In the 1930s,1940s and 1950s Many Developing Countries Intervened in Agricultural

question 28

Multiple Choice

In the 1930s,1940s and 1950s many developing countries intervened in agricultural markets in order to _________.

• A) Keep food prices down for the poor
• B) Keep food prices high to benefit farmers
• C) Keep food prices down for urban workers
• D) Encourage growth in export businesses

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Definitions:

"Invisible Hand"

A metaphor introduced by Adam Smith to describe how individual self-interest and competition can lead to social and economic benefits.

Price Mechanism

The manner in which the prices of goods or services affect the supply and demand of those goods or services, and how this interaction determines the allocation of resources.

Equity

The ownership interest held by shareholders in a corporation, represented by their shares of the company.

George Strait

George Strait is an American country music singer, songwriter, actor, and music producer, known for his contribution to the country music industry.