A plantation is a long, artificially-established forest, farm or estate, where crops are grown for sale, often in distant markets rather than for local on-site consumption. The term plantation is informal and not precisely defined. Crops grown on plantations include fast-growing trees (often conifers), cotton, coffee, tobacco, sugar cane, sisal, some oil seeds (notably oil palms) and rubber trees. Farms that produce alfalfa, Lespedeza, clover, and other forage crops are usually not called plantations. The term "plantation" has usually not included large orchards (except for banana plantations), but does include the planting of trees for lumber. A plantation is always a monoculture over a large area and does not include extensive naturally occurring stands of plants that have economic value. Because of its large size, a plantation takes advantage of economies of scale. Protectionist policies and natural comparative advantage have contributed to determining where plantations have been located. Among the earliest examples of plantations were the latifundia of the Roman Empire, which produced large quantities of wine and olive oil for export. Plantation agriculture grew rapidly with the increase in international trade and the development of a worldwide economy that followed the expansion of European colonial empires. Like every economic activity, it has changed over time. Earlier forms of plantation agriculture were associated with large disparities of wealth and income, foreign ownership and political influence, and exploitative social systems such as indentured labor and slavery. The history of the environmental, social and economic issues relating to plantation agriculture are covered in articles that focus on those subjects. An estate comprises the houses and outbuildings and supporting farmland and woods that surround the gardens and grounds of a very large property, such as a country house or mansion. It is the modern term for a manor, but lacks the latter's now abolished jurisdictional authority. It is an "estate" because the profits from its produce and rents are sufficient to support th

household in the house at its center, formerly known as the manor house. Thus "the estate" may refer to all other cottages and villages in the same ownership as the mansion itself, covering more than one former manor. An example of such great estates are Woburn Abbey in Bedfordshire, England, and Blenheim Palace, Oxfordshire built to replace the former manor house of Woodstock. "Estate", with its "stately home" connotations, has been a natural candidate for inflationary usage during the 20th century. An estate properly so-called should comprise several farms, and is not well used to describe a single farm. In economics, the law of comparative advantage refers to the ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another. Even if one country is more efficient in the production of all goods (absolute advantage in all goods) than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies.[1][2][3] For example, if, using machinery, a worker in one country can produce both shoes and shirts at 6 per hour, and a worker in a country with less machinery can produce either 2 shoes or 4 shirts in an hour, each country can gain from trade because their internal trade-offs between shoes and shirts are different. The less-efficient country has a comparative advantage in shirts, so it finds it more efficient to produce shirts and trade them to the more-efficient country for shoes. Without trade, its opportunity cost per shoe was 2 shirts; by trading, its cost per shoe can reduce to as low as 1 shirt depending on how much trade occurs (since the more-efficient country has a 1:1 trade-off). The more-efficient country has a comparative advantage in shoes, so it can gain in efficiency by moving some workers from shirt-production to shoe-production and trading some shoes for shirts. Without trade, its cost to make a shirt was 1 shoe; by trading, its cost per shirt can go as low as 1/2 shoe depending on how much trade occurs. The net benefits to each country are called the gains from trade.