Effect of genetically modified organism to economy

Question

Effect of genetically modified organism to economy

Answer 1

Massive!

When we genetically modify something it is done for financial advantage.

Eg Genetically modified crops that are reststant to disease wont need as much pesticide put on them.  If they are modified to be more drought resistant, they will be available for harvest when others have succumbed to the drought. Some genetically modied crops grow faster and so can be sold in larger amounts more often.

So if business is better, then the economy is stronger.  On the other hand, if you are business or country competing in a market whereyou don't have the advantage of genetic modifications, then your ecomony could suffer.  There is also the question of public demand.  If the public do not want to buy genetically modified foods, then they will pay for foods made without them, so there would be a market for this as well.