Does anyone have PED estimates for primary products.
My understanding is that the PED for commodities such as coffee and copper
is relatively price inelastic.
Thus one of the big issues facing LDCs who rely on primary exports is that
the increase in world supply results in a significant fall in price and,
given PED<1, a fall in export earnings.
But big assumption PED is <1! So any supporting data would be most
gratefully received.
Regards
Richard Young
AST Teacher of Business Studies, Economics & ICT
Deputy Head of VI Form - Year 12
Wood Green School
Woodstock Road
Witney OX28 1DX
Tel 01993 702355
Fax 01993 774961
www.woodgreen.oxon.sch.uk
BECTa/Guardian Secondary School Web Site of the Year 2001
[log in to unmask]
|