Glossary
Key concepts and terms in the new and expanded food
dollar series:
The new and expanded food dollar series uses different
source data and different estimation methods than the
marketing bill series that it replaces.
Farm Share: Producer value of total
annual farm commodity sales that are linked to annual
food dollar expenditures, excluding farm commodities that
are purchased directly or indirectly by other farm operations.
Food Dollar: Total annual market value
for all purchases of domestically produced food by persons
living in the U.S.
Imports: Food and non-food commodities
that are imported from international sources and are used
by U.S. food supply chain industries producing for the
U.S. market.
Industry Group: A collection of establishments
producing the same or similar output products, or subcontracting
to these establishments to support the production of output
products.
Industry Group Value Added: The compensation
charged by all establishments in an industry group to
buyers of their products for the services provided by
the industry group's primary factors of production.
Market Value: Price paid by a consumer
for the purchase of a consumer good.
Marketing Bill: The market value of
all post-farm processes of food dollar supply chain industries,
measured as the difference between food dollar expenditures
and farm share commodity sales.
Nominal Value: The dollar value of products
and/or services purchased or appraised, based on prevailing
prices at the time of purchase or appraisal.
Output Taxes: The value of excise, sales,
property, and severance taxes (less subsidies), customs
duties, and other non-tax government fees levied on establishments.
Primary Factors of Production: Assets
such as labor, machinery and equipment, physical structures,
land and other natural resources, and intellectual property,
that are employed or operated by an industry group toward
fulfilling the demand for the industry product.
Property Income: The pre-tax income
or capital gain accruing to owners of non-labor primary
factors of production.
Producer Value: Compensation received
by a producer for the sale of their products.
Real Value: The dollar value of products
and/or services purchased or appraised, based on prevailing
prices during a specific time period.
Salary and Benefits: The pre-tax employee
wages plus employer and employee costs for employee benefits.
Supply Chain Industry: Any industry
dedicating resources and/or processes towards fulfilling
the demand for a product.
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