The Data Shows the Demand and Supply for Wheat

question 77

Multiple Choice

The data shows the demand and supply for wheat:
quantity of bushels per year (in million)

-Refer to the information above to answer this question.What are the implications if the wheat market is in equilibrium?

• A)The market price would be $10 per bushel and there would be a shortage of 20 bushels of wheat.
• B)The market price would be $12 per bushel and there would be a shortage of 10 bushels of wheat.
• C)The market price would be $14 per bushel and 20 bushels of wheat would be demanded.
• D)The market price would be $16 per bushel and there would be a surplus of 10 bushels of wheat.
• E)The market price would be $18 per bushel and there would be a surplus of 20 bushels of wheat.

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Definitions:

Social Reproduction

The process by which societal norms and inequalities are passed down from one generation to the next, maintaining the social structure.

Marxist

Pertaining to the theories and practices derived from the works of Karl Marx, focusing on the struggle between classes and the economic factors influencing society.

Feminist-Marxist

A theoretical framework that combines feminist and Marxist perspectives, focusing on the oppression of women within capitalist societies.

Social Inequalities

The unequal distribution of resources, opportunities, and rights among different social groups, often leading to disparities in wealth, power, and social status.