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As the third major international crop, the price of corn rising is affecting the globe. As droughts plague the agriculture of African countries, the price of corn is surging, reminding us again that world hunger is still prevalent in the world today. The title of the article was eye-catching and reading it through "economic lens" really made it interesting. Droughts in Africa is affecting the agriculture of corn and making crops scarcer. In addition, price of fertilizers is two to four times more expensive in Africa, detrimentally affecting the region, which uses the most fertilizers. The opportunity cost of purchasing fertilizers is enormous as the money spent on fertilizers can be used for providing services for workers, better equipment or improving on infrastructures. Furthermore, farming technology is still quite primitive compares to North American standards and as a result the production possibility curves are smaller than other agricultural regions. This article was really interesting because it relates so closely with what we have learned so far, and it reminded me that world hunger is still very much present in our world.

The drought damaged the corn and soybean fields in the U.S. This caused drop in supplies in two crops to below year-earlier consumption levels for the first time since 1974. Prices have rose from 8.49 on August to $18 on September, but dropped again to $15.04 on October 3. This clearly shows both swift in supply, which set a new market equilibrium and price mechanism that adjusts the price of a product the new equilibrium. As the natural disaster swifted the supply curve, the price rose, but because the price was out of equilibrium price, the price dropped..

There is a lot of articles about the problems with the harvest of corn. It is a big problem because it affect everybody. USA produce 40 % of the corn production. The the had bad crop it will affect everybody because the price will increase and the supply will decreasy, it will cause huge problemes to the poor people, because the won´t be able to afford it. I think that this is one of the bigest problem of the world because each day more and more people die of hunger. We must increase the food supply.

The recent drought in the pass summer in the Midwest has resulted in a decrease in crops. As a result, not only that restaurants have to struggle with high fuel costs and inactive economy, they also have to struggle with higher food costs with poorer quality. For example, a restaurant used to offer a bowl of pasta at $8.95. However, in the late August, the price jumped to $9.95. Eggs cost 18% more than they did a year earlier. Restaurants need to adjust menus, reduce portion sizes, even consider staff cuts, and also increase prices of their food in order to sustain their businesses.Experts predict that the overall food costs could possibly rise at 5% to 20%. In consequence, customers are less seen out in restaurants. This relates to price mechanism and equilibrium. Lower supply of food shifts the supply curve to the left. This means that the amount being supplied and demanded is different. Producers then must have to raise prices to adjust to higher costs of production. In consequence, amount being demanded at a new price is decreased, setting a new equilibrium price and quantity. This is a downside for the producers since they must increase price to adjust to higher food costs, but because of that, less is being demanded. The restaurants can either choose to lower their price to the original in order to attract customers or remain at the increased price. Either way, restaurants are still affected.

This article talks of the increase in macroeconomic activity in Pakistan, particularly in agriculture and the service sector. Recently stable weather conditions have greatly helped the agricultural sector of the country especially in rice and cotton crops. The banking sector has greatly improved too. Statistics have shown that the budget deficit has dropped down to 2.5% of the GDP in 2011-12 lesser than it was in 2012-13.

As the war rages on, the drought worsens and with the prediction of late rainfall ,the only thing that the somalians can do is pray for some luck as the rest of the world tries to help there hopeless situation. Due to the war and the drought Somalians are forced to flee leaving there unripe and unharvested crops behind, to only raise the price of food and worsen the food crisis. The article states that the worst has past of the drought but that the region still remains in emergency level 4, on the IPC scale. The article also talks about how the rescue organizations need to set up a long term exercise instead of coming in and helping when the drought occurs but rather prevent the whole crisis during the drought.