What Caused the Lack of Food and Resulting Riots in 2008

question 8

Multiple Choice

What caused the lack of food and resulting riots in 2008?

• A) extreme weather events
• B) the rising cost of oil
• C) the growing demand for meat
• D) increased production of biofuels
• E) all of these answers likely contributed, with other factors as well

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Definitions:

Per Capita

A statistical measure that divides an aggregate by the number of individuals in the population, often used to express averages.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a state of market balance.

Equilibrium Quantity

The quantity of goods or services demanded equals the quantity supplied at the market price, resulting in market equilibrium.

Excise Tax

A tax levied on the sale of specific goods and services, such as tobacco, alcohol, and fuel.