Factors Affecting Commodity Prices in Kenya (Essay Sample)
The more the volatility, the larger the price range from low to high on a daily, weekly, monthly, or longer-term basis, and vice versa. Volatility has a difficult to quantify the effect, but it is often regarded as bad since it creates uncertainty about future price levels. Commodity prices are typically priced inelastic, which means that if demand for raw resources spikes unexpectedly, the worldwide output will not be able to keep up.
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Factors Affecting Commodity Prices in Kenya
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Factors Affecting Commodity Prices in Kenya
Introduction
The percentage variation in a commodity's price from day to day is used to gauge volatility. The more the volatility, the larger the price range from low to high on a daily, weekly, monthly, or longer-term basis, and vice versa. Volatility has a difficult to quantify the effect, but it is often regarded as bad since it creates uncertainty about future price levels. Commodity prices are typically priced inelastic, which means that if demand for raw resources spikes unexpectedly, the worldwide output will not be able to keep up. When prices rise or fall, mines cannot abruptly boost production levels, and consumers cannot always substitute one metal for another.
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