North Carolina Agriculture: Key Facts, Crop & Livestock Data, and Economic Trends

What rank does North Carolina hold in the nation for Christmas trees?

3rd.

What type of Christmas tree is most commonly grown in North Carolina?

Fraser Firs.

How many years can it take to raise a single Christmas tree from a seed?

15 years.

How many tree farms are there in North Carolina?

Over 800.

What was the percentage change in the average size of North Carolina farms from 2017 to 2022?

5 percent.

What was the percentage change in net cash farm income in North Carolina from 2017 to 2022?

57 percent.

What was the percentage change in total government payments in North Carolina from 2017 to 2022?

53 percent.

What percentage of farms in North Carolina have a value of sales less than $10,000?

More than half.

Do most farms in North Carolina have more than 1,000 acres?

False.

What percentage of sales in North Carolina are attributed to livestock, poultry, and products?

75 percent.

What does North Carolina rank number one in for sales value?

Tobacco and poultry and eggs.

What contributes most to livestock, poultry, and products sales in North Carolina?

Poultry and eggs.

What contributes most to crop sales in North Carolina?

Grains, oilseeds, dry beans, dry peas.

Which county has the most land in farms in North Carolina?

Sampson County.

What age group do most farm producers in North Carolina belong to?

Between 35 and 64 years old.

What percentage of farms in North Carolina hire farm labor?

24 percent.

Which crop has the most planted acres in North Carolina?

Soybeans for beans.

Which livestock has the highest inventory in North Carolina?

Broilers and other meat-type chickens.

Is the U.S. the world's largest agricultural trader?

False; it is the EU.

Do U.S. farmers rely on export markets to sustain prices and revenues?

True.

Since when have exports of dairy, meats, fruit, and vegetables increased?

Since 1995.

Did the North American Free Trade Agreement (NAFTA) replace the United States-Mexico-Canada Agreement (USMCA) in July 2020?

False.

What type of products comprised half of U.S. agricultural imports in 2024?

Horticulture.

Which category accounted for the largest average value share of imports in U.S. consumption between 2013 and 2022?

Fruits and tree nuts.

What was the primary reason for the significant increase in egg prices starting in early 2022?

A widespread outbreak of avian influenza (bird flu).

What impact did the avian influenza outbreak have on the supply of eggs?

It reduced the supply, leading to higher prices.

What specific regulation in California contributed to the higher price of eggs?

Requirements that only cage-free eggs can be sold.

Which factor is NOT mentioned as a contributor to the volatility of egg prices?

Fluctuations in consumer demand.

What is one primary reason North Carolina's agricultural sector is vulnerable to immigration raids?

It relies heavily on foreign-born seasonal labor.

What concern do farmers have regarding the H-2A visa program?

It restricts workers to a 9-month period, creating labor gaps.

What inference can be made about the role of immigrant labor in North Carolina's economy beyond agriculture?

Several other industries rely heavily on immigrant labor.

Why might mass workplace immigration raids be particularly disruptive to businesses in North Carolina?

Businesses depend on immigrant labor to remain operational.

What is the overarching economic argument regarding immigration as presented in the article?

Immigration is vital for labor-intensive industries and economic growth.

What are reasons that explain why the division of labor increases an economy's level of production?

Specialization, workers learn to be more efficient, and businesses take advantage of economies of scale.

True or False: Macroeconomics focuses on individual actors within an economy.

False.

Which are ways that society can organize themselves economically?

Command economy, market economy, and a mixture of market and command economy.

True or False: Globalization allows small economies to take fuller advantage of the division of labor.

True.

What is a true statement regarding the relationship between division of labor, specialization, and trade?

Division of labor, specialization, and trade results in a net gain in production rather than a net loss.

How does specialization benefit individuals in trade?

By specializing on what they do best, individuals can maximize production and income and trade for other goods.

What happens without trade in relation to specialization?

Individuals must produce all goods and services they want to consume, preventing specialization.

What happens to individual production without trade?

Each individual must produce all the goods and services they want, preventing specialization and the benefits that come with it.

How does trade benefit individuals?

By specializing in what they do best, individuals can maximize production and income, trading for other goods they want.

What is the result of division of labor, specialization, and trade?

It results in a net gain in production rather than a net loss.

What are some negative effects of trade?

Some people may lose jobs due to competition from foreign producers.

How do consumers benefit from trade?

Consumers benefit from a more diverse set of goods and cheaper goods made available through trade.

What is the 'invisible hand' in economics?

It refers to the concept where individual choices that benefit oneself also help others.

What do economists assume about individual choices?

Economists assume that everyone makes choices based on their own self-interests.

What is economics fundamentally the study of?

Economics is essentially the study of scarcity and choices.

What is an efficient distribution of apples in a hypothetical economy with ten apples and ten people?

An efficient distribution would be for each person to receive one apple.

What are examples of scarce goods?

Labor and money are examples of scarce goods.

What is the opportunity cost of attending class if alternatives include work, sleep, and gym?

The opportunity cost is going to work.

When should you specialize in a task?

You should specialize in something in which you have a low opportunity cost.

What does it mean if a seller has an incentive to lower their price?

It indicates that the current price is not an equilibrium price.

What is the role of government intervention when markets fail?

