Food production is a small part of the U.S. and other advanced economies and a large part

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Food production is a small part of the U.S. and other advanced economies and a large part of the developing economies such as Brazil, China, and India. But the advanced economies produce about one third of the world’s food. How can this be? Total production is much larger in the advanced economies than in the developing economies, but a small percentage of a big number can be a greater amount than a large percentage of a small number!

Some Similarities in What Is Produced

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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