Microeconomics

Table of Contents

1. Topic pack - Microeconomics - introduction
2. 1.1 Competitive Markets: Demand and Supply
3. 1.1 Competitive Markets: Demand and Supply - notes
4. 1.1 Competitive markets - questions
5. 1.1 Competitive markets - simulations and activities
6. 1.2 Elasticities
7. 1.2 Elasticities - notes
8. Section 1.2 Elasticities - questions
9. Section 1.2 Elasticities - simulations and activities
10. 1.3 Government intervention
11. 1.3 Government Intervention - notes
12. 1.3 Government intervention - questions
    1. Markets - essay
    2. Price controls - short answer
    3. Price controls - numerical (1)
    4. Price controls - numerical (2)
    5. Calculating impact of a tax - numerical
    6. Calculating impact of a subsidy - numerical
    7. Agricultural markets - essay
    8. Cheap petrol
    9. World's food system is broken
    10. China plans price controls to curb inflation
    11. Bolivian fuel shortages
    12. Japanese rice subsidies
    13. Coffee shortages in Venezuela
13. 1.3 Government intervention - simulations and activities
14. 1.4 Market failure
15. 1.4 Market failure - notes
16. Section 1.4 Market failure - questions
17. Section 1.4 Market failure - simulations and activities
18. 1.5 Theory of the firm
19. 1.5 Theory of the firm - notes (HL only)
20. Section 1.5 Theory of the firm - questions
21. Section 1.5 Theory of the firm - simulations and activities
22. Print View

Agricultural markets - essay

Intervention in agricultural markets

Question 1

(a) Agricultural prices tend to fluctuate much more than the price of manufactured goods. Explain how a buffer stock scheme can help overcome this problem.

(b) "Intervention in agricultural markets is always for the good". Do you agree? Justify your answer.