ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What will happen to the price of wheat if Farmers have to start paying more for fertilizer?
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The price will increase
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The price will decrease
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Global price hike Urea production is based on natural gas, prices of which are closely related to international oil prices. Sulphur prices have increased by about 138.8 per cent from $216 per tonne in May, 2021 to $516 per tonne in May, 2022.
Detailed explanation-2: -This year, giant fertilizer companies hauled in hundreds of millions in net earnings. The rise in profits represents massive percentage increases since last year. One major producer’s earnings jumped more than 1, 000% in the first nine months of 2022 than in the same time period last year.
There is 1 question to complete.