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what are some economic factors within the cereal industry?

what are some economic factors within the cereal industry?

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Answer #1

Economic factors for cereal industry can be of supply-side and demand-side.

For supply side, the basic factor is Price of oil which essentially determines the cost of Packaging and distribution. Hence, a rise in the price of oil can have a significant effect on Cereal industry.

For demand side, employment and income level of consumers are crucial factors determining the demand for cereal.Higher the employment and income level, higher the demand for cereal products.

Location of the firm matters. Ideally, the firm should be located near the site of raw material, labour and logistics facilities.

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