When British farmers are racing to ship this year's abundant harvest out of the U.K., what...
-
When British farmers are racing to ship this year's abundant harvest out of the U.K., what is happening to wheat market?
The supply of wheat increases
The demand for wheat increases
The supply of wheat decreases
QUESTION 2
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If U.K. left EU without a deal, British farmers would face tariff on their products and it wiould cause the price of agricultural goods to _______
decrease
increase
to stay the same
QUESTION 3
-
When British farmers are racing to ship this year's abundant harvest out of the U.K., what is happening to wheat market?
The price of wheat increases
The price of wheat decreases
The price of wheat does not change
QUESTION 4
-
When British farmers are racing to ship this year's abundant harvest out of the U.K., what is happening to freight market?
The supply of freight decreases
The demand for freight decreases
the price of freight increases
Homework Answers
When British farmers are are supplying their abundant harvest out of the United Kingdom, this implies that there will be a reduction in the total quantity of wheat supplied within the United Kingdom. As the supply is decreased, supply curve shifts to the left, which increases the price of wheat and decreases the quantity of wheat supplied. In case, United Kingdom is no longer a part of the European union, tariff will increase the price of agricultural goods.
1) supply of wheat decreases
2) increase
3) price of wheat increases
4) price of freight increases
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When British farmers are racing to ship this year's abundant
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