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Proposition: You are a farmer trying to decide which crops to grow next year. Outline in...

Proposition: You are a farmer trying to decide which crops to grow next year. Outline in general terms the best signals you would use in determining this and justify your conclusions with material from this week’s learning resources and/or from articles in the Cleary library. Be prepared to share your views with peers.

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Answer #1

The best signals that would be used in determining which crops to grow next year are :

  • Maximum Demand of which crop in the market (This would help in determining the people's taste and preferences towards a crop)
  • Productivity level of the soil and the suitability of the soil for a particular crop (This would help in finding whether the land and soil is suitable for growing a crop)
  • Maximum profit earned by growing which crop (This would help in determining the maximum profit earned by the farmer by growing a particular crop)
  • Past sales record of the various crops ( Past sales record would give an idea of the inclination of people towards various crops)
  • Suitability of the weather conditions and availability of the labor and water resources for growing the crop. ( To find out whether it is feasible to grow the crop)
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