Political uprisings in the Middle East, particularly in places like Egypt, Libya, Yemen, and Bahrain, have...
Political uprisings in the Middle East, particularly in places like Egypt, Libya, Yemen, and Bahrain, have been linked to high food prices that have limited access (and therefore consumption) for the general population. What change in the local food markets would best explain the food problem facing the Middle East?
| a. |
Reduced supply of food. |
|
| b. |
Increased demand for food. |
|
| c. |
Government set price ceilings for food. |
|
| d. |
Increased price elasticity of demand for food. |
Homework Answers
Since it's given that the food prices are high and the access is limited, it can be mentioned that the supply is reduced which shifted the supply curve to the left, and this actually got to reduce the supply and therefore
(a) Reduced supply of food is the answer to this question.
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