Supply and Demand Effects farmers in various ways:
- Demand Increase: Price increases, Quantity increases.
- Supply Increase: Price decreases, Quantity increases.
- Demand Decrease: Price decreases, Quantity decreases.
- Supply Decrease: Price increases, Quantity decreases.
<u>Explanation:</u>
Supply and demand, as well as market prices, will rise and fall until they achieve a balance, which is called market equilibrium. As a response to decline the sales, farmers will have to lower the prices until the demand for product increases.
If a farmer set a price which is too high, thus the demand will decrease. If the market price is high, the interest of producers for a certain product or service will increase.
the ratification process started when the Congress turned the Constitution over to the state legislatures for consideration through specially elected state conventions of the people.
agreeing to continue the slave trade indefinitely
agreeing not to end the slave trade for at least 20 years
agreeing to end the slave trade immediately
agreeing to continue the slave trade for a maximum of 50 years
