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7 terms

Technological progress

A process of coming up with better technologies for producing goods and services. Refers to the extent to which farmers and other food system or sub‐sector participants adapt improved technical, management, and institutional innovations which enhance productivity and profitability. In the marketing channel, this could involve improvements in storage, packaging, and reduction in post‐harvest loses.

Teleconnections

The concept of interrelated climate conditions that cross long distances.

Temperature gradient

A temperature gradient (e.g., sea surface temperature) is a quantity that describes in which direction and at what rate the temperature changes the most rapidly around a particular location. The temperature gradient is expressed in units of degrees (on a particular temperature scale) per unit length.

Temporal arbitrage

See Seasonal Arbitrage.

Temporal variability

Changes in climate over time. Temporal variability indicates changes in values over time and can include changes in the mean (i.e., trend) or the range. Changes between years are referred to as inter-annual variability, and changes within a season are intra-annual variability.

Terms of trade (ToT)

The rate at which one good or service can be exchanged for another and is typically expressed as a ratio.

Transaction costs

The costs associated with conducting a transaction. This includes all time, effort, and cash expenses other than an item’s price, such as gathering information about the market and market opportunities, enforcing agreements, formal and informal commissions and fees, and physically moving the product from seller to buyer.