Answer to Question #209213 in Microeconomics for rimsha

Question

Food monopolies are destroying climate and agro-economy in the global South.

Answer 1

There is very little or no subsidization of smaller farms, and monopolies in the food industry have too much or too little power; this is a big problem because it drives up grocery store prices to such a high degree that the inaccessibility of healthy foods contributes to the so-called obesity epidemic. As a result, the government must enforce anti-monopoly laws.

Monopolization of food industries across economies is one of the root causes of all social and economic problems that have persisted for years and have been a roadblock to the nation's progress, as this monopolization has contributed to everything from wage increases to entrepreneurship, political polarization reduction, and power and corruption reduction in political fields.