Recent flooding in Australia, have driven up prices for items ranging from coffee beans to beef Prices of corn and soybeans, used as feed for cattle and chicken, have leapt over the past six months, pushing up meat prices As a result, meat prices have also increased Restaurant chain Johnny Rockets, known for its burgers, uses about eight million pounds of ground beef a year, and its prices have risen over the last two months, says Ray Masters, senior vice president of purchasing and distribution HOW DO I EXPLAIN THE ROLE OF DEMAND AND SUPPLY IN THIS SCENARIO ABOVE

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Question: Recent flooding in Australia, have driven up prices for items ranging from coffee beans to beef . Prices of corn and soybeans, used as feed

Recent flooding in Australia, have driven up prices for items ranging from coffee beans to beef. Prices of corn and soybeans, used as feed for cattle and chicken, have leapt over the past six months, pushing up meat prices. As a result, meat prices have also increased.

Restaurant chain Johnny Rockets, known for its burgers, uses about eight million pounds of ground beef a year, and its prices have risen over the last two months, says Ray Masters, senior vice president of purchasing and distribution.

HOW DO I EXPLAIN THE ROLE OF DEMAND AND SUPPLY IN THIS SCENARIO ABOVE

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