Economics class: China’s ice cream brands outpace inflation with soaring prices
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.
Specification:
Demand & supply, inflation, market structures, elasticities of demand
Click to read the article below and then answer the questions:
China’s ice cream brands outpace inflation with soaring prices
Identify the 3 main causes of China’s soaring inflation
‘They (Chicecream) are trying to create a luxury image and pricing accordingly.’ Explain what is meant by an ostentatious good
Identify the factors which have enabled China-made goods to contest markets once dominated by foreign firms such as Häagen-Dazs
Evaluate whether popular brands such as Chicecream will be able to continue to raise prices without losing customers
Gavin Clarke, Emmanuel College
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