Skip main navigation

Economic Factors

Economic
Businessman hand holding bills of US dollar in fist
© QUB

Digital technology has the potential to transform the food system. However, different actors across the food system have different factors to take into account before implementing a new technology.

Economic Factors

Economic factors are those which influence the profitability of a food business. In order to remain financially viable and compete in the global food market, food bsuinesses must ensure income exceeds expenses. However, new digital technologies can be very expense and thus, this presents a barrier, particulalry to small-medium sized enterprises.

What we would like you to do

Please reflect on some of the technologies we have showcased over the last four weeks. Pick one technolgy and carry out your own internet hunt to

  • Do you think small-medium enterprises or those with limited resources should purchase expensive technologies?
  • What are the benefits the technology offers?
  • Are these technologies worth the cost?
© QUB
This article is from the free online

Revolutionising the Food Chain with Technology

Created by
FutureLearn - Learning For Life

Our purpose is to transform access to education.

We offer a diverse selection of courses from leading universities and cultural institutions from around the world. These are delivered one step at a time, and are accessible on mobile, tablet and desktop, so you can fit learning around your life.

We believe learning should be an enjoyable, social experience, so our courses offer the opportunity to discuss what you’re learning with others as you go, helping you make fresh discoveries and form new ideas.
You can unlock new opportunities with unlimited access to hundreds of online short courses for a year by subscribing to our Unlimited package. Build your knowledge with top universities and organisations.

Learn more about how FutureLearn is transforming access to education