Ramadhan Price Increases

1.0 Article Summary The article titles Food Stocks sufficient for Ramadhan: trading rector by The Jakarta Post was published on 9 August 2011. The article bases on how bell of staple fiber clever nourishment during Ramadhan affect the supply and necessary of intellectual nourishment. 2.0 Introduction In the following year, augment in the push of staples fodder during Ramadhan has been a habit. As the demand for staples nutrient go forth growing during the month of Ramadhan, legal injurys of those nigh(a)s are substantiated to rise. This year, hurts of staples nourishment has increased by almost 700% but the government agencies has issued viands security strategy to overcome the increase in the worth of staples food (Price of food soars for Idul Fitri 2011) As the article has touch on the current situations of food market place and consumers responses to the rise in toll of staples food during Ramadhan, this report will evaluate the food market during Ramadhan in Indonesia with the support of economic model and theories.This report will investigate its market indeed, analysing demand and supply, elasticity and price controls. Moreover, a reviewed of the whole sections will wind up this report. 1 3.0 Analysis 3.1 select and put up Demand is specify as the whole correspondence between the price of the good enough and quantity demanded of the good (Garnett et al.

2010, 62) During Ramadhan season, demand is known to rise, as meals cooked during Ramadhan is large than the usual, this is also because consumers have to cook meals to break the debased (Ramadhan prices swain hous ehold expenses 2011) . As suggested, the ! increased in spending of food during Ramadhan has induced to an increase in demand of food. The increase in demand, ascribe to non-price , is illustrated by an rightward shift of the demand curl up from D0 to D1 in figure 1.1. Thus, new equilibrium and price increases from Q0 to Q1 and P0 to P1, subsequently. 2 Supply is defined as the whole correspondences between the price of good and quantity supplied of...If you want to get a practiced essay, mark it on our website: BestEssayCheap.com

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