Wednesday, February 27, 2008

Unit 1: The price of wheat at record levels

The BBC reports that the price of wheat has hit an all-time high

http://news.bbc.co.uk/1/hi/business/7264239.stm

a) Using the information in the article, explain what has happened to the demand for wheat
b) Using the information in the article, explain what has happened to the supply of wheat
c) Using a diagram, explain what has happened to the price of wheat

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