In the News

Inelastic Supply - The World Runs Low on Single Scotch Malt

Geoff Riley

6th March 2016

An almost perfect example here of inelastic supply in action. By law, all Scotch whisky must be aged for a minimum of three years and it takes several years for new distilling capacity to come online.

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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