Classic supply side factors in play in the article here
Questions to ask yourself for Unit 1
What kind of a good is sugar and is it elastic or inelastic?
Demonstrate the impact on a Supply & Demand diagram of a fire affecting Sugar Supplies from the main worldwide exporter.
Why is it that although export levels should remain the same from Brazil due to plentiful buffer stock there has been a price rise? Use another Supply & Demand diagram to explain this.
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