ECON- module 3 discussion
In order to receive full credit for this discussion, you need to post (1) an answer of at least 100 words that answers the following questions, and (2) at least one brief response to a comment on this discussion board posted by another student. My goal is for us to evaluate how the supply and demand model applies to real world.
Organic food is grown without synthetic pesticides, chemical fertilizers or genetically modified seeds. In recent decades, the demand for organic products has increased dramatically. The Organic Trade Association reported sales increased from $1 billion in 1990 to $31.5 billion in 2011, more than 90% of which were sales of food products.
Why, then, are organic foods more expensive than their conventional counterparts? The answer could be an application of the supply and demand model. Describe in your own words what factors have affected and will continue to affect the demand and supply for organic foods? Describe any shifts, and make any predictions of what might happen to the prices of organic foods in the future.
Please change the title of your response to reflect the main idea in the sentences that you post.
