객관식
Which of the following is a reason to study economics?
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0. Basic Principles of Economics
Introduction to Economics
객관식
Which statement best explains how farmers contributed to their own economic problems in the late 19th century?
A
Farmers formed monopolies that artificially raised the prices of their goods.
B
Farmers increased production, which led to lower crop prices and reduced their incomes.
C
Farmers limited their output, resulting in widespread food shortages.
D
Farmers refused to adopt new technologies, causing their costs to rise.
검증된 단계별 안내1
Understand the historical context: In the late 19th century, many farmers faced economic difficulties due to changes in supply and demand in agricultural markets.
Recognize the concept of supply and demand: When farmers collectively increase the production of crops, the total supply in the market rises.
Apply the law of supply and demand: An increase in supply, assuming demand remains constant, typically leads to a decrease in the market price of the goods.
Connect the price change to farmers' incomes: Lower crop prices mean that farmers receive less money per unit sold, which reduces their overall income despite producing more.
Conclude that by increasing production, farmers unintentionally caused a surplus that drove prices down, thereby contributing to their own economic problems.
