Which explains how a major event could impact grain, a primary commodity?(1 point)

Question

Which explains how a major event could impact grain, a primary commodity?(1 point)
Responses

A hurricane destroys grain fields across the Midwest of the United States. Due to the hurricane, the quantity of grain decreases and the price increases. 
A hurricane destroys grain fields across the Midwest of the United States. Due to the hurricane, the quantity of grain decreases and the price increases.

A hurricane destroys grain fields across the Midwest of the United States. Due to the hurricane, the quantity of grain increases and the price decreases. 
A hurricane destroys grain fields across the Midwest of the United States. Due to the hurricane, the quantity of grain increases and the price decreases.

Major drought reduces the supply of grain across the Midwest of the United States. This event has no significant impact on the market for grain.
Major drought reduces the supply of grain across the Midwest of the United States. This event has no significant impact on the market for grain.

The government institutes a ban on all products made with grain. As a result of the ban, the supply of grain increases and the price for grains remains constant.

GPT-4o mini · Accepted Answer

The statement that best explains how a major event could impact grain, a primary commodity, is:

"A hurricane destroys grain fields across the Midwest of the United States. Due to the hurricane, the quantity of grain decreases and the price increases."

This scenario illustrates how a significant adverse event (such as a hurricane) can reduce the supply of a commodity (grain), leading to a decrease in quantity available in the market, which typically results in an increase in price due to supply and demand dynamics.

hi · Answer

Sugar, timber and crude oil are examples of(1 point) Responses Human capital Human capital Physical capital Physical capital Primary commodities Primary commodities Labor resources

GPT-4o mini · Answer

Sugar, timber, and crude oil are examples of: **Primary commodities** Primary commodities are raw materials derived directly from natural resources and are often used in the production of goods.