Define and explain unintended consequences. Give me an example from your personal decision-making that led to unintended consequences.Using the example from the article, identify some of the unintended consequences of using cornto produce ethanol to add to gasoline.Edit ViewInsertFormatToolsTable12pt vParagraph| BIU "It will likely mean higher prices for corn-based products, which is practicallyeverything," says Richard Asplund, research director at Melvin Securities in Chicago.In Mexico, higher corn prices are being blamed for skyrocketing tortilla prices, whichhave increased the country's inflation rate. Last week, the Mexican government struck adeal with producers and grocery stores to cap tortilla prices.But American Farm Bureau Federation senior economist Terry Francl saysconsumers will see very little impact from higher corn prices. He expects the index forfood inflation at the consumer level will not be affected by ethanol production in 2007and then will rise 0.2% in 2008 and 0.5% in 2009 because of ethanol production.U.S."It's probably not going to be all that much," he says, noting more than half of corn isused to feed animals. But it takes.time before higher feeding costs affect retail meatprices. And meat prices are likely to rise at a much slower pace than the increase in feedcosts, he says.Says Michael Swanson, agricultural economist at Wells Fargo in Minneapolis, "We won'tsee any impact unless corn prices stay high through all of 2007." If that happens,"Eventually, it is really going to show up on the meat counter."Strong demand for corn has led to a sharpincrease in prices. Price for corn trading fordelivery in March 2007:(dollars per bushel)$4.00- $2.55$3.00 -$2.00-$4.04$1.00

Define and explain unintended consequences. Give me an example from your personal decision- making that led to unintended consequences. Using the example from the article, identify some of the unintended consequences of using corn to produce ethanol to add to gasoline. Edit View Insert Format Tools Table |BIU T? | : 12pt v Paragraph

Define and explain unintended consequences. Give me an example from your personal decision- making that led to unintended consequences. Using the example from the article, identify some of the unintended consequences of using corn to produce ethanol to add to gasoline. Edit View Insert Format Tools Table |BIU T? | : 12pt v Paragraph

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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