What's a recent example of a situation in which a surplus of a product led to...
What's a recent example of a situation in which a surplus of a product led to decreased prices and what eventually happened?
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ANSWER:
The recent example was the butter surplus in uk which led to decrease in prices as the crisis continued till the year 2016 which led to a lot of dairies closing out as the prices became too unsustainable to continue operating them and this led to shortage of butter in 2017 as farmers couldn't feed their cattle properly and so eventually an increase in over supply due to ban on eu imports by russia and other factors led to oversupply of butter and ultimately the shortage of it in 2 years time.
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