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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:

Champagne sparkles as low supply and fizzy demand boost prices

  • 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

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