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Challenge Question Number 1 for Commodity Broker #1178

 Related Subject(s):
Agricultural Studies
Business & Accounting Studies
Marketing/Merchandising
Political Science/Law
 Related Soft Skill(s):
Analyzing Information
Collecting Information
Decision Making
Locating Information
Understanding Written Information
Describe a typical "challenge" encountered in your work:
Commodity brokers must understand the law of supply and demand. Changes in supply and demand of a product or service affects prices. A commodity broker tries to anticipate changes and then helps his customer react based on the customer's needs.



Clearly describe what you expect from the students:
Wheat, which is used to make bread, is a commodity. Students should determine how changes in the wheat price may change the price of a loaf of bread.

1) Discuss how changes in the size of the wheat crop can change the price of wheat and ultimately the price of bread. How do weather conditions affect the price?

2) Talk about how changes in demand (foreign export) can change prices.

3) What other conditions can affect the prices?



In order to give the teacher some guidance in evaluating the student's project(s); list some tips that may help to assess the student's work:
1) Students should research the cost of a loaf of bread at the local grocery store.

2) Students should research the price of wheat futures. Use the "Des Moines Register," "Wall Street Journal" or the Internet.)




 
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