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(national) Geo, Dennis, Alvin, Gisselle, Tate

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Demand can be defined as the willingness and the ability to buy a product at a given price over a given period of time.

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The willingness and ability to buy something

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Regulation is the controlling of an activity or process, usually by means of rules.

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demand can be defined as the ability and desire to buy a good or services

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Discuss whether food prices are likely to continue rising in the future [8] (Group 3)

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Discuss whether food prices are likely to continue rising in the future [8] (Group 3)

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Regulation can be defined as the controlling of an activity or process, usually by means of rules.

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Discuss whether food prices are likely to continue rising in the future [8]

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Discuss whether food prices are likely to continue rising in the future [8]

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Test

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Regulation can be defined as the controlling of an activity or process, usually by means of rules.

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The willingness and ability to buy something at a given price

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Regulation can be defined as the controlling of an activity or process, usually by means of rules.

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Regulation can be defined as the controlling of an activity or process, usually by means of rules.

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Regulation is the controlling of an activity or process, usually by means of rules.

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One of the probable cause that may increase in demand of bicycle can be a decrease in price

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Discuss whether food prices are likely to continue rising in the future [8]

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Discuss whether food prices are likely to continue rising in the future [8]

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Demand is defined as the want or willingness of consumers to buy goods or services

Price can effect the demand for bicycles. The prices for bike are much more cheaper than cars because it doesn’t require a machine or a much production as a car. More will be demanded at lower prices than at higher prices

Quality can effect the demand for bikes. Bikes are much more convenient and easier to bring instead of a car. Bikes doesn’t require as much requirements as cars which is why some people might rather buy bicycles instead or cars

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Demand can be defined as the willingness and ability to buy a product or a service at a given price (group 4)

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Demand is the willingness and want of consumers to buy goods and services.

The demand for bicycles can be increased due to weather changes. For example, if the weather has no rain, then the demand for bikes increases. However, if the weather has rain, the demand for bikes decreases. Consumer demand for bicycles can also be increased by price changes. When the price decreases, the demand increases. However, when the price increases, the demand decreases.

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probable causes of increased demand for bicycle Group 4

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probable causes of increased demand for bicycle Group 4

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The demand of bicycles can increase due to several factors. A factor that can cause an increase in bicycle demand is the increase in price of other vehicles. Due to increase in vehicle prices like motorcycles and cars, people would turn to alternatives that have cheaper costs, like bikes. Another factor that can increase demand for bicycles is if it has a decrease in price. When bicycles decrease in price, demand of it would increase and more people would be willing to purchase bikes.

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Explain two probable causes of an increase in consumer demand for bicycles [6]

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Health and fitness

A growing awareness of health and fitness benefits may encourage more people to adopt cycling as a means of exercise concerns about sedentary lifestyles,obesity ,rates, and the desire for more active transportation options can call contribute to increased demand for bicycle

Environmental Awareness and Sustainable Transportation

growing concerns about climate change and environmental sustainability there's an increasing preference for eco-friendly modes of transportation. Bicycles are inherently green vehicles, emitting zero greenhouse gases and requiring minimal resources compared to automobiles. As people become more environmentally conscious, they may opt for bicycles for commuting, running errandsor leisure activities instead of cars or other motorized vehicles.

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Low prices

A higher demand in bicycles maybe in increase due to the fact that it has a lower price. e.g cars may use more matirials to produce rather than a byceylce

With people wanting more external benefit due to bicycles cannot cause pollution. e.g cars produce smoke were bicycles don't

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Discuss whether food prices are likely to continue rising in the future [8] (GROUP 3)

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Discuss whether food prices are likely to continue rising in the future [8] (GROUP 3)

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Demand can be defined as the consumer's wants to buy goods or services.

Why food prices might increase in the future:

Scarcity, since resources are limited which means food is also limited thus supply will decrease as time passes on which will lead to an increase in demand which will restaurants or any firm that sells food to increase their food prices.

Higher population, as time goes on, the population of humans in the earth will also increase which will lead to more demand for food to survive thus also influence restaurants to increase their food prices.

Inflation, in the future more money will be supplied/printed thus the value of money will decrease thus leading to high demand for goods thus influencing firms to increase their food prices thus also known as inflation.

Why food prices might NOT increase in the future:

Subsidy, in the future Governments may provide subsidy to firms such as restaurants to decrease their food prices due to their aim to prevent inflation from occuring.

In conclusion even though there are some reasons why food prices might not increase in the future however

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Discuss whether food prices are likely to continue rising in the future [8]

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Discuss whether food prices are likely to continue rising in the future [8]

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Inflation can be defined as the increase in a price of a product due to the decrease in value of the currency.

Food prices are likely to continue rising in the future because

Inflated Prices

Due to the annual inflation, the prices of food will automatically increase every year, this means that the price of food will always increase regardless of its supply.

Scarcity of Supply

Since the price of food might be cheap at the start, as more people demand it, the supply will not be able to keep up, automatically this will increase the price as the supply decreases overtime.

Increase In Population

Overtime, a country will increase its population as death rate decreases, this will ultimately end with a high population. The high population will cause demand for food to rise and therefore price to increase

Food prices are not likely to rise because

Government Subsidy

Governments might provide producers with subsidy, in return they will be able to produce more or decrease cost of production this will then prevent their prices from rising.

Technological Advancement

If a country invents a new technology that allows them to reduce the cost of production they will be able to reduce the price

In Conclusion Food prices are likely to increase because of the nature of economies, this includes inflation, the classic economic problem and a exponential increase in population. As the way to combat this rarely happens.

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Discuss whether food prices are likely to continue rising in the future(group 4)

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Discuss whether food prices are likely to continue rising in the future(group 4)

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The price changes of a commodity largely depends on its demand and supply. When demand exceeds supply, the commodity is treated as scarce and rare and price therefore increases. When supply exceeds demand, the commodity is unwanted and thus the opposite happens.

So to determine whether or not food prices are likely to continue rising, several demand supply scenarios can occur.

First is an increase in population of humans. With more population and more mouths to feed, demand for food increases as there is now more food needed to satisfy the population. On a demand supply curve, this would mean the demand shifts to the right while supply stays the same, so equilibrium price increases.

Next is a possible food shortage. Resources in the world is running out, whether it is the fertile land, or human labour needed to engage in agriculture. This leads to a fall in supply, because there is now less food produced. Supply curve shifts to the left and thus equilibrium price rises.

Another factor which may reduce food supply are external circumstances like climate, war, famines, and some tax implementations. This decreases the ability of suppliers to supply food to the market, supply curve shifts left and thus equilibrium price increases.

Economic factors involving the decrease in the value of currency, eg. inflation also affects the price. An increase in the supply of printed money decreases the value of every bank note of that currency. This means items of the same value will now "technically" worth more in terms of that paper money, so price visually increases.

However, this might not always be the case. For instance, technological advancements in agrimachines and other more efficient methods of farming would for sure increase supply, as it now takes less cost and time to produce the same result. Increase supply means supply curve shifts right, therefore equilibrium price decreases.

In conclusion, whether or not food prices rise in the future largely depends on whether or not demand or supply exceeds the other. Factors which influence this are therefore also the same factors which influence equilibrium price.