Question

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.

Answer 1

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: