Increase in Food Prices Food prices have jumped significantly in Malaysia for the past few months.
Increase in Food Prices
Food prices have jumped significantly in Malaysia for the past few months. This jump has created a lot of attention among the Malaysians. With a relatively fixed amount of income, the increase in food prices means lower purchasing power. The poor, in particular are going to be badly affected. Besides Malaysia, other countries throughout the world including the developed countries like UK, USA and France are all facing the similar problems. In some countries, protests and riots broke out. From Mexico to Pakistan, people demonstrated in the streets to express their dissatisfaction towards the rising food prices. Governments have to act fast to control the problem from getting worse.Assignment: Answer the following TWO questions: Using demand and supply analysis, explain 2 demand factors and 2 supply factors that lead to rising food prices in the world. Points to cover: Quick introduction to phenomenon of rising food price. Show some statistics