Increased in Wheat Prices and Maid’s Pay (a Micro-Economics Perspective Report)

INTRODUCTION 1. Micro-economics is the study of the choices that individuals and businesses make, the way these choices interact in market, and the influence of disposals.1 This incubate analyses the micro-economics of 2 newspaper obligates - Bakeries Raise Prices As Cost Of stubble Soars and Pay Hike As Supply Of Maids Dries Up, found on perspectives of micro-economics theories, principles and concepts. ARTICLE 1 - ECONOMIC ANALYSIS ON BAKERIES RAISE PRICES AS COST OF WHEAT SOARS 2. Summary of Article. This clause highlighted the issue of sorry wear (Land a actor of Production) and how it affected the basic commodities needs of the people (consumers). Bakeries raise prices imputable to the increase in cost of wheat and related commodities. This testify was due to the global shortage of wheat because of bad stick out in wheat producing countries and the imposition of banishments on exports through government interventions. The price of flour has risen from S$29 to S$32 per 25kg in just 2 months. Rise in prices of soya beans and sugar led to further increase in prices of flour-based products. This burden is being transferred to the consumers. An increase in price of 5% to 10% is seen in flour-based products for both local and export sales.

If bad weather continues, the increase in prices of these weather dependent crops pass on continue to rise. Consumers result have to spend more or choose other alternatives since the next price review will only be done in 6 months time. 3. Factors of Production. This article illustrates How goods and services ar produced (one of the 4 categories of Factors of Productions): a. Land. Wheat is grown on land and depends on weather for their growth and harvesting. Bad weather such as floods in Australia or drought in Russia where majority of the worlds wheat and other crops are produced, have great impacts on the quantity for harvests and exports. Russias ban on export had caused the worlds supply to pickpocket rapidly since... If you want to get a full essay, vow it on our website: Orderessay

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