StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Analysis of Grain Prices fall From Their Heights Article by Berry, Ian, and Tom Polansek - Essay Example

Cite this document
Summary
"Analysis of Grain Prices fall From Their Heights Article by Berry, Ian, and Tom Polansek" paper examines the article which shows the clear application of the Law of Supply and Demand in our markets. We can also see how the simple tools of demand and supply can affect the prices of goods in the economy…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.2% of users find it useful
Analysis of Grain Prices fall From Their Heights Article by Berry, Ian, and Tom Polansek
Read Text Preview

Extract of sample "Analysis of Grain Prices fall From Their Heights Article by Berry, Ian, and Tom Polansek"

A higher price, however, will put them at a disadvantage because it will lessen their purchasing power, and as a result, they will demand less of that good. This decision will cause a change in demand as they will try to look for alternatives or substitutes for that product. This is also known as the substitution effect. A seller may see the situation differently. A lower price is not as encouraging as a higher price. This means that the sellers are more willing to make their goods available in the market at higher prices because this means more profit.

The shortage in the supply of grain had caused the prices to go up and the additional supply due to the better weather caused the prices to fall. This is a pricing mechanism in a purely competitive product market. A shortage is when the quantity demanded is greater than the quantity supplied resulting in a higher selling price while a surplus happens because quantity supplied exceeded what the market demands. When neither shortage nor surplus exists, the price and quantity supplied and demanded are at equilibrium.

The equilibrium price and quantity are where selling and buying decisions are synchronized or coordinated as a rationing function of prices (McConnell and Brue, p.58). Changes in demand or supply may affect the equilibrium price and quantity. An increase in the inventory of corn because of better weather had a quantity increase and price-decreasing effect causing the prices of grains to fall. 

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Econ. 2010 Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
Retrieved from https://studentshare.org/other/1409175-econ
(Econ. 2010 Essay Example | Topics and Well Written Essays - 500 Words)
https://studentshare.org/other/1409175-econ.
“Econ. 2010 Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/other/1409175-econ.
  • Cited: 0 times

CHECK THESE SAMPLES OF Analysis of Grain Prices fall From Their Heights Article by Berry, Ian, and Tom Polansek

Article Analysis

article Analysis article: Heating Oil Declines as Lower Demand Boosts Fuel Inventories Barbara Powells reports in this article that heating oil futures fell due to reduced demand during 1st week of January, 2012 and that is evident from the fact that inventory accumulated to the highest level in the preceding 12 weeks' period from the date of writing this article.... The article further states that demand for heating oil and diesel went down by 3....
3 Pages (750 words) Research Paper

Price Elasticity of Demand

grain prices fall from their heights.... This is what exactly happened in the US last October of 2010 (Berry & polansek, 2010).... & polansek, T.... Bibliography berry, I.... om/article/SB10001424052748704029304575526452832778416.... from there we can see how the simple tools of demand and supply can affect the prices of goods, the consumers' spending behavior and the businesses' decisions and the operations of the entire economic system....
2 Pages (500 words) Essay

The Price of Beef

Related articles on demand and supply of food and grains like corn are utilized to achieve the goal of producing an intelligent analysis of the issues reflected in the article.... The paper 'The Price of Beef' describes the article that was about the increasing price of beef observed in the US and how the consumers and suppliers of beef were reacting to the situation.... In the article, the rise in beef price inflicted by high corn prices, more exports to protein-hungry nations and the market forces of supply and demand, is causing a pain being felt by beef lovers nationwide....
6 Pages (1500 words) Essay

Yahoo's to rise fame

Its business model that helped it grow to such great heights was based on using their online.... Its business model that helped it grow to such great heights was based on using their online directory for commercial purpose.... These strategies worked greatly as the number of registered users rose from 26 million to 50 million by the end of 1998.... Its share price also rose from $5 to $244 in early 1999 during the dot-com boom (Jones,456)....
2 Pages (500 words) Essay

Analysis of What Are People For Article by Berry Wendell

The author analyses "What Are People For" article by Wendell and concludes that although he has a vision and exceptional ideas, Wendell fails to note the demanding socio-economic environment of the industrialized society.... Wendell berry offers an insight into the importance of practicing some sort of agriculture to produce food.... Besides, berry recognizes the immediate challenge of poor feeding habits and the transferred costs through medical attention over nutritional health related problems....
4 Pages (1000 words) Assignment

Price Elasticity of Demand - The Price of Beef

Related articles on demand and supply of food and grains like corn are utilized to achieve the goal of producing an intelligent analysis of the issues reflected in the article.... In the article, the rise in beef price inflicted by high corn prices, more exports to protein-hungry nations and the market forces of supply and demand, is causing a pain being felt by beef lovers nationwide.... But since some customers like Beth Belling from Omaha are a carnivore, they have to have their beef even if hurts them a little more....
6 Pages (1500 words) Report

Vegetable prices likely to fall

However, the article indicates that it all goes for the better as the prices are predicted to lower.... This essay describes the price level of food products influences the majority of each household's expenditure, therefore changes in prices draw people's attention.... The reasons for prices being up for a long period of time and their estimated changes are hidden within laws of demand and supply.... '6 This inability to sell their goods also affects the prices, as it affects supply curve even more....
6 Pages (1500 words) Article

Correlation between Height and Weight in Relation to the Ability of the Basketball Players

To achieve this, data from the NBA association will be used to try relating the two.... There exists a small positive correlation when it comes to weight and most of the stats in basketball apart from yards per attempt (Belloti, 2002, p.... "Correlation between Height and Weight in Relation to the Ability of the Basketball Players" paper argues that the factors that switch the correlation coefficient include touchdowns and wideouts, interception percentage, yards per catch, completion percentage, and the position played by each player....
8 Pages (2000 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us