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1.0 Article Summary
The article by Borneo Post Online, titled “Prices of chickens and eggs up in Tawau” was on 16 August 2010. It reports consumers and traders’ reaction to high prices of chickens and eggs in Tawau by urging the Domestic Trade, Cooperatives and Consumerism Ministry to look into the matter.
2.0 Introduction
With rising of chicken feed costs, the price of chicken and eggs indirectly increase high. The rising of raw material costs will force the price rises (Rising raw material costs force price 2008). The consumers may choose another meat, such as beef, lamb and pork for replace the high price of chickens. As a result, the traders are very worries about the high prices of chicken will affect the demand of chicken.
The article “Prices of chicken and eggs up in Tawau” records that The Price and Supply Control Act will be amended to give the Domestic Trade and Cooperatives and Consumerism Ministry to look into the matter by control over the price of chicken in an effort to bring prices down. This report will examine its market in action, discussing demand and supply, and elasticity. In addition, a summary of all areas discussed will conclude this report.
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