Fewer Chickpeas Means Cheap Protein Could Be Harder to Find

Farmers in the United States planted fewer chickpeas this year as poor weather bogged down spring planting and they prioritized other crops like wheat and corn. Grocery stores report a 12% increase in chickpea prices over last year.—reuters.com

Answer the following questions to check your understanding of the story.

How did poor weather in the spring of 2022 influence the U.S. chickpea market?

a) The supply of chickpeas decreased and as the price rose the quantity bought and sold increased.

b) The quantity of chickpeas supplied decreased and as the price rose, the quantity bought and sold increased.

c) The supply of chickpeas decreased, and the quantity bought and sold decreased.

d) The quantity of chickpeas supplied decreased, and the quantity bought and sold decreased.

How did poor weather in the spring of 2022 influence the U.S. corn market?

a) Farmers increased the quantity supplied, so the equilibrium quantity increased.

b) Farmers increased the supply of corn, and the market equilibrium quantity increased.

c) Farmers increased the supply of corn, so the market price fell and the equilibrium quantity decreased.

d) Farmers increased the quantity supplied, and as the market price fell, the equilibrium quantity decreased.

Fewer Chickpeas Means Cheap Protein Could Be Harder to Find

Like this:

Leave a ReplyCancel reply

Share this:

Like this:

Leave a ReplyCancel reply

Discover more from Econ Eye