agriculture increasingly has become an "agribusiness," a term created to reflect the big, corporate nature of many farm enterprises in the modern U.S. economy. Agribusiness includes a variety of farm businesses and structures, from small, one-family corporations to huge conglomerates or multinational firms that own large tracts of land or that produce goods and materials used by farmers. The advent of agribusiness in the late 20th century has meant fewer but much larger farms. Sometimes owned by absentee stockholders, these corporate farms use more machinery and far fewer farm hands. In 1940, there were 6 million farms averaging 67 hectares each. By the late 1990s, there were only about 2.2 million farms averaging 190 hectares in size.