tag:blogger.com,1999:blog-746324505322049940.post3854954794286293812..comments2024-03-22T07:58:59.646-06:00Comments on Pewaukee Economics & Finance : Economic Benefits of Raising Backyard ChickensMrs. Straubhttp://www.blogger.com/profile/14927083996757427841noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-746324505322049940.post-19066682569805335702017-03-30T10:38:57.631-06:002017-03-30T10:38:57.631-06:00It was interesting to hear about all of the benefi...It was interesting to hear about all of the benefits of raising chickens, but its hard to star a flock if your city doesn't allow you to have backyard chickens. I feel that more cities should allow families to have backyard chickens. But with this comes change in supply in demand curves. If more families start hobby farms it will be a change in tastes of consumers because they will like having eggs at home instead of going to the store to buy some. This causes a shift left in the demand curve. With this new equilibrium comes less eggs supplied by producers for a higher price. This might cause consumers of store bought eggs to buy less. Although this event would not happen if there were very few backyard chickens, but if this number increases a lot it will effect the larger market and farms. Backyard and hobby farms are great for a small number of people and give great positive externalities for locals but the market for store bought eggs might diminish if the market for backyard chickens grows throughout the country.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-746324505322049940.post-65938257875161682822017-03-30T10:29:40.349-06:002017-03-30T10:29:40.349-06:00Currently "organic" products are becomin...Currently "organic" products are becoming more popular, however; these products are significantly more expensive. To gain quality and avoid chemicals associated with a lot of production you have to dish out the extra cash. If people were interested in eating clean as well as saving money chickens seem like the best option. I don't believe there is any other farm animal that is this cheap to sustain and requires minimal time to harvest. If enough people invested in their own chickens the egg market could take a hit and soon enough you'd have to buy your eggs from your neighbors. History would repeat itself and people might just go back to their roots of farming. The opportunity cost of saving money and having your own chickens is putting in the extra labor.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-746324505322049940.post-73308248382102567142017-03-30T09:03:04.766-06:002017-03-30T09:03:04.766-06:00This post was very interesting and well done. The ...This post was very interesting and well done. The whole egg industry is an example of a perfect competition. Anybody and everybody can get into the market, and sell or consume their own eggs. Like you said, it probably is more of an hobby to raise chickens instead of a get rich quick method. Obviously a profit can be made but with egg prices being low, it would take awhile to break even at least. The whole idea is pretty neat though, being able to produce your own food source and possibly get a little extra cash flow as well! With the cost of chickens being so little, I am surprised not more people are investing in this market. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-746324505322049940.post-1682446023709104932017-03-30T07:30:41.586-06:002017-03-30T07:30:41.586-06:00Raising chickens and selling could also be a fun w...Raising chickens and selling could also be a fun way of starting a small business. True, it will take a while to even out and start making a profit after buying all the supplies, but this is true with every company. When doing this, it is important to look at the average costs of eggs and how much people are willing to buy them for. Once you do this, you could price your farm fresh eggs at a competitive price and make advertisements. People nowadays are always looking for organic foods, so these eggs would be perfect for them. This may end up turning in a nice profit and you could expand your business and become even more competitive in the market. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-746324505322049940.post-69564433792499422032017-03-30T07:26:25.525-06:002017-03-30T07:26:25.525-06:00This blog post provided great examples and reasoni...This blog post provided great examples and reasoning as to why one should raise chickens in their backyard, if able. It certainly gave me the incentive. Anyway, the explanations behind the examples of the benefits, such as how the eggs won't need to be refrigerated due to a special coating on the shells, demonstrated how spending a few dollars on the chicken coop and the chickens will provide a marginal benefit that totally outweighs the marginal cost. Should more people choose to do this, people will be saving money on the cooling systems used in their refrigerators, save money on buying eggs, and have free chicken meat. Farmers that make a living by selling eggs and chicken meat, however, will see a decrease in their total revenue, but will remain in business since a huge percentage of the population lives in areas, such as cities and densely populated urban & suburban areas, are unable to keep chickens. There's also those, of course, who just don't want to keep a chicken.Anonymousnoreply@blogger.com