With costly bananas, apples and grapes, orange becomes favourite fruit this season - 7 views
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Maria A on 06 Oct 14In India, bananas, apples, and grapes have been growing price. As the law of demand states, this would lower its demand. Oranges are growing in demand due to its low price. The changes in demand of fruits in India describe the relationship between demand and price.
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Stamenkovic A on 12 Oct 14Hey, I like your article because it really links to the Demand topic we did last week. The article is clearly describing the increase in demand of oranges because its substitutes' (apple, grape, banana, etc) experienced the increase in price due to the damage of plantations, and thus their demand had decreased as well. The price of oranges in this part of India stayed the same (Rs40 per kg ), and the price of its substitutes increased from Rs40 per kg to Rs50-60, per kg. The orange demand curve will be shifted to the right because one of the 'ceteris paribus' determinant has changed, and the apple, banana, or grape curve will experience the movement along the curve (the slope) as the price will go up and quantity will decrease. Andjela :)
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Piskin A on 15 Oct 14Hey, I also enjoyed the article even though I wanted to share this article and got a little upset when I saw you have already come across with it. Anyways, I think this is really a good and pure example of the law of demand as you state since the damage on the substitutes of orange increased their price. But I also think that enterpreneurs should aim to supply the substitutes because I think that organic food industry is a fragile market and they should somehow balance the prices. But until then, I guess I'll be okay with oranges :) Alp