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Characteristics of the book and bust cycle for agriculture in Texas: Farmers continued to increase the production of agricultural products. Expansion of urban areas created demand of agricultural products
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27 votes
27 votes
Characteristics of the book and bust cycle for agriculture in Texas:

Farmers continued to increase the production of agricultural products.

Expansion of urban areas created demand of agricultural products

Classify them as either boom or bust that describe it.

User Bharath Mg
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1 Answer

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13 votes

Answer: The boom in commercial farm production eventually led to a bust in prices. As farmers grew more crops, sup- ply began to exceed demand, and thus prices fell. This is the economic law of supply and demand. If supply is more than demand, prices fall

Step-by-step explanation:

User Fourier
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