Question

Why would american soybean producers care about the weather in south america? Is this distinction macro, micro, or a mixture of micro and macro?

Answer 1

Answer: Macro

Explanation:

This is a macro distinction as the producers of soybean in America are concerned about the crop grown in South America as it will affect the overall price level of soybean in America. When the weather in South America is favorable and the crop produce is large, the supply curve for soybean will shift to the left driving down the overall price level of soybean in America.

Thus, because the concern here is about the overall produce and overall price level it is a macro distinction.