Good weather in wheat-producing regions of the world increased the wheat crop. As a result, wheat prices decreased worldwide. Which of the following statements best explains the situation?
a. The supply of wheat increased
b. The demand for wheat decreased
c. The demand for wheat decreased and the supply of wheat decreased
d. The demand for wheat increased and the supply of wheat increased
a. The supply of wheat increased
Economics
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Economics can be defined as the social science that explains the ________
A) choices made by politicians B) choices we make when we trade in markets C) choices that we make as we cope with scarcity D) choices made by households
Economics
Which is larger: the present value of $1 two years from now or the present value of $1 one year from now? Explain
What will be an ideal response?
Economics