Econ graphs

Individual behavior: consumption

How does consumption change when people are given varying quantities of a specific food or vouchers, coupons and debit cards for that food?

Foods not traded over long distances

What drives the price and quantity of foods not traded over long distances?

Foods that can be sold to others (from autarky to exports)

How do production, consumption & well-being change when people can sell to others?

Foods that can be bought from others (from autarky to imports)

How do production, consumption & well-being change when people can buy from others?

In the world as a whole (no possibility of trade with elsewhere)

draw and label the market for milk, as if that market were perfectly competitive in the world as a whole, which has no trade with elsewhere

For a community that exports dairy (for example, New Zealand)

draw and label the market for milk, as if that market were perfectly competitive in a country that exports dairy products, such as New Zealand or Ireland

For a community that imports dairy (for example, Germany)

draw and label the market for milk, as if that market were perfectly competitive in a country that imports dairy products, such as Mexico or Germany.

What if consumers cannot detect product quality?

What happens when consumers cannot know whether a product is of high or low quality?

What if there is only one seller? (monopoly)

What happens when there is only one seller

A market with just buyer of the thing (monopsony)

What happens when there is only one buyer for each type of product?

Why is other work often done by big companies, while most crop production is done by family farmers?

scale economies, difficult to supervise farmers, big companies have low marginal cost for additional units

Why do people often eat similarly at each place and time, but differently elsewhere?

similar prices, similar incomes, similar cultural preferences

Why is farm production similar among neighbors, and different from farming elsewhere?

similar production possibilities driven by the natural environment and available technologies, similar prices

price increase, decrease, tech change, environment change

price increase, decrease, tech change, environment change