An Advance in Farm Technology That Results in an Increased

question 46

Multiple Choice

An advance in farm technology that results in an increased market supply is

• A)good for farmers because it raises prices for their products but bad for consumers because it raises prices consumers pay for food.
• B)bad for farmers because total revenue will fall but good for consumers because prices for food will fall.
• C)good for farmers because it raises prices for their products and also good for consumers because more output is available for consumption.
• D)bad for farmers because total revenue will fall and bad for consumers because farmers will raise the price of food to increase their total revenue.

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Definitions:

Fulfillment Needs

Psychological or emotional requirements that individuals seek to satisfy through personal achievement, relationships, or work.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, illustrating a five-tier model of human needs, from basic (physiological) to higher (self-actualization).

Personal Growth

involves the pursuit of learning, development, and improvement of one's skills, knowledge, and overall character.

Collaboration

Working together in pursuit of a common cause; cooperation in a joint effort.