Planet money: The Price Of Rice In Japan
IB Economics syllabus: Microeconomics (demand and supply, non-price determinants)
This interesting short podcast is about the market of rice in Japan, and how it has changed over the past decades. It answers an exciting question: how on earth does the price of rice keep going up even if there is a lower and lower demand for it by consumers? It turns out it’s because of COWS!!!
Source of image: NPR
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