One of the finest production of a JC1 student with clear application of the 4 Step Ace Approach in explaining how economic tools like subsidy and price ceiling can be used to reduce the high food prices.
Good job keep it up!
Introduction
Define economic tools
Subsidy
Price ceiling
A
The government can make use of subsidy to reduce the high food prices
Price ceiling can be used to reduce the high food prices
C
Draw diagram of subsidy
Explain how subsidy can be reduced with subsidy
Decrease in cost of production
Decrease in price of food
Draw diagram of price ceiling
Explain how price ceiling affects food prices
The price of food will be decreased by government
There will be decrease in supply and decrease in demand shortage
