Economics class video: Can we avoid climate-related food shocks?
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Synoptic: Macroeconomic policies in a global context, externalities
Click to watch the short video below and then answer the questions:
On an AD/AS diagram, explain the impact of climate-related food shocks on an economy
Using the video, explain why developing economies are more likely to be impacted than developed ones. Reference primary-product dependency in your answer
What role do international organisations have in dealing with these global issues?
In what ways can governments intervene in markets to make consumers move away from a meat and dairy based diet as suggested at the end of the video, as well as helping farmers move to more sustainable farming?
Gavin Simpson and Pete Clift, Economics In Ten podcast