Economics class video: Can winemakers adapt to climate change?
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This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.
Specification:
Demand and supply, specialisation and trade and elasticity
Click to watch the short video below and then answer the questions:
Using demand and supply analysis, what is expected to happen to the price of French wine in 2021 given the information in the video. Explain your answer
Explain the concept of comparative advantage and discuss how climate change is disrupting the comparative advantage for countries like Italy and the USA
Given the information in the video, is the average global price for wine likely to increase or decrease by the year 2050?
Using the video and your own knowledge, discuss the price elasticity of supply for wine
Gavin Simpson and Pete Clift, Economics In Ten podcast
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