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TeachMeFinance.com - explain Common Agricultural Policy (CAP) Common Agricultural Policy (CAP) The term 'Common Agricultural Policy (CAP) ' as it applies to the area of agriculture can be defined as ' The set of legislation and practices jointly adopted by the nations of the European Union (EU) in order to provide a common, unified policy framework for agriculture. Its stated purposes are to increase farm productivity, stabilize markets, ensure a fair standard of living for farmers, guarantee regular supplies, and ensure reasonable prices for consumers. The CAP rests upon four basic principles: common import restrictions, common financing, common pricing, and common treatment of surpluses'. Previous 5 Terms: Commodity letters of credit (CLOC) Commodity loan rates Commodity programs Commodity promotion programs Commodity Supplemental Food Program (CSFP) Next 5 Terms: common algorithm common carrier common denominator Common equity (book value) Common excavation About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.