Analyze why cotton and oil prices dropped in Texas at the beginning of the Great Depression. (1 point)

Question

Farmers and refinery owners had to fire Black and Mexican American workers to provide jobs for White laborers.
Farmers and refinery owners often went against government orders to produce high surpluses to make up for profit
losses.
Farmers and refinery owners were allowed by state and federal governments to produce large amounts of these
natural resources to make up for profit losses.
Farmers and refinery owners received no federal relief funding during the Hoover administration.

Answer 1

The most likely answer is that farmers and refinery owners often went against government orders to produce high surpluses to make up for profit losses. During the Great Depression, there was an oversupply of cotton and oil, resulting in a collapse of prices. In an effort to counteract declining profits, farmers and refinery owners continued to produce high amounts of these natural resources, despite government attempts to implement production limits and regulations. This further contributed to the drop in prices as market demand could not keep up with the excessive supply.

Answer 2

from the options which one is correct

Answer 3

From the options provided, the most accurate answer would be that farmers and refinery owners often went against government orders to produce high surpluses to make up for profit losses. This aligns with the historical context of the Great Depression, where oversupply of agricultural and industrial products led to price drops. Farmers and refinery owners, facing financial difficulties, ignored government regulations to produce excessive amounts of cotton and oil in an attempt to make up for their profit losses.