In 2014, the price of peanuts was rising, which led peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. In the current market for peanut butter, the price rises and the quantity increases.
This set of results means that A) demand increased by more than supply decreased.
B) supply decreased by more than demand increased.
C) demand increased by more than supply increased.
D) supply decreased by more than demand decreased.
Question 2
When profits are the result of pure luck, they can be distinguished from profits attributable to correct predictions by
A) asking the people who profited.
B) finding out whether the profits were earned through effort.
C) no known empirical criteria.
D) whether or not they were generally anticipated.
Plant-transpired water vapour mist rising from a tropical rain forest.
Global energy consumption is rising rapidly
Real Price of Oil, 1861–2010
Clarified butter
Adiabatic Cooling of Rising Air