An activity that stretches and challenges more capable students by getting them to apply their knowledge of demand and supply shifts and price elasticity of demand and supply. Ask them to read the attached article then answer the following questions:
Read the BBC news article from March 2016 detailing Britain's biscuit shortage and answer the following questions:
1. How have the demand and supply curves for biscuits been affected?
2. Why haven't the price of biscuits increased rapidly?
3. What impacts might there be in related markets?
4. How has Asda's experience of the crisis been different? How might this affect their elasticity?
5. Do all biscuits have the same elasticities? Justify your answer using the information from the article
Read the BBC news article from March 2016 detailing Britain's biscuit shortage and answer the following questions:
1. How have the demand and supply curves for biscuits been affected?
2. Why haven't the price of biscuits increased rapidly?
3. What impacts might there be in related markets?
4. How has Asda's experience of the crisis been different? How might this affect their elasticity?
5. Do all biscuits have the same elasticities? Justify your answer using the information from the article
Something went wrong, please try again later.
Thank you for publishing your resource. This resource has been chosen to be featured in the Australia newsletter.
Great resource. You deserve a biscuit ;)
Report this resourceto let us know if it violates our terms and conditions.
Our customer service team will review your report and will be in touch.
£0.00