THE PRICE OF WHEAT 139 
one degree of competition which may affect the 
pply at a given time or place. 
2: <The establishment or abolition of trade re- 
ae aints by commercial treaties. For example, 
& cpnsider the probable effect on Canada’s wheat 
© -Sgereage if the United States tariff on wheat 
Thai be abolished. 
) The facilities for or hindrances to trans- 
portation. This factor was well illustrated 
at the close of 1914 when the Russian supply 
was held up owing to the closing of the 
Dardanelles to trade. 
(7) The variations in acreage resulting from 
variations in price. 
(8) Improvements in methods of culture; e.g., a. 
better rotation of crops. 
(9) The degree of the fertility of the soil. 
(10) New systems of agriculture extending the 
wheat regions; e.g., ‘‘dry-farming.’’ 
(b) Factors Operating on the Demand Side. — The 
demand for wheat at a given time is indicated by the 
amount of wheat which will be bought in a market. 
Causes effecting a variation in demand are :— 
(1) A change of taste in rye-eating and rice-eating 
countries due to a rise in the standard of living. 
(2) A diversion from the consumption of wheat to 
that of more flesh meat, owing to a rise in the 
standard of living in wheat-eating countries. 
(3) A decrease in consumption caused by a decrease 
in population and other disturbances due to a 
war. 
(4) The increase of population in such countries 
as Russia, where the taste for wheat bread has 
been acquired. 
(ce) The Equilibrium of Demand and Supply.—Under 
these two sets of influences prices fluctuate from day to 
