The price of wheat has risen dramatically over the past two years as shown in the graph.
In the exam you will need to be able to explain the causes, effects and solutions of this rise in price… Remember changes in price don't just happen, they are a result of demand and supply side issues. Growing populations and extreme weather conditions have all played their part. Read this article here to find out about the causes of rising food prices.
Impact of rising food prices
Examiners like to ask you about the impacts of rising prices.
These videos here will give you some ideas.
These videos here will give you some ideas.
Tasks:
1. Draw a demand and supply diagram explaining why the price of wheat has increased
(6 marks)
(6 marks)
2. Evaluate the impact of rising wheat prices on the following groups (14 marks)
Think about the effect on different groups - farmers, manufacturers who use wheat, consumers.
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