Uncertainty in Agriculture: 4 Types
The following points highlight the four main types of uncertainties experienced in agriculture. The types are: 1. Yield uncertainty 2. Price Uncertainty 3. Tenurial Uncertainty 4. Uncertainty with regard to Input Prices/Quality. Type # 1. Yield Uncertainty: In-spite of technical progress, crop yields is still very much dependent on natural factors and hence are highly uncertain. Modern livestock husbandry is [...]