Genetically Modified Foods Economics Research Paper

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Geneticly-Modified Crop Economics

Genetically-Modified Crop Economics

Economic Issues: Consider production, consumption, costs, variables of supply-demand, corporations, private enterprise, impact on the nation's economy (employment, displacement, outsourcing).

Are certain industries impacted more than others?

As it relates to genetically-modified foods and crops, there are several major industries involved. Obviously, the main industry involved would be agriculture. The genetically-modified crops are used for a variety of reasons. First, the modified crops can be used to discourage or stop certain insect infestations or disease infestations in the crops. Another reason for the modifications can be to get good yield as well as large units on the crops such as larger tomatoes, more wheat and so forth. Some agencies and people in general are very leery or even hostile towards genetically modified crops and they actively resist the free flow and sale of these goods and/or they want warnings to be posted on the crops to let consumers know proactively that their crops are genetically modified (Klein, 2013).

The other main industry affected would be the retail industry as a good share of the genetically modified crops would be sold in retail and grocery outlets both in the United States and around the world. To a lesser extent, other industries impacted would be food manufacturers that use genetically modified crops as component materials or restaurants that do the same thing in the dishes they prepare and serve.

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Basically, any company that creates or uses the genetically-modified goods would be affected to some extent or another with the makers facing more impacts and challenges than the people that just use the goods (Klein, 2013).

Look up financial projections -- expectations for growth, startup companies, the stock exchange, etc. -- anything related to business and the U.S. And global economy. Who are the chief players in the business environment, and what is their role?

One major player in the United States economy, as was proven in spades during the recent "Great Recession" is the banking industry. These big banks are one of the major players that help fund the farms that buy and produce the genetically modified crops. Another big player in the business sphere are the retailers and markets that sell goods because purchase of consumer goods is eastily the majority of economic output in the United States. Another player, even if the financial impact varies quite a bit, are the public agencies at the state and federal level that heavily regulate and in many cases subsidize the agricultural industry (Klein, 2013).

How much has been invested in research and development? How will the price fluctuate?

Research and development is heavy in the agricultural industry. One major reason is that if….....

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