Shopping bills on the rise as crops freeze - Supply and demand
Monday, January 11, 2010
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As pupils return to schools and panic over salt reserves starts to ease, you would be forgiven for thinking the negative effects of the big freeze are coming to an end. This many not be the case however as some farmers have been unable to harvest their crops. In addition many milk producers have had to throw away their stock as delivery tankers have been unable to get through. This of course should push the prices of these goods up as supply decreases. Click read more for a GCSE style question to go with the article.
Using a supply and demand diagram, explain how the big freeze might alter the price of milk in shops. (6 marks)
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