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Author Question: What is the technological treadmill, and why has this proven to be a challenge for farmers in ... (Read 50 times)

sjones

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on: Aug 7, 2018
What is the technological treadmill, and why has this proven to be a challenge for farmers in marginal areas in the North American heartland during the past two and a half decades or so?
 
  What will be an ideal response?

Question 2

What are at least three examples of types of economic production in the primary sector of the North American economy?
 
  What will be an ideal response?


huda

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Reply #1 on: Aug 7, 2018
Answer to Question 1

Farmers are always trying to increase their yields per acre or decrease their costs per acre in order to increase their profits. They do this through technological innovation. However, increasing yields result in larger and larger supplies of crops, which depresses prices. As prices drop, farmers are forced by falling profits to invest in new innovations. The technological treadmill has resulted in higher and higher yields per acre and larger farm sizes, while forcing less successful farmers into bankruptcy.

Answer to Question 2

The primary sector includes industries involved in extractive resources from the natural environment. Examples of primary sector industries include farming, ranching, mining, logging, and fishing.


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