Blog
Demand & Supply in Action- Potato Harvest
David Carpenter
13th November 2012
The BBC have just put on their website an excellent video for AS Microeconomics. It's looking at the poor potato harvest and how the bad weather has caused prices to start rising significantly. Read on for the video.
This video would also be a great one for teachers discussing agricultural markets. You could bring in the concept of fluctuating prices and why supply is inelastic in the short term. Also, the video actually mentions futures contracts and so you could bring this into your discussion too.
If you've got any problems with the video about, click here to be taken to the relevant BBC webpage.