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:

Immigration

is the action of coming to live permanently in a foreign country.

Country

A nation with its own government, occupying a particular territory.

Crude Death Rate

A measure of the number of deaths in a given population during a specified period, typically expressed per thousand individuals per year.

Deaths

refers to the cessation of all biological functions that sustain living organisms, marking the end of life.