Final answer:
Parity in agriculture refers to price floors or supports, governmental measures to maintain stable farmer incomes by setting minimum prices for agricultural products to cover production costs.
Step-by-step explanation:
The concept of parity in agricultural pricing is closely related to the idea of price floors or price supports, which are mechanisms designed to ensure that farmers receive a minimum price for their products that covers their production costs. This economic policy aims to stabilize the agricultural market by preventing the prices of farm goods from falling below a certain level, thus protecting farmers' income especially in years when market prices could be significantly low. Governments implement these price supports as part of agricultural policy to maintain the economic viability of farming and ensure a stable food supply.