TeachMeFinance.com - explain Common Agricultural Policy (CAP)
Common Agricultural Policy (CAP) The term 'Common Agricultural Policy (CAP) ' as it applies to the area of agriculture can be defined as ' The set of legislation and practices jointly adopted by the nations of the European Union (EU) in order to provide a common, unified policy framework for agriculture. Its stated purposes are to increase farm productivity, stabilize markets, ensure a fair standard of living for farmers, guarantee regular supplies, and ensure reasonable prices for consumers. The CAP rests upon four basic principles: common import restrictions, common financing, common pricing, and common treatment of surpluses'.
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