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Food and Nutrition EconomicsFundamentals for Health Sciences$
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George C. Davis and Elena L. Serrano

Print publication date: 2016

Print ISBN-13: 9780199379118

Published to Oxford Scholarship Online: November 2017

DOI: 10.1093/oso/9780199379118.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 23 September 2021

Prices

Prices

Chapter:
(p.75) 5 Prices
Source:
Food and Nutrition Economics
Author(s):

George C. Davis

Elena L. Serrano

Publisher:
Oxford University Press
DOI:10.1093/oso/9780199379118.003.0005

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.

Keywords:   law of demand, demand curve, price elasticity, shifts in the demand curve, demand function

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