Recall the Application About the Price of Vanilla Beans to Answer

question 100

Multiple Choice

Recall the Application about the price of vanilla beans to answer the following question(s) . In 2000, a
cyclone destroyed the vanilla bean crop in Madagascar, the worldʹs leading vanilla producer, and the
replacement vines took 3 to 5 years to produce usable beans. By 2006, the replanted vines in Madagascar
started to produce vanilla beans, but by that time several other countries had also entered the vanilla
market. The price of vanilla beans went from $50 per kilo to $500 per kilo from 2000 to 2003, and from
$500 per kilo to $25 per kilo from 2003 to 2006.
-According to this Application, from 2003 to 2006, the price of vanilla beans decreased because the _______ curve shifted _______ .

• A)demand; up and to the right
• B)demand; down and to the left
• C)supply; down and to the right
• D)supply; up and to the left

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Definitions:

Human Factors Psychology

The study of how people interact with products, systems, and environments in order to improve technology, safety, and usability.

Organizational Psychology

A branch of psychology that studies how people interact within groups and how workplaces operate to improve efficiency and productivity.

Person-Environment Fit

A concept in psychology that describes how well an individual's characteristics match the demands and attributes of their external environments, impacting their well-being.

Increased Earnings

A situation or trend where an individual's or organization's income or profits grow over time.