Explain How Upwelling Along the Western Coast of South America

question 66

Essay

Explain how upwelling along the western coast of South America contributes to the dryness of the Atacama Desert in Chile.

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Definitions:

Producer Surplus

The difference in earnings expected by producers for a good or service versus the actual payment received.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, resulting in a balance without excess supply or demand.

Producer Surplus

The variance between the price producers want to sell an item for and the price they end up receiving.

Equilibrium Price

The price point at which the quantity of a good or service supplied equals the quantity demanded.