The Global Food Problem Has a Multitude of Complex Interrelated

question 28

Multiple Choice

The global food problem has a multitude of complex interrelated causes but is primarily associated with which of the following?

• A) Physical environment
• B) Economic inequality
• C) Cultural practices
• D) Political instability
• E) None of the above

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Definitions:

Deadweight Loss

Deadweight loss is an economic inefficiency that occurs when the allocation of resources is not optimal, leading to a loss of total surplus or welfare within the economy.

Deadweight Loss

Deadweight loss is a loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable, often due to market failures, taxes, or subsidies.

Excise Tax

A tax levied on specific goods or services at purchase such as alcohol, tobacco, and gasoline.

Elastic

Describes a situation in which the demand for a product or service significantly changes in response to a change in its price.