Economists believe government intervention can improve society's welfare.

How is water scarcity defined?

Water scarcity describes a situation where the supply of water is finite and cannot satisfy all of society's potential uses.

Why did Matt Riggs and his family seek additional income beyond farming?

They needed additional income due to the volatility of the corn and soybean markets.

What motivated Matt Riggs to consider solar panels for his farm?

He viewed solar energy as a stable and predictable income source.

What is the opportunity cost for farmers leasing land for solar panels?

The opportunity cost is the potential profit from growing high-demand crops.

What is the opportunity cost in the context of using land for solar panels versus traditional farming?

The opportunity cost is the potential income forgone by not using the land for its traditional agricultural purpose.

What factors influence a farmer's decision to choose solar panels over traditional farming?

Farmers like Riggs would choose solar panels if the opportunity cost of using the land for solar panels is lower than the opportunity cost of continuing to farm.

What does opportunity cost refer to?

Opportunity cost refers to the value of the next best alternative that is forgone when a decision is made.

What economic concept is highlighted as influencing farmers' decisions regarding land use?

The scarcity of land and resources, combined with the opportunity cost of traditional farming, forces farmers to explore alternative income streams like solar panels.

Which group is most supportive of trade according to the article?

Economists

What does the belief that international trade operates as a zero-sum game imply?

It implies that one country gains while the other country loses.

What do economists find about the net benefits of trade?

The benefits outweigh the costs.

What is one benefit of trade for consumers mentioned in the article?

Lower prices for domestic goods.

How does the article demonstrate the concept of comparative advantage?

It states that people prefer to buy imported goods because producers can produce these goods at a lower cost than domestic producers.

What is one way that trade benefits developing economies?

Increased access to physical capital.

What policy solution does the article suggest to address the costs of trade for displaced workers?

Providing job-skills training programs.

What economic concept explains why buyers and sellers trade?

Buyers and sellers trade because both parties are better off.

Who are considered the third-party losers in international trade?

Domestic companies that cannot compete.

What does the Patel family's switch from cotton to potatoes illustrate in economic terms?

Opportunity cost and resource reallocation.

What is the trade-off mentioned regarding crops like corn under solar panels?

Some crops may not grow well under solar panels, indicating a trade-off between traditional farming and solar energy.

What is the main economic concept driving farmers to consider alternative income streams?

The need to make efficient use of limited land resources due to the scarcity of stable income from farming.

What does the opportunity cost of using land for solar panels entail?

It entails the profit forgone from not farming.

What is the significance of opportunity cost in Riggs's decision-making process?

It helps determine which option provides the best financial stability given the circumstances.

What does the article suggest about the relationship between trade and economic growth?

Trade can lead to economic growth and a rising standard of living.

What is the implication of the opportunity cost of farming compared to solar panels?

The opportunity cost of farming may be higher than using the land for solar panels.

What does the article indicate about the impact of trade on domestic industries?

Trade can create winners and losers, particularly affecting domestic industries that cannot compete.

What is the role of comparative advantage in international trade?

It determines which countries should produce certain goods based on their ability to produce them at a lower opportunity cost.

What does opportunity cost refer to in economics?

The cost of forgoing the next best alternative when making a decision.

What is resource reallocation?

The process of shifting resources, such as land and labor, from one use to another.

What economic principle is demonstrated by India's rise as a leading exporter of frozen fries?

Comparative advantage, due to its abundant agricultural produce and cost-effective manufacturing.

What limits India's ability to fully realize gains from trade in frozen foods?

Inadequate cold storage and logistics infrastructure.

What is one benefit of switching from flood irrigation to drip irrigation systems?

Increases resource efficiency, allowing more potatoes to be produced with the same amount of water and land.

What impact does new technology and better seeds have on potato production?

It can lead to an outward shift of the Production Possibility Frontier (PPF) curve.

What is the effect of a decrease in the price of a good on quantity demanded?

It results in an increase in the quantity demanded.

If the demand for tires decreases when the price of gas increases, what relationship do tires and gas have?

They are complements.

How is a change in quantity demanded different from a change in demand?

A change in quantity demanded is a movement along the demand curve, while a change in demand is a shift in the demand curve.

What causes an ambiguous change in price and a decrease in quantity?

A shift to the left in supply and a shift to the left in demand.

What happens to the demand for beef if chicken prices fall and they are substitutes?

There will be a decrease in the demand for beef.

Which of the following is NOT a determinant of supply?

Consumer tastes.

What is directly impacted by bird flu?

The supply of chicken and eggs.

What is the likely result of an announcement that smoking harms cognitive function?

A decrease in the demand for cigarettes.

What would cause an increase in the demand for natural gas?

An increase in consumer incomes.

What effect does a discount coupon from a competitor have on the demand for meals at Applebee's?

It shifts the demand to the left.

What characterizes a normal good in relation to income changes?

When income increases, the demand for the good also increases.

What happens to the quantity of eggs demanded when the price of eggs decreases?

The quantity of eggs demanded increases.

Which factor does NOT shift the demand curve for thin-crust pizza?

The price of thin-crust pizza.

What happens to the supply of beef and the demand for pork when the price of corn decreases?

The supply of beef increases and the demand for pork decreases.