AS Paper 1, June 2022Introduction to Markets and Market Failure
AS Paper 1, June 2022, Q2(c)
Explain one likely problem for the EU of maintaining prices at P .
Short answerExplain2 marks
Context
The Common Agricultural Policy (CAP) is a system of minimum prices and other programmes covering farming, environmental measures and rural development. The CAP applied to British farmers before the UK left the EU in January 2020.