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Coffee shortages in Venezuela

Read the article Venezuelan shoppers face food shortages and then answer the questions below. You can either read the article in the window below or you can follow the previous link to read the article in a separate window.


Question 1

Using supply and demand diagrams, as appropriate, show why there have been coffee shortages in Venezuela.

Question 2

Discuss the effectiveness of price controls as a policy to reduce inflation.

Question 3

Analyse the impact of the price controls on Venezuela's major economic targets.