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Sagot :
Decreasing the supply of oranges, while increasing the total spending by consumers on oranges.
How does a crop failure impacts economy?
One of the most obvious ways that catastrophes harm agriculture is through decreased productivity. Farmers have acute financial losses as a result, which have the ability to extend across the entire value chain and have an effect on the development of a sector or entire national economies.
Crop failure negatively affects a nation's economy, particularly if it is reliant on agriculture, farmers' incomes, and the amount of food that is available for consumption.
Economic development is impacted by both the direct and indirect contributions that agriculture contributes to the overall gross domestic product (GDP) of the United States. This is accomplished through the operation of farms, forests, fisheries, textile factories, sales of apparel, food, and drinks, as well as manufacturing and service industries.
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