Suppose Irregular Weather Patterns Caused Very Poor Yields for Orange

question 168

Multiple Choice

Suppose irregular weather patterns caused very poor yields for orange farmers this past year. Which factor of supply would this change in the market for orange juice?

• A) Technology
• B) Price of input
• C) Number of sellers
• D) Price of related good

---

Definitions:

Product Development

The process of creating or improving a product or service to meet market demands or take advantage of new opportunities.

Test Marketing

A strategy that involves launching a product in a limited market to gauge consumer response before a wider release.

Planned Obsolescence

A practice in which companies frequently come out with new models of a product that make existing models obsolete.

Diffusion

The process by which a product is adopted and spreads across various types of adopters.