708 B
708 B
Instruments of Husbandry
Definition
The tools, equipment, and machinery used in agricultural production, including ploughs, harrows, and other implements necessary for farming operations. These represent fixed capital investments in agriculture.
Source Chapter
Book I, Chapter 6
Context
Discussed as part of the farmer's stock that must be maintained and replaced through the revenue generated by agricultural production. Smith explains how the price of agricultural products must cover the cost of maintaining these instruments.
Economic Domain
Production