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    7 views1 page

    Supply and Demand - Edit

    Uploaded by

    Geoff

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Supply and Demand

    Supply and demand is the most basic principal of economics. The table below shows corn production and demand in the US in 2004/2005 and 2010/2011.

    Year

    Supply (in millions of bushels) 11,806


    13,370

    Demand (in millions of bushels) 10,661


    13,300

    2004/2005
    20010/2011

    Assume that the rate of change for each year is constant. Will the demand for corn ever surpass the supply? If so, when would this happen? Justify your answer.
    Kim Dawson LASGS

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