ABSTRACT
It must be borne in mind that since, in LDCs, consumption of food accounts for a high proportion of income, a rise in food prices, given an inelastic supply, could have an adverse impact on the whole economy.
It must be borne in mind that since, in LDCs, consumption of food accounts for a high proportion of income, a rise in food prices, given an inelastic supply, could have an adverse impact on the whole economy.