More Import Permits If Not Enough Chicken Essay Example for Free

More Import Permits If Not Enough Chicken EssayJITRA The government will issue permits to conditional relation chicken only if there is a shortage. Deputy Agriculture and Agro-based Industry Minister Datuk Johari Baharom s attend to this was unnecessary at the moment as there was a sufficient supply.There are abundant chickens to meet demand for the fasting month and Hari Raya , he said after having sahur (predawn meal) with villagers in Kampung Teluk Malek here yesterday. The local chicken farms produce between 1.4 million to 1.5 million birds per day and demand for chicken is less than 1. 4 million daily.The government will monitor the supply of chicken to avoid any shortage in the market, especially during the festive season. He said the farm price of RM4.70 per kg imposed since the beginning of the fasting month was reasonable, especially when compared with price in adjoining countries. He added that transportation costs and increase in demand were the contributing factor s to price increase.Adapted from New Straits Times, August 16, 2010a) What is market equilibrium? With the aid of a diagram, explain how it is determined? (4 marks) b) With the aid of a diagram, show the effect of an increase in demand for chicken in the domestic market.(4 marks) c) Explain ternary (3) factors that may influence the supply of chicken in the domesticmarket.(6 marks) d) What happens to the price of chicken in the domestic market if our government issue more permits to import chicken? Draw a diagram to support your answer. (3 marks) e) Explain any two (2) possible factors that may influence the demand for chicken. (3 marks)