Question

it 1 Micro Quiz (Ch 1 & 3) Assignment: Unit 1 Micro Quiz (Ch 1 & 3) Time Remaining: 1:18:14 Assignment Score: 0.009 Save Submit Assignment for Grading Questions 073.01.3 - MC - MANKOS Question 7 of 13 5. It once took 90 percent of our population to grow our food. It now takes only 3 percent of the population to grow our food. Which of the following statements is true? a. This loss of jobs has been detrimental to our economy b. The government should provide subsidies to encourage more people to become farmers. 8. 9. 10. 11. 12 13. O O O O o o c. The reduction in the number of farmers explains the increase in the price of food. d. This is progress because freed-up labor is used to produce other goods

Answer 1

The above mentioned case is explained below. When the world population was fully technologically lagging behind, most of them used to reside in rural areas where basically farming is the main source of income. But with the passage of time, with the advancement of technology, farming has only become a rural business while most part of the rural population too move to the urban areas for education as well as for growth and better living. By moving to the urban areas, they get an opportunity to shift from the production of agricultural products to industrial products and add to the industrial labour force. This would help industries of various sectors to grow as scarcity of labour would be reduced. This would be helpful for the nation's economy too and thus, we can say this is progress because freed-up labour is used to produce other goods.