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Q: What economic concept helps explain the level of potato production?
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What is the relationship between consumption and production?

Production and consumption is another way of saying supply and demand. If production far exceeds consumption for a particular product, the market becomes flooded or saturated and the price of the product goes way down. If consumption far exceeds production, there is a major shortage of the product, so its price goes way up. It is usually best to produce just enough to keep your prices competitive. However, it is certainly not a bad thing to put so much quality into certain products that it causes production to be far below market demands, as long as your customers recognize the difference in quality and are willing to pay extra for it. I think that is the sort of corporate behavior that builds brand loyalty.


Write a statement that best illustrates the concept of diminishing marginal utility?

The more bags of potato chips a person eats, the less additional satisfaction the person gets from eating another bag.


All Fresh vegetable market prices in Dubai?

potato prices in Dubai


What is one example of a monoculture?

Irish Potato Famine. The Irish focused only on one type of potato, so when blight hit, all their resources were gone and the people died or immigrated to other countries including America.


Cost incurred to manufacture lays potato chips?

Potato, oil, spices, fuel to heat the oil. labor and equipment to slice, fry, sort and package the chips. The cost of the building, electricity, and personelle to operate it, and the cost of packaging materials.

Related questions

Which state is known for potato production?

Idaho


Which province has the highest potato production?

Alberta! Ok bye for now!


Are economic opportunities in US pull factor for Irish during potato famine?

no


What has the author A Lloyd written?

A. Lloyd has written: 'Death stalks the dykes' -- subject(s): Fiction in English 'Hill and upland farming in Wales' -- subject(s): Cattle, Economic aspects of Cattle, Economic aspects of Hill farming, Economic aspects of Sheep, Hill farming, Sheep 'Early potato production in England and Wales, 1975' -- subject(s): Potatoes, Statistics


What upcomeing movies is Kate Winslet in?

Labor day(post production)Movie 43(post production)The Guernsey Literary and Potato Peel Pie Society(pre production)


When was potato introduced to China?

It is believed the potato was introduced to China by the Dutch sometime between 1624 and 1662. China is now the world leader in the production of potatoes.


What has the author D R Porter written?

D. R. Porter has written: 'Relation of virus diseases to potato production in California' -- subject(s): Potatoes, Virus diseases of plants, Diseases and pests 'The production of tomatoes in California' -- subject(s): Tomatoes 'Potato production in California' -- subject(s): Potatoes


Which has more mass a potato or potato chip Explain?

If you have a poato with a given mass and turn it into potato chips it will weigh less as water has been driven off in the cooking process. As weight and mass are proportional at any given location it has less mass in its cooked form.


What has the author Betton Cambidge written?

Betton Cambidge has written: 'European seed potato production'


Why use dextrose in potato dextrose agar media?

the microorganism required carbon source and use for the production of energy


Which term would most likely be included in the explanation of the production of starch in a potato?

Photosynthesis, glucose, and dehydration synthesis


Which terms would most likely be included in the explanation of the production of starch in a potato?

Photosynthesis, glucose, and dehydration synthesis