Farm Subsidies Assignment Example | Topics and Well Written Essays - 250 words

Farm Subsidies - Assignment Example Farm subsidies should be phased out to accommodate contemporary trends in agriculture. Resources directed to farm subsidies could be invested in more productive projects that lack complementary alternatives. There are numerous alternatives in acquiring farm produce in the event that local farmers fail to meet local demand. An outstanding alternative is importation of farm produce. Prices of imported farm produce are relatively low due to absolute or comparative advantages enjoyed by the source of exports. In the contemporary times, every aspect of production has become oriented towards international interdependence. Supplying products and services at the minimum cost possible is the primary objective that any given business entity seeks to achieve. This is more so due to the fact that business enterprises operate under a profit motive. Even with farm subsidies eliminated, product supply in the markets can still remain constant or even increase through agricultural businesses (Miller & Spoolman, 2011). Therefore, farm subsidies should be phased