Economics of Palampur Village

A type of farming that uses modern technologies like high-yielding seeds, chemical fertilizers, and pesticides to increase crop production.

Seeds that are specially bred to produce a higher yield of crops compared to traditional varieties.

The process of providing water to crops, often through artificial means like canals, tubewells, or tanks.

Chemicals used to nourish the soil and provide essential nutrients to plants for growth.

Substances used to control pests that can damage crops and reduce yield.

The amount of crops produced per unit of land, typically measured in kilograms per hectare.

The use of multiple crops in a single growing season to maximize land use and production.

The practice of cultivating the land for agricultural purposes.

The amount of money needed for day-to-day farming activities, like buying seeds, fertilizers and paying labor.

A person who owns and cultivates a small plot of land often struggling to make ends meet.

The amount of money charged by a lender for borrowing money, often high for farmers with limited resources.

A person who owns and cultivates a large amount of land, often with surplus produce for sale.

The practice of investing in land, technology and other assets to increase productivity and profitability.

Land used for agricultural purposes, a crucial resource in farming.

The practice of lending money to others, often with the expectation of earning interest.

Farming is a specific type of economic activity that involves raising crops and livestock on a specific piece of land.

Capital is a man-made factor of production used in various activities, including farming. It's something that can be increased, like tools or tractors.

Land is a natural resource essential for farming, but it's fixed in quantity. It represents the physical space where production occurs.

When farmers produce more than their family needs, they sell the extra portion of what they've grown. This surplus helps them make money and meet other needs.

Small farmers, who produce less, often keep most of their produce for their own family's use. They have less surplus to sell.

Large and medium farmers typically have more produce than they need. They can sell the surplus, use their earnings to buy more capital, and even invest in non-farm activities.

Dairy farming is a common activity in Palampur, involving raising animals like cows to produce milk, cheese, and other dairy products.

In Palampur, 25% of the population works in non-agricultural activities, suggesting that there are other ways to earn a living besides farming in this village.

Manufacturing carried out on a small scale, typically at home or in the fields, using simple tools and family labor.

The process of transforming raw materials into finished products using machinery and labor.

A type of business set up to provide computer education to students in a village.

The resources and assets used to start and run a business, including money, machines, and buildings.

The people who work to produce goods or services.

The process of crushing sugarcane to extract juice, which is then used to make jaggery.

A semi-solid sweetener made from sugarcane juice.

The profit made from selling goods or services.

The practice of using the surplus production from one year as capital for the next year's production, aiming to increase future yields.

When the surplus production is not enough or there is no surplus at all, the farmer will face difficulty in continuing production.

The amount of crop kept aside for the farmer's family's own consumption.

The total crops harvested by a farmer during a year.

The difference between the total crop production and the farmer's family's consumption.

To keep production going and improve yields, farmers might need to borrow money, buy new equipment, or find other ways to increase their capital.

Using a portion of the surplus from the current year's harvest to invest in the next year's production, aiming to increase the overall yield.

The cost of the factors of production that remain constant and that a business must pay for regardless of how much it produces.

The money needed to buy inputs for production that are used up and need to be replenished regularly.

Mishrilal is unable to increase his profits because he lacks access to markets that would offer him better prices for his jaggery.

If Mishrilal faces a loss, this could be due to a decrease in demand for jaggery, a rise in the cost of production, or a change in consumer preferences.

The number of people working in the transport sector has increased as the demand for transport services has also grown.

Kishora took a loan to buy a buffalo, which he uses to generate income by selling milk and providing transport services. This is an example of self-employment.

The government programme offers cheap loans to poor and landless households, helping them invest in businesses and improve their financial situation.

The development of transport infrastructure and the availability of loans can create opportunities for people like Kishora to start businesses and improve their livelihoods.