Here is the essay question:
Question 4:
A hay farmer is approached by an environmental group with a plan to save fish in the nearby river. The environmentalists will pay him for all the hay he planned to grow if the framer agrees not to use water from the river to irrigate his hay crop.
Does the framer have a choice?
Explain your answer,using the concept of scarcity, choice, and alternatives.
Format:
Alternatives / Possible Costs / Possible Costs
2007-09-17 12:40:58 · 4 answers · asked by Mr. Monkey 1 in Education & Reference ➔ Homework Help
Format:
Alternatives / Possible Costs / Possible Benefits
2007-09-17 14:28:54 · update #1
Given a free-market economy, the farmer also has a choice.
In this example, both the hay and the river water are scarce commodities. The farmer's alternatives include selling the hay, accepting the buyout from the environmental group, and harvesting the hay to feed his own livestock.
Possible costs depend on his economic decision. For example, if he accepts the buyout, he can't sell the hay crop or use it to feed his own animals. Of course, he can still graze his animals among the hay.
Cheers,
Bruce
2007-09-24 17:17:48 · answer #1 · answered by Bruce 7 · 0⤊ 0⤋
Sorry for being flippant, but I would escort them off my property at point of my shotgun. Neither the environmental group nor the fish can guarantee me long term success or failure. Can they pay me for all the hay that I plan to grow forever? NO Does the framer have a choice? Yes, the farmer has a choice. Take a perceived “easy way out” now for short term gain, or accept the consequences of hard work and potential gains.
2016-05-17 08:23:17 · answer #2 · answered by ? 3 · 0⤊ 0⤋
take a look:
http://www.ielts-exam.net/index.php?option=com_content&task=category§ionid=7&id=20&Itemid=32
2007-09-21 09:11:14 · answer #3 · answered by Anonymous · 0⤊ 1⤋
TRY SPELLING FARMER, CORRECTLY!!!
2007-09-25 12:22:34 · answer #4 · answered by ? 1 · 0⤊ 1⤋