Demand and Supply in Action - Recession boosts fast food demand
Sunday, January 15, 2012
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The recent recession has led to a surge in demand for fast food. This means that 50.4% of all meals eaten out of the home are now at a so-called quick service restaurant, up from 47.3% just two years ago. The term quick service restaurant is used by the industry to describe any outlet where the consumer queues to buy take-away food so includes coffee shops.
The recession, and the subsequent squeeze on disposable income, has encouraged millions of families to cut back on spending on luxuries, especially on meals in restaurants.
This would be a great case study for students to use their demand and supply diagrams to show this change.
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