Food, Inc. (produced in 2009). Watch this documentary and answer the following questions.

 1. Reflect on how economics has informed your understanding of a KEY issue discussed in the film. What is the issue and how has economics helped you understand and assess the issue? Be specific. Please write in complete sentences using proper grammar, spelling, and punctuation

 2. Identify an instance of regulatory capture presented in the film. If you are unable to identify an instance, please explain a regulation that could be used to correct for a market failure presented in the film. Please write in complete sentences using proper grammar, spelling, and punctuation.

What is regulatory capture? The concept of Regulatory Capture (Reg Capture) typically refers to a phenomenon that occurs when a regulatory agency that is created to act in the public interest, instead advances the commercial or political concerns of special interest groups that dominate an industry or sector the agency is charged with regulating

3. How would you educate a friend or family member about the issue you described above. Be specific in how you would educate your friend or family member. Please write in complete sentences using proper grammar, spelling, and punctuation.

4. Using what you know about markets and economics, reflect on your responsibilities as a consumer or a business owner as you engage in the market place. A lot of students will mention that they are more aware; an underlying question, however, is how low prices may trump awareness. It is admirable to desire to buy safer or responsibly-made products, but these products typically come with higher prices. So as you think about this answer, please be mindful of the trade-offs and whether your responsibilities are permanent. Things to consider would be: supporting regulations; supporting market-based regulatory incentives such as a tax on products that are harmful. Please write in complete sentences using proper grammar, spelling, and punctuation.  

5. Many students are aware of some of the problems addressed in the film, but I am confident that we all learn something new. Identify something that you learned and how it has CHANGED your view of markets. The emphasis is on CHANGE. Be specific using stories and examples from the film. Please write in complete sentences using proper grammar, spelling, and punctuation.