A Good Weather in Spain Results in Good Crop of Oranges

question 176

Multiple Choice

A good weather in Spain results in good crop of oranges causing the prices of both oranges and orange juice to fall. As a result, the consumer surplus in the market for oranges

• A)decreases, and the consumer surplus in the market for red wine decreases.
• B)decreases, and the consumer surplus in the market for red wine increases.
• C)increases, and the consumer surplus in the market for red wine decreases.
• D)increases, and the consumer surplus in the market for orange juice increases.

---

Definitions:

Exploited Class

A social group that suffers from exploitation by being forcefully deprived of accessing the full value produced by their labor, often discussed in the context of Marxist theory.

Bourgeoisie

Owners of the means of production, including factories, tools, and land. They do not do any physical labor. Their income derives from profits.

Means of Production

The resources—including tools, factories, and land—required to produce goods and services.

Social Classes

Divisions in society based on factors such as wealth, occupation, education, and power.