Asked by Akeim Potter on Jul 08, 2024
Verified
List the three causes of short-run instability found in agriculture.
Short-Run Instability
A situation in economics where variables such as output, employment, and prices are subject to frequent fluctuations over a short period.
Agriculture
The activity of farming the land, cultivating plants, and breeding animals for human needs and sustenance.
Causes
The reasons or motives behind certain events, actions, or outcomes, identifying why something happens.
- Explain the causes and effects of short-run instability in agriculture.
Verified Answer
JW
Jerod WilliamsJul 08, 2024
Final Answer :
In the short run, there is price and income instability in agriculture. This results from (1)an inelastic demand for agricultural products, (2)fluctuations in farm output, and (3)shifts of the demand curve for farm products.
Learning Objectives
- Explain the causes and effects of short-run instability in agriculture.
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