Demand and supply in action - tea prices surge
The new Edexcel GCSE Business Unit 1 specification encourages students to look at commodity markets to develop their understanding of how demand supply interact to determine market prices.
Here is an excellent example of how two significant shifts in the demand and supply curves can affect the global price of a commodity. Failing crops and surging demand for tea is pushing prices higher.
As a leading exporter of tea, Keyna is benefitting from the surge in prices, after suffering from higher production costs in recent years.
Join Jim Riley and the tutor2u BUSS4 team for an intensive day designed to prepare students for the challenges of BUSS4 in June 2015. Each of the five workshop sessions introduces and builds effective essay planning and writing technique. We do this in the context of looking at both Manufacturing in the UK (Section A) and core topics for Section B including leadership, change management, technology, strategic choice and globalisation.