A hacienda is an estate, similar to a Roman latifundium, in Spain and the former Spanish Empire. With origins in Andalusia, haciendas were variously plantations, mines or factories, with many haciendas combining these activities. The word is derived from Spanish hacer and haciendo (making), referring to productive business enterprises.

A ranch is an area of land, including various structures, given primarily to ranching, the practice of raising grazing livestock such as cattle and sheep. It is a subtype of farm. These terms are most often applied to livestock-raising operations in Mexico, the Western United States and Western Canada, though there are ranches in other areas. People who own or operate a ranch are called ranchers, cattlemen, or stockgrowers. Ranching is also a method used to raise less common livestock such as horses, elk, American bison, ostrich, emu, and alpaca.