Every week I read through The Economist to pick out articles that may be useful for teaching in the classroom. I’ll be sharing some of my notes and the discussion prompts I’ve come up with in these weekly posts. For students, they can serve as guide-rails for your reading. For teachers, I hope they will be helpful for your teaching.
In 2012 the UK had a very poor harvests for grain and potatoes, which are major ingredients of many of the foods of UK consumers and also provide feed for much of Britain’s livestock. At the same time, there was a decline in real incomes of many UK citizens, especially those on low incomes.
When income increases, do both demand and ped of a good change?
I made a video response to the question. The answer may surprise you.
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Designed for JC2 students doing their revision, this series of videos will help you develop a deep understanding of the different elasticity concepts by learning about their similarities and differences, applying them to analysing different markets and thinking about how firms can use elasticity to aid them in their production decisions.