Advances in technology have mostly led to the radical redefinition of "family farms" in industrialized countries such as Australia, New Zealand, and the United States. With farms of hundreds of cows producing large volumes of milk, the larger and more efficient dairy farms are more able to weather severe changes in milk price and operate profitably, while "traditional" family farms generally do not have the equity or income other larger scale farms do. The common public perception of large corporate farms supplanting smaller ones is generally a misconception, as many small family farms expand to take advantage of economies of scale, and incorporate the business to limit the legal liabilities of the owners and simplify such things as tax management.