Question

What do you mean by livestock? Mention their economic value.

Answer 1

Hint: Livestock is associated with domesticated animals raised in an environment, which has an agricultural setting, beneficial for the animal’s livelihood.

Complete answer:
Livestock will include the animals, which are fed and used by humans for their beneficial uses. Livestock as a word was first used between 1650 and 1660, as a compound word combining the words "live" and "stock". Generally, these animals are grown on a farm.
The animals, which are grown in livestock, are used for the production of wool, milk, fur, leather, meat, and eggs.
Animal husbandry is altogether known as the breeding, maintenance, and slaughter of animals. Animal husbandry practices vary from culture to culture and place to place. Livestock, therefore, depends on the requirement and needs. It also depends on the environmental and climatic conditions of an area.
Many methods of livestock management harm the environment. The reason is that the slaughtering and breeding of animals are not at a healthy rate. For the mass production of the livestock, more and very fast animals are grown, and then the animals are slaughtered. This describes the selfish reasons of humankind.
Broadly, livestock refers to any breed or population of animals kept by humans for a useful, commercial purpose. For example, Horse, Donkey, Hen, Pig, Cow, Goat, Buffalo, Yak etc. It depends on which region, which animal is present.

Note: Dead stock is defined in contradistinction to livestock as "animals that have died before slaughter, sometimes from illness or disease". It is illegal in many countries, such as Canada, to sell or process meat from dead animals for human consumption. Therefore, Livestock doesn't deal with dead and decayed animals.