Purpose
The current economic recession has affected people all around the world, both directly and indirectly. We are interested in studying the effect the economic recession will have on people’s spending habits; specifically, whether expenditure on food necessities will change. It will be interesting to see to what extent a good that is considered a necessity will be subject to the principle of supply-and-demand characteristic of a normal market.
Terry Coxon, Sr. Editor /Investment Analyst at Casey Research, shares his thoughts on how higher food and oil prices will impact the economy.
