Question

In: Economics

To complete your discussion assignment, please do the following: Identify what you consider the most valuable...

To complete your discussion assignment, please do the following:

  • Identify what you consider the most valuable or important commodity that emerged in the American West. Write an explanation of the reasoning behind your choice, then answer the following questions:
    • What challenges threatened the commerce of your chosen commodity?
    • How were they resolved (if they were)?
  • When you are done, post your work to the discussion forum.

Respond to at least two of your peers. Discuss further the challenges and resolutions and what long-term effects they might have had on the changing landscape of the West.

Solutions

Expert Solution

The valuable or important commodities that emerged in American West are gold, coffee, cars,crude oil,etc. This valuability is based on the highest import and export that the nation has witnessed.

However,for my opinion the coffee has been the most important of all. This is so because there is a high demand of coffee-as a beverage because it is highly consumed there And also there as we know that seevser sector is highly developed so it can be seen that during working hours mostly preferred beverage is coffee.

The challenges faced by this commodity in the commercial market is basically the inequality in demand and supply. Thus,this commodity was available only for the higher class of society with a good nunnum of income. So,the main issue faced in trading was the consequences faced by excessive consumption of coffee which leads to addiction and thus making it an unofficial one and hence easy trading was avo made unofficial.

The pros and cons of the trading of coffee may have been of significant value because the higher demand and insufficient supply brings in the disturbance in economy by causing instability. Thus,the higher demand has to be met and for this a mid way was sorted,which aimed at lower export of the commodity and utilising this domestic production for satisfying the domestic needs. This was deliberately do e because any instability will only bring discourse to the economy which will have an overall adverse impact.


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