This article from the WSJ is a great example of supply and demand in action.
- It shows that the price of hops increases as the demand for them increase.
- It shows that the increase in the price of hops reduces the supply of hoppy beers and increases the supply of session beers.
Put on your fortune teller hat: What do you predict will happen to the number of acres of land farmers use for hops? What do you predict will happen to the price of hops in a few years?
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