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3 years ago

Why do we hav food price inflation?

Business

2 answers:

umka21 [38]3 years ago

7 0

Food Prices Rise for 4 Reasons

Grocery prices have risen 2-3% each year since 1990. There are four causes of this inflation in world food prices.

First, high gas prices prices lead to higher food prices. Food is transported great distances, especially if imported. That raises shipping costs, which translates into higher food prices. High gas prices are caused by high oil prices cause high gas prices. It usually takes about six weeks for increases in oil futures to translate to the pump.

Oil byproducts are also used to make fertilizer. That contributes 20% of the cost of raising grain. Higher oil prices increase corn, wheat, and soybean cost by 40% between 2001 and 2007.

Second, the U.S. government subsidizes corn production that is used for bio-fuels. This takes corn out of the food supply, raising prices. America now uses 40% of its corn crop to make ethanol. That's up from 6% in 2000. (Source: "Oily Food," The Economist , October 10, 2015)

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alexdok [17]3 years ago

3 0

Grocery prices have risen 2-3% each year since 1990. There are four causes of this inflation in world food prices.

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The calculated value of the Z statistic to test the potential buyer's belief at the 1% significant level is -2.57512627.

The calculated Z score is slightly greater than the critical value of -2.575, the potential buyer's view that weekly store revenues are less than $7,000 stands vindicated.

Since store revenues are assumed to be normally distributed and population standard deviation is given, we can use the Z-test. The relevant test statistic is the Z-score.

We use the following formula for calculating the Z score:

Z = (X - μ) / (σ /√n)

Substituting the relevant values we get,

Z = (6400 -7000) / (1042/√20)

Z = -600 / 232.9982833

Z = -2.57512627

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3 years ago

It is said that in a perfectly competitive market, raising the price of a firm's product from the prevailing market price of $17

stich3 [128]

Answer:

could likely result in a notable loss of sales to competitors

Explanation:

In the case of the perfect competitive market wheen the price of the firm is increased from $179 to $199 as compared to the prevailing market price so this means that there should be the loss with respect to the sales for the competitors or rivalrs as this would result the firm to lose its overall shares to its rivalry

Therefore the above statement should be considered true

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2 years ago

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nadya68 [22]

Answer:

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while

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3 years ago

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Sloan [31]

Answer:

Functional need

Explanation:

Functional need -

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3 years ago

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KonstantinChe [14]

Explanation:

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3 years ago