For most of human history, salt was a rare and valuable commodity that had to be either mined or extracted from the ocean through evaporation. This changed when modern chemistry allowed humans to produce it in factories. How did this development affect the market for salt?

Question

Quizplus · Accepted Answer

The development of modern chemistry allowed for the production of salt in factories, which increased the supply of salt. This increase in supply would have caused the price of salt to fall as there was now more available for consumption. Therefore, the best choice is D, supply increased, causing the price to fall.

For Most of Human History, Salt Was a Rare and Valuable