Economic situation changed

Assignment Help Business Management
Reference no: EM131681645

This year the weather smiled on us, and we made a crop," says a wheat farmer near Minnedosa in Manitoba. "But just as we made a crop, the economic situation changed." This quotation brings to mind the old saying, "If you are a farmer, the weather is always bad." Discuss the sense in which this saying might be true. (Hint: What happens to price if there is a bumper crop? What is the price elasticity of demand for wheat? Is it inelastic or elastic? What happens to total revenue if there is an increase in supply?)Include in your response consideration of the situation in which this same farmer likely finds himself given the extreme crop losses of his fellow farmers in the US due to drought this year.

Reference no: EM131681645

Questions Cloud

Evalute decision and actions made by microsoft wheather : Evalute the decision and actions made by Microsoft wheather is the same with its corporate strategy
Conduct research using credible sources : Have each team identify a topic on Wikipedia that it feels could be updated or enhanced with additional information. Conduct research using credible sources.
Why does the firm include these restrictions : The ad specifies that no phone orders are accepted and that the purchaser must transport the stove. Why does the firm include these restrictions?
Write the response of the juvenile justice system : Focus on a single character and compare the response of the juvenile justice system with the intervention offered by the teacher.
Economic situation changed : This year the weather smiled on us, and we made a crop," says a wheat farmer near Minnedosa in Manitoba. "But just as we made a crop.
How can the incidence of white collar crime be reduced : how can the incidence of white collar crime be reduced, Why are these types of crimes not always subject to legislation
How the accounts apply to the case of justice : Explain their respective accounts of virtue how the accounts apply to the case of justice. Locate a point of disagreement between the two.
Research each side of the net neutrality debate : Using online sources, have two teams research each side of the Net Neutrality debate. In class, each team should make a 5-10 minute presentation to support.
What is the average inventory it holds : In 2013, Firm ABC’s annual inventory turns were 8, and its Cost of Goods Sold was $ 591 million. What is average inventory it holds in $ million during 2013.

Reviews

Write a Review

Business Management Questions & Answers

  Show relationship between a principal and an agent

Relationship Between a Principal and an Agent - what you have learned about the relationship between a principal and an agent, analyze whether Steve or Big Mart could be liable because of Steve's actions.

  Evaluate lenscrafters operations strategy

Evaluate LensCrafters operations strategy and explain how the organization seeks to gain a competitive advantage in terms of sustainability.

  Explain international price-fixing scheme that drove up

Explain Bayer AG was indicted as a participant in an international price-fixing scheme that drove up the costs of rubber chemicals used to make shoes

  Discretion of public administrators

Can the discretion of public administrators be eliminated and would that be a desirable action?

  Compare and contrast the candidates positions

1) Objectively compare and contrast the candidates positions and intentions in the three debate topic areas (use headers to separate). 2) Reflect on how positions/policy proposals relate to topics discussed in MGT 1; for example:

  Organizational behavior - cross-cultural diversity

Organizational Behavior - Cross-Cultural Diversity - senior management team has requested you provide them with a proposed plan for training the current and future employees about cross-cultural diversity.

  What effective management traits do you possess

Assignment: Effective Versus Ineffective Managers- Review your own management style. What effective and non-effective management traits do you possess?

  Brief the facts of the case - inc. v. soskin

Brief the facts of the case and assume your boss is seeking your opinions as noted in the Critical Legal Thinking, Ethics, and Contemporary Business questions. Argue both sides of all issues.

  Absolute value of the difference between num

Write a return method named fromTen that returns an integer. fromTen takes in one parameter oftype integer named num. fromTen will return the absolute value of the difference between num and 10. Do not write a Class, just a Method.

  I need to do a career plan report of 1300 words plus 10

i need to do a career plan report of 1300 words plus 10 powerpoint slides with a maximum of 200 word including notes on

  Describe the major labor-management interactions

Describe the major labor-management interactions: organizing, contract negotiations, and contract administration. Specifically discuss: reasons why employees may join unions, the different types of unions, the negotiation process from a labor and ..

  Describes what ethics and professional conduct means

Ethics and professional conduct are extremely important in the workplace and different professions have different requirements and expectations of the people within the professions.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd