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Glossary

Key concepts and terms in the new and expanded food dollar series:

The new and expanded food dollar series uses different source data and different estimation methods than the marketing bill series that it replaces.

Farm Share: Producer value of total annual farm commodity sales that are linked to annual food dollar expenditures, excluding farm commodities that are purchased directly or indirectly by other farm operations.

Food Dollar: Total annual market value for all purchases of domestically produced food by persons living in the U.S.

Imports: Food and non-food commodities that are imported from international sources and are used by U.S. food supply chain industries producing for the U.S. market.

Industry Group: A collection of establishments producing the same or similar output products, or subcontracting to these establishments to support the production of output products.

Industry Group Value Added: The compensation charged by all establishments in an industry group to buyers of their products for the services provided by the industry group's primary factors of production.

Market Value: Price paid by a consumer for the purchase of a consumer good.

Marketing Bill: The market value of all post-farm processes of food dollar supply chain industries, measured as the difference between food dollar expenditures and farm share commodity sales.

Nominal Value: The dollar value of products and/or services purchased or appraised, based on prevailing prices at the time of purchase or appraisal.

Output Taxes: The value of excise, sales, property, and severance taxes (less subsidies), customs duties, and other non-tax government fees levied on establishments.

Primary Factors of Production: Assets such as labor, machinery and equipment, physical structures, land and other natural resources, and intellectual property, that are employed or operated by an industry group toward fulfilling the demand for the industry product.

Property Income: The pre-tax income or capital gain accruing to owners of non-labor primary factors of production.

Producer Value: Compensation received by a producer for the sale of their products.

Real Value: The dollar value of products and/or services purchased or appraised, based on prevailing pricesduring a specific time period.

Salary and Benefits: The pre-tax employee wages plus employer and employee costs for employee benefits.

Supply Chain Industry: Any industry dedicating resources and/or processes towards fulfilling the demand for a product.

Value Added: For establishments contributing to the U.S. food supply, value added for an establishment equals the proceeds from the sale of outputs minus the outlays for commodities purchased from other establishments. The sum of value added by all establishments that contribute to total food dollar purchases equals $1. The industry group and primary factor component series are based on this value added concept.

Last updated: Tuesday, March 05, 2013

For more information contact: Patrick Canning

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