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Genetically Modified Organisms

There is a governmental debate as to whether or not genetically modified organisms should be created. This prezi will look at the economic impact of genetically modified organisms.


on 24 May 2011

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Transcript of Genetically Modified Organisms

Genetically modified organisms have had profound economic impacts due to the costs affecting suppliers and demands of consumers as they both think on the margin. Suppliers Thesis: Low costs:
Crops being destroyed
increases the amount of substitute goods
High costs:
Genetically engineering crops
Lab space/resources Consumers The Economic Impact of
Genetically Modified Organisms Low demand:
skeptical views
health and environmental risks
gm foods vs. organic foods Skeptical views since GM organisms are realtively new to the market,
consumers have a lot of questions and concerns regarding the safety of these new products. Health risks What are genetically modified organisms??? an organism whose genetic material has been altered using genetic engineering techniques. These techniques, generally known as recombinant DNA technology, use DNA molecules from different sources, which are combined into one molecule to create a new set of genes. This DNA is then transferred into an organism, giving it modified or novel genes. Transgenic organisms, a subset of GMOs, are organisms which have inserted DNA that originated in a different species. devolopement of new...
antibiotic-resistant organisms Environmental hazards reduced effectiveness of pesticides
gene transfer to non-target species Yet consumer advocates are worried that patenting these new plant varieties will raise the price of seeds so high that small farmers and third world countries will not be able to afford seeds for GM crops, thus widening the gap between the wealthy and the poor. Patent concerns: Low costs Farmers no longer have to pay high prices for pesticides because many GM crops are engineered to have pesticides in them
Crops are being genetically modified so that they can combat diseases
Crops are no longer destroyed due to inclement weather and poor climate because they are engineered to be able to withstand these poor conditions
More substitute goods are available, which lowers the cost of GM foods High costs Genetically engineering crops is a process that requires a lot of equipment and scientists who know how to modify these crops. Therefore, the engineering of GM foods is not a cheap process. Monsanto The leading biotech company
Most of their profits come from Roundup Ready soybeans
SmartStax corn
Bt cotton Statistics Farmers plant more than 117 million acres of GE crops per year, just in the US
The United States is the leading country for GM food production
Other countries include Canada, Argentina, Brazil, China and South Africa
In 2005, Bt cotton planting was 52% of all farms
In 2004, 200 million acres of farms worldwide were planted with GM foods
Predictions: 15 million farmers will plant GM crops on 370 million acres of farmland worldwide AL Gay AL Ronald AL Chalkley AL Barnett LD Kallen LD Drobnik LD Ronald LD "Hardy Hybrids" LD Chalkley Video: Foods Inc. AL Barnett Economic concerns monetary interests
different climates of developing countries
concentration of GM technology in a few multinational companies
dependentcy on biotech companies AL Drobnik Video: What are GM foods?? LD AL Effects on organic farmers competition
contamination of organic crops
GM farmers must pay organic farmers AL Gay
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