Question

Describe and provide current examples of basic economic terms and theory/theories involved with farming. How is farming impacted by government and natural disasters?

Answer 1

1. Due to natural disasters, farming is impacted by the loss of livestock, water bodies contamination, increase in percentage of chances to diseases, destruction of all systems of irrigation and other farming infrastructure.

2. Government schemes and policy affect the production of farmers. Subsidizing the farming can largely influence the production level. Low-interest loans and by guaranteeing the price will raise the level of production of farming.

3. The more subsidies the government provides, the more a farmer spends on fertilizers sometimes causes eutrophication which pollutes water bodies by depletion of oxygen levels and so does the environment. So, a balance should be maintained in providing economic inputs for farming and support during the natural disasters.