The agriculture industry includes both farm commodities and food products. Farm commodities are usually sold in

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Farm commodities, such as grains and livestock, are often sold in highly competitive commodity markets where there are many buyers and sellers and prices are determined by supply and demand. Food products, on the other hand, are often differentiated by brand and are sold in monopolistically competitive or oligopolistic markets where a few large firms dominate the market. For example, the cereal industry is dominated by a few large companies, such as Kellogg's and General Mills, which can differentiate their products through branding and marketing.

The Agriculture Industry Includes Both Farm Commodities and Food Products