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TeachMeFinance.com - explain Gross farm income Gross farm income The term 'Gross farm income ' as it applies to the area of agriculture can be defined as ' The monetary and non-monetary income received by farm operators. Its main components include cash receipts from the sale of farm products, government payments, other farm income (such as income from custom work), value of food and fuel produced and consumed on the same farm, rental value of farm dwellings, and change in value of year-end inventories of crops and livestock'. Previous 5 Terms: Gross Domestic Product Gross domestic product (GDP) Gross domestic product (GDP) Gross domestic product (GDP) implicit price deflator Gross energy intensity Next 5 Terms: Gross gas withdrawal Gross generation Gross head Gross input to atmospheric crude oil distillation units Gross inputs About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.