Which Is Not a Challenge Facing the Agricultural Industry

question 1

Multiple Choice

Which is not a challenge facing the agricultural industry

• A) Purchase or forced acquisition of agricultural land for other industries
• B) Limited water resources
• C) Price support by government for crops
• D) Transportation infrastructure to get products distributed

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Definitions:

Minimum Wage Law

Legislation that sets the lowest hourly wage rate that employers can legally pay their workers.

Price

The amount of money expected, required, or given in payment for something. It serves as a signal between buyers and sellers in a market.

Labor

The human effort, both physical and mental, used in the production of goods and services.

Substitution Effect

The change in quantity demanded of a good or service as consumers switch to or from substitutes when the price changes.