Our favorite vegetable, the great onion has been wreaking havoc on the Indian economy.
Prices have gone wild making Indian curries, a must for most Indian recipes, much more expensive. Prices have increased to over 500% in the past several weeks for our tuber like friend.
Read the Forbes article, The Mysterious Case of Levitating Onion Prices in India, by Sariatha Rai, to get an understanding as to what has led to such circumstances.
After reading the article read, watch the video below and answer the following questions.
1- What is it that is causing the price of onions to increase? Draw a diagram to support your answer. Label it correctly and explain it thoroughly.
2 -What type of PED does the onion most likely have in India? Explain. How might this be harmful to consumers? If prices continue to increase what could happen to the onion’s PED over time?
3- What policies could India put in place to help alleviate the problem? Thing both short term and long term.
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