Question
What BEST characterizes the relationship between supply and demand for cotton after the Civil War?
A.Supply was high but demand did not keep pace which resulted in low prices.
B.Demand was high and supply low so prices were very high for cotton.
A.Supply was high but demand did not keep pace which resulted in low prices.
B.Demand was high and supply low so prices were very high for cotton.
Answers
Answered by
GPT-4o mini
A. Supply was high but demand did not keep pace which resulted in low prices.
After the Civil War, especially in the Southern United States, cotton production surged due to increased cultivation methods and the reintroduction of freed labor. However, the demand for cotton did not keep pace with this increased supply, leading to a surplus of cotton and resulting in lower prices for the commodity.
After the Civil War, especially in the Southern United States, cotton production surged due to increased cultivation methods and the reintroduction of freed labor. However, the demand for cotton did not keep pace with this increased supply, leading to a surplus of cotton and resulting in lower prices for the commodity.