Thursday, July 05, 2007

Unit 1: Supply and Demand: The rise in farm prices

This BBC video clip and article suggests farm prices will rise in the future due to various reasons

http://news.bbc.co.uk/1/hi/business/6270892.stm

< http://www.bbc.co.uk/mediaselector/check/player/nol/newsid_6290000/newsid_6290500?redirect=6290510.stm&news=1&bbwm=1&nbram=1&bbram=1&nbwm=1 >

a) Identify the demand factors likely to fuel the rise in prices
b) Identify the supply factors likely to fuel the rise in prices
c) Draw a S&D diagram to show these effects on farm prices

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