Recall the Application About the Decline in Honeybee Colonies and Its

question 21

Multiple Choice

Recall the Application about the decline in honeybee colonies and its effect on the price of ice cream to answer the following question(s) . In the last few years thousands of honeybee colonies have vanished, a result of bee colony collapse disorder (CCD) . Roughly one third of the U.S. food supply--including a wide variety of fruits, vegetables, and nuts--depends on pollination from bees. The decline of honeybees threatens $15 billion worth of crops in the United States.
-This Application exemplifies how a change in ________ in one market impacts the ________ in a different market.

• A) demand; demand
• B) demand; supply
• C) supply; supply
• D) supply; demand

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Definitions:

Absolute Advantage

The ability of an individual, company, or country to produce a good or service more efficiently than its competitors with the same amount of resources.

World Production

encompasses the total output of goods and services by all economies across the globe over a specific period.

Self-Sufficient

The ability to fulfill all of one's needs without relying on external assistance.

Comparative Advantage

The ability of a country, individual, company, or region to produce a particular good or service at a lower opportunity cost than others.