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Lecture 4: Common Agricultural Policy Based on Sloman Chapter 3.4 and Chapter 8, Swann

Lecture 4: Common Agricultural Policy Based on Sloman Chapter 3.4 and Chapter 8, Swann. CAP- The Common Agricultural policy. Massively complex, massively expensive policy. Hard to understand without seeing how it developed. CAP started as simple price support policy in 1962.

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Suppose we have a crop which takes a year to grow and is grown only once year,

Suppose we have a crop which takes a year to grow and is grown only once year,. P . e.g. Hops for Beer. S A. Suppose now that demand were to rise but supply cannot respond immediately. P 1. a. D A. Q 1. O. Q .

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Lecture 4: Common Agricultural Policy Based on Sloman Chapter 3.4 and Chapter 8, Swann

Suppose we have a crop which takes a year to grow and is grown only once year,