Food for Peace: A program that provides for the disposition of U.S. farm products outside the United States. 116

Free enterprise system: An economic system characterized by private ownership of property and productive resources, the profit motive to stimulate production, competition to ensure efficiency, and the forces of supply and demand to direct the production and distribution of goods and services.

Free trade: The absence of tariffs and regulations designed to curtail or prevent trade among nations.

Fringe benefit: An indirect, non-cash benefit provided to employees by employers in addition to regular wage or salary compensation, such as health insurance, life insurance, profit-sharing, and the like.

Futures: Contracts that require delivery of a commodity of specified quality and quantity, at a specified price, on a specified future date.