conclusion on effects of changes in the price and other factors on supply of commodity
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Answer:
ABSTRACT. The purpose of the paper is to investigate
the influence of changes of commodity price level in the
world commodity exchanges on variation of general price
level index in Lithuania. Object of the research is
commodity price level in the world commodity exchanges.
The methodology applied is following: study of the recent
scientific literature, collection and analysis of statistical
data, correlation regression analysis. The conclusion can be
made that variation of general price level in Lithuania
depends on changes of commodity prices in world
commodity exchanges, mostly from the prices of
aluminium, cocoa, coal and oil. Regression function made
with analysed commodities is adequate to real situation and
chosen variables X explain the 64% of inflation variability
and 36% are explained by other factors. The results show
that the determinate regression function could be
practically used to forecast the dependence of inflation rate
on the particular factors.
Explanation: