Demand and supply in action - fall in demand for apples
Tuesday, September 22, 2009
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Consumption of apples has fallen by 3.2% in the last year, despite Government guidelines stating we need to have our five a day.
It would appear the reasons behind the decline in sales is due to a drop in popularity and consumers choosing more exotic fruits instead. This is a great example for teaching factors causing the demand curve to shift. One point being fashion and trends and that the trend is moving away from apples. Also with greater links with developing countries we are able to get other fruits (substitutes) at a cheaper price therefore causing the demand curve for apples to shift to the left.
To read more look at this article.
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