Parity

{
  "id": "MLC-T-IND-004143",
  "term": "Parity",
  "field": "Industrial and trades",
  "definition": "A concept in agricultural economics referring to a state of equivalent purchasing power for agricultural products compared to a base period. It aims to provide farmers with a fair return for their labor and investment by maintaining a stable relationship between the prices farmers receive and the prices they pay for goods and services. The Agricultural Adjustment Act of 1933 first established the concept of parity prices in the United States.",
  "subject": "Agricultural equipment",
  "translations": {
    "de": "Parität",
    "es": "paridad",
    "fr": "parité"
  },
  "url": "https://mlchart.com/terminology/industrial/parity/"
}