Prices Communicate Information About Relative Availability of Products

question 185

Multiple Choice

Prices communicate information about relative availability of products. What does a decrease in the price of corn signal to consumers and producers?

• A) that consumers are stocking up on corn because of the predictions of a cold winter
• B) that consumers are buying more corn than before
• C) that corn is relatively less abundant than before
• D) that corn is relatively more abundant than before

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Definitions:

Children's Interests

Concerns related to the well-being, development, and rights of children, ensuring their needs and rights are considered and protected.

Truth-Telling

The ethical practice of providing accurate information, often relevant in contexts like patient care, journalism, and personal relationships.

Moral Agents

Individuals or entities capable of making ethical decisions and being held accountable for their actions, based on their ability to differentiate between right and wrong.

Autonomy

The right or condition of self-government, especially in the context of individual moral, ethical, or personal decisions.