAS


The economic principle implying that various crops and livestock
should be produced in those areas where the physical and other
RESOURCES are best suited to their production under prevailing
price relationships. At the FARM level this implies that the
preferred activities should be those that generate the highest
GROSS MARGIN per unit of FIXED COST.


205 PRINCIPLE OF GOAL TRADEOFF


 F: PRINCIPLE DU CHOIX
 DES OBJECTIFS
8: PRINCIPIO DE SUBSTITUCION
 DE OBJETIVOS


The economic principle that a farmer should trade off competing
goals so long as the gains in satisfaction from the goal receiving
increased emphasis is greater than the loss in satisfaction
incurred by decreasing emphasis on the other goal or goals.


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