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Chipotle's supply of avocados have reduced and because of this the price of their food has increased. This involves a non-price determinant which is because it became harder to obtain a product its price increased which also caused the price of another product to increase.

I also choose this article because it was a good article about supply and i also like to eat at chipotles

P3.01 Favorite Article. Temitopes article is my favorite article because its about chipotle. This article covers pretty much all the aspects that we have learned so far. It shows demand, reply and elasticity all because of how chipotle increased the price because of the low supply of avocado.

In economy we always say food is always inelastic, diaries such as cheese, cheese, butter are considered necessity for people and the price should be inelastic with PED less than 1. As time is changing, the raise of price will cause less revenue, it's not as inelastic as it use to be. The government use to be the biggest clients and they have control over the elasticity of the product, which they aren't any more. There are also a lot more alternative to fluid milk as well. This is also relating to the FDA's view on butter, it use to be vilified and now it seem to be the best product available, people are buying butter, but as the price increase, they buy a little less. We see this change in restaurants as well, McDonald's are moving away from cheeseburger and pizza restaurant are putting less cheese on their product.

I think this shows how time also has an effect on elasticity. In the past dairy has been typically seen as an inelastic product but it is now viewed as an elastic product. There have also been growing amounts of substitutes to dairy products especially milk product substitutes.

This article looks into the reasons while dairy demand has become more elastic in recent years. In the past, demand for dairy products was fairly inelastic. However, that has changed. In the past, the US government purchased a large amount of dairy products which kept prices stable but that is no longer the case which has caused prices to destablize. Additionally, there are now many alternatives to fluid milk with more stable price. As a result, it has become the most elastic dairy product. Butter and cheese are less elastic. The article also mentions that restaurants and fast food restaurants drive the fluctuation in dairy demand.

Photograph by Scott Olson/Getty Images When rain doesn't fall in Iowa, it's not just Des Moines that starts fretting. Food buyers from Addis Ababa to Beijing all are touched by the fate of the corn crop in the U.S., the world's breadbasket in an era when crop shortages mean riots.

This article is about how Iowa is experiencing a drought and its not only affecting them, but the rest of the world. Stock piles of corn dropped by 48 percent between march and june, and it has been the biggest drop since 1996. The farmers could only hope to preserve what little crops they have left. Another comment i would like to add is that this article relates to our topic because the farmers would have to increase the crops to $6.75 a bushel. Recently the price for have dropped so as the price decreases, so will the supply, and will result in higher demand.

This article speaks about the increase in demand for organic food. I find this article really interesting as it speaks about how tastes and preferences, one of the determinants for demand pushes for this increase of availabilty in organic products. As evidenced by the article , consumers are now more conscious of what they eat and are adopting a healthier lifestyle. This information is really beneficial as not only can the organic food industry increase its sales , but all other industry related to health and fitness such as production of vitamins , fitness programmes , exercise machines can also react to this trend and increase their supply to meet the consumer's demand. It is also mentioned in the article that organic tea and coffee were highly in demand in 2014. Hence coffe cafes such as Starbucks and Coffeebean can also increase their sales if they react to the health conscious trend by introducing organic beverages in their stores. To conclude , it is important for producers to study the trends of consumers so that they can react accordingly in order to increase profits or avoid losses.

The article speaks about the decrease of shrinking food stockpiles (i.e. wheat) around the world resulting in an increase in demand for the good. Due to the slack of supply available for markets around the world the demand needed has increased. This is a result of multiple factors, such as weather. Overall, this is affecting the health of it's people and hindering trade.

What you need to know about Friday's Japan economic data: Core CPI excluding fresh food fell 0.1 percent from a year earlier (-0.1 percent forecast) following declines in September and August. So-called core core CPI, which excludes energy and all food, rose 0.7 percent (0.8 percent forecast).

Raise in market price of soda in Chicago is discussed. Will it result in an increase in revenue and reduction in consumption? The PED suggests so. A similar policy was introduced in Mexico, and the soda there had a PED of 0,6, making it inelastic. Will the same happen in Chicago? Demand, elasticity and the PED are discussed in this article.

How exactly has this affected the elasticity? You should elaborate on price and its relation to demand and the PED. I agree that the raise in price would increase revenue and reduce consumption. However you contradict your previous point by stating that soda will become inelastic. I don't agree with you because soda is not a necessity and it is not healthy so if there is a raise in price and PED which will cause demand to decrease meaning it is elastic.

Dairy prices have seen a drop lately because of high demand farmers increased the number of cows that produce milk, then again dairy is a primary product and as we learned this week, there is only so much a population can consume of a primary good, and too much supply with an un-proportional demand calls for a decrease in price in order to form another equilibrium.Although the PED for milk is inelastic, it's still a limited primary good and the supply of this having increased creates high PEs especially since season does not affect cows.

This article speaks about the increase in demand for oranges because weather conditions have damaged the harvest of other fruit, such as apples and bananas. These weather conditions have caused the fruits to increase in price because of the lack of supply available. As a result oranges became the number one choice because of its lower price, so people were able to get more for their money. However, the wealth of the company producing the oranges hasn't been shared with the people due to the cost of transportation. They will see if these result will change depending on the next harvest.

Bihar Confirms That Better Economics Is Better Politics New evidence that Indian voters are rewarding governments that deliver growth There isn't a shortage of explanations on why the BJP lost its way in Bihar - Modi's waning popularity, RSS and quotas, no strong local leader and even humble food staples like beef and dal.

Economic growth in Africa is expected to accelerate to 4.7% this year and 5% in 2015, but the advance is failing to translate into job creation and the broad-based development needed to reduce high poverty and rising inequality rates in many countries, the UN has said.