2017•Oxford University Press eBooksRequires access
Prices
George C. Davis, Elena Serrano
Open publisher page 0 citations
Abstract
Chapter 5 focuses on how prices affect food and nutrition choices. This chapter presents and discusses the law of demand and the demand curve. The chapter explains the importance of the slope of the demand curve and how this relates to the price elasticity of demand. It also evaluates possible changes in food consumption, induced by a change in price, relative to a nutrient or food recommendation level. Factors that would cause the demand curve to change (shift) are discussed. The chapter explains the important difference between the demand curve and demand function. The chapter closes with some of the main empirical findings relating price to food choices and nutrition.