Asevere freeze has once again damaged the florida orange crop. the impact on the market for orange juice will be a leftward shift of

use letters in alphabetical order to select options

a

both the supply and demand curves.

b

the demand curve, as consumers try to economize because of the shortage.

c

the supply curve.

d

the supply curve and a rightward shift of the demand curve, resulting in a higher equilibrium price.

C. Supply Curve

Explanation:

Supply : Quantities sellers are able & willing to sell at a price , period . Determinants :  Price (price supply direct relationship - upward sloping curve) , Inputs Price , Other goods price , Technology , Govt Policy , Seasonal factors .

Change in supply due to Price is 'Change in Quantity supplied' , leads  to movement along the curve . Change in Supply due to other factors is 'Change in Supply' & shifts the curve

Damage of orange crop will decrease its supply & hence derived supply of its by product orange juice .

Since the decrease in supply is due to other (seasonal) factor , it will shift the supply curve - decrease it & leftward shift . This supply deficiency leads to excess demand raising the equilibrium prices finally .

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.