Income and food demand
Zhang‐Yue Zhou
Abstract
Zhang‐Yue Zhou
Abstract
Studies have confirmed that, for a given population, income is the single most important factor that affects the demand for food. Not only does it affect the amount of food demanded, it also affects the composition of food demanded. This chapter addresses the impact of income on food security. It first demonstrates how the level of income affects the quantity and composition of food demanded. This is followed by evidence at the national level that shows how food demand is related to income changes. This chapter sheds light on the importance of developing adequate policies to improve consumer income.
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Studies have confirmed that, for a given population, income is the single most important factor that affects the demand for food. Not only does it affect the amount of food demanded, it also affects the composition of food demanded. This chapter addresses the impact of income on food security. It first demonstrates how the level of income affects the quantity and composition of food demanded. This is followed by evidence at the national level that shows how food demand is related to income changes. This chapter sheds light on the importance of developing adequate policies to improve consumer income.
Key concepts: Economics, Natural resource economics, Business, Agricultural economics