Thursday, August 30, 2007

Unit 1:The price of beef

British shoppers could pay more for meat because of the rising feed costs paid by farmers says this BBC clip.
< http://www.bbc.co.uk/mediaselector/check/player/nol/newsid_6960000/newsid_6966100?redirect=6966171.stm&news=1&bbwm=1&nbwm=1&nbram=1&bbram=1&asb=1 >

a) Does the rising cost of feed effect the demand for, or the supply of beef?
b) Draw a S&D diagram to show this change and the resulting increase in the price of beef

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