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Case study: The Common Agricultural Policy of the European Union - Essay Example

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The EU unified approaches to pricing seemed determined to deliver the best measures to ensure that farmers to the member states were not threatened by the problems of reduced and overproduction of their produces. EU members conformed to the call for a unified pricing approach…
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Case study: The Common Agricultural Policy of the European Union
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"Case study: The Common Agricultural Policy of the European Union"

Download file to see previous pages The demand of a product rises whenever its supply dwindles and it is likely that the demand will decrease on increased supply of the product in question. For the EU CAP policy, the establishment of a “minimum price” for the entire member states to embrace is a realistic approach to the reduction of uncertainty for the member countries. The use of a minimum price approach affects the EU’s demand and supply practices for agricultural goods. The implications of a minimum price approach are that the supply of the agricultural products presented by different farmers from different countries to the union will increase according to every slight increment in demand.
The obvious reason to the positive elasticity whereby the price remains constant is that the farmers will not be competing to produce and exploit the market rather than produce and sell in accordance to the level of demand. The graph ascertains that the demand and supply curves are likely to show positive congruence to the law of demand since the union’s minimum price is a constraint to over or underproduction of agricultural products during the high and the law seasons. Further, the EU consumers shall be contented of the availability of supply despite the seasonal changes hence they will not increase their marginal consumption patterns.
The use of price quotas in the EU is abundant solutions to ensure that the agricultural market within the member states conform to the ideal needs of the organisation. Certainly, the imposed quotas restrain the prevalence of overproduction since the farmers acknowledge that the governments that make the EU do not seek to bar growth in output but rather target to ensure that the markets are adequately supplied with reduced rates of scarcity and over production (Armstrong 2008, p. 8). The union use of subsidies and incentives to discourage the cultivation of the use and application of tariffs and quotas in the EU engage the ...Download file to see next pagesRead More
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