Financial Times: Coffee hits 10-year high as shipping bottlenecks squeeze supply
Article published: 8 Dec, 2021
IB Economics syllabus: Microeconomics (demand & supply, shortage)
This is a Financial Times article about the demand and supply of coffee boosting its price on global markets. I think this is a great article to show you how the major factors can affect global prices of agricultural commodities (in this case, coffee). Yet, I wouldn’t use this one for an IB Economics commentary. That is because while you can certainly explain the basic microeconomics concepts, such as demand and supply and market price with the use of an appropriate diagram, there is not a lot to evaluate. It is usually easier to evaluate economic events when there is some sort of government intervention involved to solve a certain economic problem.
Yet, the article is still worthwhile to read so that you can use it as a source of real-world examples in Paper 1.
Source of image: Unsplash.com
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