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Assessment of the development of milk prices in selected EU countries
BICKOVÁ, Miroslava
Objective of this thesis was to describe and evaluate the development of milk prices in selected countries of the European Union and The Czech Republic. The theoretical part describes the definition of price, pricing, division of prices, factors affecting the consumption of milk, the connection between consumption, price and income. The thesis also analyzes the particularities of agricultural prices compared with prices in other sectors. It was drawn from literature of Czech and foreign authors. In the methodical part there are described statistical and economic calculation methods. The development of milk prices in each selected EU countries is described in the practical part. Analyzed countries were not chosen randomly. In this paper, there are selected three old states (Denmark, Italy, United Kingdom) and three new states (Lithuania, Poland and Slovakia) and of course the Czech Republic. Furthermore, the price development is assessed by means of price indexes, using analysis of longer time series. In the longer term series there is used the time series analysis, where a linear trend is modeled and a verification of the correctness of the predicted trend results is made. The time series is also examined from the viewpoint of seasonal fluctuations. The thesis is more interested in the national environment, efficiency of large milk producers. In the third part there is calculated the dependence of price development on income situation in each country and the impact of prices on consumption. Coefficients of income elasticity and elasticity of consumption were used. Price and income elasticity was compared in each country of the EU. The conclusion contains summary of results and performed discussion.
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