Greg Page, former CEO of Cargill spoke with EconTalk host Russ Roberts about what it’s like to run a global food company and issues affecting world food markets.

Here’s your chance to test your knowledge and share your answers to questions from this week’s conversation.

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Check Your Knowledge:

1. In stressing the interdependent nature of “food security,” Page utilizes the concept of comparative advantage. What does comparative advantage mean, and how does it apply to food security?

2. When weather affects the supply of food in crucial producing countries, how do prices help maintain the world supply of food?

Going Deeper:

3. When Roberts asks Page how he feels about the local food movement, he replies that it depends how you measure it. What does he mean? Do you think he is employing the right standards to judge this movement? What are your thoughts on the efficacy of the local food movement?

To what extent should the world rely on genetically modified foods?

4. When the two discuss GMOs, Page asserts that there exist other ways to feed the planet, but that GMOs ought to be relied upon. What reasons does he give for his position? To what extent are you persuaded by them?

Extra Credit:

5. Page argues that government assistance in the form of insurance is a crucial source of stability of the world food supply. Do you agree? What evidence might help assess whether Page is right?