The Demand for Corn Increases

question 101

Multiple Choice

The demand for corn increases.As a result,the price of corn ________,and the less elastic the supply of corn,the ________ will be the effect on the price.

• A)falls;smaller
• B)falls;greater
• C)rises;smaller
• D)rises;greater
• E)None of the above because the change in the price is effected by the price elasticity of demand.

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Definitions:

Conventional Level

A stage in moral development proposed by Lawrence Kohlberg, where an individual's sense of morality is tied to personal and societal relationships, and compliance with laws and norms.

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Fundamental goals or end-states that individuals strive to achieve in their lives, guiding their actions and judgments.

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Values that influence the means to achieving an end, such as ambition and efficiency, guiding how we achieve our goals.

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Goals that are Specific, Measurable, Achievable, Relevant, and Time-bound, providing clear direction and facilitating goal attainment.