Asked in AgricultureWheat
'why is wheat supply fixed in the short-term'?
What is the elasticity of demand and supply and why is supply fixed in the short-run?
equilibream Answer Wheat grows according to harvest cycles. So in the short run, you only have as much wheat as was planted and harvested for a given year. If you forecast that you are going to need more wheat over, say, the next 5 years, you can plan to devote more land to growing wheat, buy more fertilizer, invest in more labor hours, etc. But once the wheat is in the ground and growing for a particular year, there is only a limited amount you can do to improve supply for that particular year.
Asked in Agriculture, Economics, Business and Industry
What effect will a price ceiling imposed by the goveenment have on the supply of farms producing wheat?
Asked in Agriculture, Farm Crops
What best describes why the price of wheat might rise following a poor wheat harvest?
Asked in Economics, Food & Cooking, Wheat
Using the demand and supply analysis try to describe the recent increase in wheat prices worldwide?
Asked in Wheat
How might the price of corn affect the supply of wheat?
Since corn and wheat can both be used as types or grain, they are in a way interchangeable amongst buyers. These types of goods are called substitute good, one can be substituted for another. If the price of corn rises, that leaves wheat being the more favored product (because it's cheaper). When an increase for the demand for wheat increase, the supply will decrease. The opposite would happen if the price of corn falls. If it falls under the price of wheat, corn will then be more favored. Thus making it the more demanded product. Under the law of demand, supply and demand work in opposite directions. When the demand increases, the supply decreases. When the demand decrease, the supply increases.
What is ac and DC supplies?
What do you mean with the statement A fixed supply means that real estate prices will fluctuate with demand?
The statement refers to basic microeconomics: Under the condition of a fixed supply, demand alone determines price. Supply is constant. Under other conditions, Supply is represented on a graph as a line that slopes upward, while demand is a line that sloped downward. That is that as the quantity supplied increases, so does price. As the price increases, the quantity demanded decreases. Where the two curves meet is called the Equalibrium. Under the condition of a fixed supply, supply is not represented by a curve, but a vertical line. Demand is still a curve, but the quantity demanded cannot exceed the supply. edit: That answer is hyper-technical, and reads like a modern textbook. The terms, "demand" and "fixed supply" refer exactly to this type of graph. In English, the question simply means that the price of real estate will go up or down depending solely on how much people are willing to pay.
Asked in Economics, Wheat
What are factors affecting demand for the supply of wheat?
What was the shortterm affect of the Civil Rights Act of 1964?
Asked in Economics
Is economic rent fixed in total supply?
Land is completely fixed in total supply. No matter how high the rent, no more can be brought into use. Thus rent serves no incentive function; the same amount of land will be available no matter how high the rent. But the resulting argument that rent is a surplus that could be eliminated without reducing the supply is to look at it from the viewpoint of society only.