Author(s): Elena Hošková, Martin Richter, Iveta Zentková
Title: Nutritionally Recommended Food Products Demand
Source: International Scientific Days 2018 :: Towards Productive, Sustainable and Resilient Global Agriculture and Food Systems :: Proceedings
Publisher: Wolters Kluwer ČR, Prague
PY, pages: 2018, 2605-2612
Published on-line: 2018-11-09
Abstract: The aim of this paper is to find out how the demand determinants influence the demand of selected food products in Slovak Republic. For demand determinants, in line with economic theory, we considered the own price of food product, the prices of other food products and the net income of the consumer. For the analysis were selected milk and diary products. The analysis was conducted in period 1998-2016. The regression analysis was applied to estimation of the functions of demand. From them, price and income elasticities of the demand were calculated. In tracking period decreased the milk and dairy products consumption in the Slovak republic very hard. According to the income elasticities of the demand the liquid drinking milk seems to be an inferior good for an average Slovak consumer. An increase in income can more likely lead to an increase in demand for curd, fermented milk products and cheese. According to own price elasticities of demand, demand for milk and milk products didn’t react elastically to the change of price. It is necessary to use also other policies, except of government price tools policies, to increase consumption of milk and dairy products.
Keywords: demand, elasticity, food products, nutritional recommendations
JEL Classification: D03
Rights:Open Access :: Creative Commons BY-NC-SA 4.0 International Licence
Toto dielo je publikované pod/This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International Licence.
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