Commercial Farming vs. Subsistence Farming

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Farming has contributed to communities by being a source of income and food. As stated in the Oxford Dictionary “farming is the activity or business of growing crops and raising livestock.” Different communities use different types of farming to suit their way of living. They either use commercial or subsistence farming. Commercial farming is farming that is done by companies and raising of crops and livestock for sale in outside markets. Subsistence farming is self-sufficiency farming which means farmers focus on growing enough food to feed their families. Farming has been depended on to sustain a good economy in many societies. The term economy is defined as “the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services,” in the Oxford Dictionary. There are three types of economies planned economy, mixed economy and free economy, and in The Bahamas the mixed economy is practiced. A mixed economy is an economic system that includes a mixture of capitalism and socialism. This type of economic system that includes a combination of private economic freedom and centralized economic planning and government regulation. The Bahamas is heavily dependent on the tourism, banking and construction industries. The Bahamas is mainly dependent on tourism but the tourism rates have and are declining. Tourism is the practice of traveling for recreation for business and leisure purposes. There are many different jobs that are in the tourism industry. Some are construction workers, hotel managers and other positions that are available and taxi drivers. Since the recession is global less people have travelled and visitor arrivals have fallen. This has forced businesses to close and as a result people have lost their jobs. The tourism industry has provided work for half of the Bahamian workforce. With contributions from other industries such as farming the effects of this recession can be minimized....
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