Abstract
Agricultural production is greatly affected by the un — ertainties of climate. The result is extremely variable yields, making in turn for markedly fluctuating supplies from year to year. By contrast demand is relatively inelastic. This situation leads in the completely ‘free market’ of perfect competition to price fluctuations and the well-known cycles of production and ‘cobwebs’.
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Sources and References
Agriculture in Britain Central Office of Information Reference Pamphlet 43 (H.M.S.O., 1967).
The Common Agricultural Policy Community Topics, No. 28, a booklet published by the European Community Information Service (obtainable free of charge from 23 Chesham Street, London SWI).
Agriculture in the United Kingdom and the Community Current Notes on the European Community, No. 1(European Community Information Service).
B. H. Davey, Trends in Agriculture, a booklet published by the Agricultural Adjustment Unit of the University of Newcastle upon Tyne (1967).
Copyright information
© 1970 C. T. Sandford and M. S. Bradbury
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Sargent, M.J. (1970). Agriculture. In: Economic Policy. Case Studies in Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15733-4_7
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DOI: https://doi.org/10.1007/978-1-349-15733-4_7
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