Alright folks, let's dive into the world of farming, specifically peasant farming! Now, don't let the term 'peasant' fool you, this isn't about people in medieval times tilling the lands of their feudal lords. Nope, in the 21st century, peasant farming refers to small-scale farming for subsistence. That's right, it's all about farmers growing crops and raising livestock mainly for their own consumption, and not for the global market. So, in short, peasant farming is like your backyard hobby, but on a slightly larger scale and with a crucial element - it's their livelihood, not just a Sunday pastime!