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Agricultural products are _________.

  • Agricultural products are Heterogeneous goods.
  • Heterogeneous goods are goods that are different from one another, even if they belong to the same category.
  • Agricultural products, such as crops and livestock, are heterogeneous because each product is unique and may have different characteristics, such as size, quality, and yield.
  • This makes it difficult to standardize prices for these products, as the value of each product will depend on its specific characteristics.
  • In contrast, homogeneous goods are goods that are exactly alike and interchangeable, such as a gallon of gasoline or a pound of sugar.
  • The prices of homogeneous goods are more easily standardized, as the products are essentially the same.