You Are Hired to Implement a Plan to Increase Food

question 9

Multiple Choice

You are hired to implement a plan to increase food production. Which plan would you implement when you consider risk?

• A) Encourage agricultural farmers to increase production by using more pesticides so they can grow more food without the pests affecting the crops.
• B) Hire biotechnology scientists to find ways to grow crops in ways that will increase food production even if we are uncertain about the effects of the crops grown in this way.
• C) Hire sociologists to study populations and then get medical professionals to educate the populations on limiting the number of children they have.
• D) Gather medical, agricultural, and biotech professionals and environmental scientists to devise a plan to grow more food crops.
• E) All of the above

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Definitions:

Midpoint Method

A technique used in economics to calculate the elasticity of demand or supply by averaging the start and end points of a range.

Drug Interdiction

The policy or practice of preventing the importation, trafficking, and use of illegal drugs by enforcement or military means.

Supply Curve

A visual chart illustrating the connection between a product's price and the amount of the product that sellers are ready to manufacture and offer for sale.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, indicative of the flexibility of producers.