Explain why the price of electricity has increased

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Reference no: EM133401474

Questions:

(a) Using your knowledge of economics and how markets work illustrate and explain why the price of electricity has increased so much over the past 18 months throughout the EU. You should consider the concepts of supply and demand and what was happening in the world at the time in your answer.

(b) Using data from the CSO generate a multiple time series graph outlining how the agricultural input price index and the agricultural output price index changed from November 2021-November 2022. Comment on the changes in both of the index numbers over this period. What is the inflation rate in agricultural inputs and outputs over this period? What do you think caused this inflation?

(c) How much did (i) milk and (ii) cereal prices increase by between November 2021 and November 2022? What factors contributed to these price increases? Illustrate and explain your answer, using two separate demand and supply diagrams.

(d) Using a demand and supply diagram illustrate and explain what has happened in the market for face masks over the past three years.

Reference no: EM133401474

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