What sort of economic incongruties appeared to be established as farm prices were raised by government subsidized scarcity?

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What is scarcity in Economics?

The basic economic problem is scarcity. Resouces are limited and scarce, and in relation to this, wants are unlimited. Because of this, choices need to be made.

How many acres of government subsidized farm land is there in the US?

This question cannot be answered because the phrase "government subsidized" is too broad. We could answer either "none" or "all of the farmland" and both answers would be corr

What is subsidence farming?

Farming for your own survival- i.e not mass farming to sell on for cash, but producing enough vegetables etc for you yourself to survive. Also, it is sustenance farming, from

Is economics inrelevant in absence of scarcity?

Scarcity is a relative aspect. Consider there is 'abundant' X and also 'abundant' Y but the consumer has to decide how much Income (Income may also be considered abundant) to

Why is economic the study of scarcity and choice?

Economics is the study of Economic Activities. There would not be Economic Activities (such as buying and selling) if there wasn't a scarcity of the resources that are needed

Does economic growth overcome scarcity?

Yes and No. Yes: From the consumer perspective, when the economy growth speeds up, their purchasing power increases, thus they can afford to buy a plentiful amount of go
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How much does the USA subsidize farming?

Introduced in 1930, farm subsides were paid out to farmers by the US federal government. There payments are in the form of credit or cash and helps supplement their income.