Economics class: Champagne sparkles as low supply and fizzy demand boost prices
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Demand and supply, Factors influencing demand and supply, Price elasticity of supply
Click to read the article below and then answer the questions:
Draw a demand and supply diagram to explain why prices are rising for champagne
Explain one factor influencing demand
Explain one factor influencing supply
If harvests are good in 2022, discuss how this would affect the price elasticity of supply for champagne?
John Greenwood, Bromley High School for Girls