Berkeley becomes the first city in the United Sates to place excise tax on all sweetened beverages. This tax is hoping to reduce the amount of sweetened beverages purchased and create a decrease in the volume of sweetened beverages consumer by the population.
The price of chocolate in the UK could almost triple as a result of an increase in the price in cocoa butter and other ingredients necessary to make this succulent and palatable treat.
The price for seating at sports events have always been considered inelastic, because of the need to fill up all the seats in the stadium, but as times change it seems that the prices for seats are becoming more and more elastic and are beginning to cost more per seat.
After an extremely poor grape harvest from 2012, there are predictions of a shortage of wine in the following years. The supply for wine will not meet the demand, knocking the market out of equilibrium.
The robusta bean, commonly used for making coffee, is going up in price as the result of the growing demand for coffee. The demand for the robusta bean has grown greatly over the last years as a cost friendly alternative to the more expensive arrabica bean. The gap in price between the robusta bean and the arrabica bean are closing in on each other, as more businesses are looking to minimist costs.