In 2001 there was a crisis in the farming industry in the UK. The spread of disease meant many animals had to be killed. The government decided to compensate the farmers with a subsidy.
Explain what is meant by a subsidy and illustrate the effect of a subsidy in a market by using a demand and supply diagram. [4]
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In 2001 there was a crisis in the farming industry in the UK. The spread of disease meant many animals had to be killed. The government decided to compensate the farmers with a subsidy.
Explain what is meant by a subsidy and illustrate the effect of a subsidy in a market by using a demand and supply diagram.
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