Responses
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.
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.
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.
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.
1 answer
The correct response that 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 natural disaster can reduce the supply of a commodity (in this case, grain), leading to an increase in prices due to the lower available quantity.
