Submitted by: Submitted by charmaine1995
Views: 10
Words: 846
Pages: 4
Category: Business and Industry
Date Submitted: 09/14/2015 01:55 AM
Article No.2 : Subsidies for food operators using healthier ingredients
1.0 Summary
Summary
Health Promotion Board has recently introduced a healthy eating option for all eateries to promote the use of healthy cooking oil with low saturated fats contents for cooking. Suppliers that bringing healthy cooking oil with not more than 35% of saturated fats will entitled to a subsidy of 50 cents per kilogramme under the first phase of Healthier Ingredient Subsidy scheme. The subsidised amount that complied by HPB will be reviewed by both industry members and experts for every 6 months. Over the next 3 years the subsidy will also be introduced to other ingredients such as whole grain noodles, wholemeal bread and brown rice. The subsidy quantum had not been fixed but the pricing will allows consumers to be able to choose between healthier and regular ingredients that will increase the demand of needs from consumers. Under this scheme wholesalers must submit an audit report every 6 months to proof that the full subsidy amount is captured into the invoices that helps to save food costs for all consumers. The Health Promotion Board will issued all food outlets that using healthy ingredients a Healthier Choice decal. Suppliers see the needs that more eateries will switch to a healthier choice.
1.1 Introduction
In the following report, we will see how the theories are being implemented based on the article. The theories that are found in this articles are the theory of demand and supply, effects of increase in demand and decrease in supply.
1.2 Application of theory
* Theory of Demand
* Theory of Supply
* Effects of increase in Demand
* Effects of decrease in Supply
2.0 Definition of Microeconomics Theories
Demand
The Quantity demand of any goods and services is the amount the consumers plan to buy during the given time period at a particular price ceteris paribus.
Law of demand
The law of demand states the quantity of goods and services...