Authors :
S.N. Saha
Volume/Issue :
Volume 9 - 2024, Issue 9 - September
Google Scholar :
https://tinyurl.com/2ay6swst
Scribd :
https://tinyurl.com/mr4cvxfp
DOI :
https://doi.org/10.38124/ijisrt/IJISRT24SEP1475
Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.
Abstract :
The USA, a highly advanced economy in the
world, had experienced increase in household demand for
specific food items (restaurant and cafeteria supply, in
particular) in the early years of Cobid-19 pandemic.
People of America depended largely on the tastes and
habits of food items in their household consumption. Even
with increasing prices the demand for restaurant foods
showed increasing trends. This means that the
consumption of food away from home (FAFH) increased
and food at home (FAH) fell in demand in 2020 and 2021
(Covid- 19 pandemic).
Fundamental law of demand in economics (Ceteris
Paribus) for normal goods demand will fall if price of the
same increases and vice versa. In the present study, rise
in prices of normal goods (restaurant and cafeteria foods)
had also shown increase in their demand. This perhaps
shows paradoxical to the law of demand in economic
theory.
Methodology:
This is a study based on secondary sources of
information including research works, official
publications and those from academic institutions.
Analysis of data generated and narratives have been used
to find the contemporary food economy of the USA. The
demand for food (both FAFH and FAH) has been given
importance in the situation of food inflation in the USA in
early years of Covid- 19 pandemic. Finally, the
equilibrium of the household food consumption is shown
geometrically (Fig-1).
Findings and Results:
It is found from the study that while the price of food
away from home (FAFH) was increasing, the demand for
those was also increasing in 2020 and 2021 in the USA.
Food being a ‘normal good’ might have shown a fall in
demand when price was increasing. This is perhaps,
paradoxical in view of the law of demand in economic
theory.
References :
- K. Glanz (et. al) Why Americans eat what they do; Taste, nutrition, cost, convenience… Research Gate, Nov, 1998.
- https://www.federalreserve.gov
- USDA ERS 19 March, 2024
- Same as in sl. no. 3
- USDA ERS, 21 Oct, 2022
- Trends in US home food preparation and consumption analysis (1965-1966 to 2007-2008) - Nutrition Journal, 11 April, 2013
- Med Rxis 11.1.24, Bertrand et al
- Us Bureau of Labor Statistics May, 2021
- Wikipedia, https://en.wikipedia
- US Dept. of health and human Services office of minority health.
- Us population (2024), worldometer https://www. worldometer.info
- 20 food delivery and online ordering Statistics, Fundera, Jan 23, 2023
- App my site, Statista 70+ online food ordering statistics that every restaurant should know, Feb 13, 2024
- Fundera, 20 food delivery and online ordering Statistics, Jan 23, 2023
- Wikipedia, Covid-19 pandemic in the US, https://en. wikipedia.org
- Same as in serial no. 15
- Emerald insight, Food prices in the US during Covid-19, generated facts on price inflation and volatility, July 2, 2024
- The Digest, NBER, unpacking the causes of Pandemic-era inflation in the US, Paper 31417
- Same as in 61. No. 18
- USDA ERS Sep, 2018
- Covid-19 and the us Food system, Caitlin welsh 21May,2020
- Restaurant dining during covid-19 pandemic among adult with law income in the USA, PMC, March,2022
- Food spending shifted in response to pandemic USDA ERS Jan,29,2024
- Growth of digital restaurant food orders in the US, Statista RD, June 4, 2021
- Hacker news, USDA Gov. US consumers spent more on food in 2022 than ever before…
- Research Gate, J. Gao (et. all) The Covid-19 pandemic, rising inflation, and their influence on…, March,2023
- Statista Research Dept., Growth of digital restaurant food orders in the US between March’20 and March’21, June 04, 2021
- Locus
- Core sight research
- Inflation math is changing America’s dinner plans, NPR, all sides, August 2, 2024
- USDA ERS, US consumer spent more on 2022 even after adjusting inflation Sep 25, 2023
- Mintel, US full service restaurants market report 2022, store. mintel.com
- A Text book of economic theory, A. W. Stonier and D.C. Hague, Longman, Page 63
- Bank landing in the time of Covid, Federal Reserve Bank of Richmond Feb’ 2021
- Federal Reserve Bank of New York, August 6, 2024
- US, lending activity during Covid-19 Pandemic, October 11, 2021
- Statista, personal savings in USA 2015-2024 Aug 5, 2024
- A. W. Stonier and D.C. Hague, (op. cit) Longman, Page 6
The USA, a highly advanced economy in the
world, had experienced increase in household demand for
specific food items (restaurant and cafeteria supply, in
particular) in the early years of Cobid-19 pandemic.
People of America depended largely on the tastes and
habits of food items in their household consumption. Even
with increasing prices the demand for restaurant foods
showed increasing trends. This means that the
consumption of food away from home (FAFH) increased
and food at home (FAH) fell in demand in 2020 and 2021
(Covid- 19 pandemic).
Fundamental law of demand in economics (Ceteris
Paribus) for normal goods demand will fall if price of the
same increases and vice versa. In the present study, rise
in prices of normal goods (restaurant and cafeteria foods)
had also shown increase in their demand. This perhaps
shows paradoxical to the law of demand in economic
theory.
Methodology:
This is a study based on secondary sources of
information including research works, official
publications and those from academic institutions.
Analysis of data generated and narratives have been used
to find the contemporary food economy of the USA. The
demand for food (both FAFH and FAH) has been given
importance in the situation of food inflation in the USA in
early years of Covid- 19 pandemic. Finally, the
equilibrium of the household food consumption is shown
geometrically (Fig-1).
Findings and Results:
It is found from the study that while the price of food
away from home (FAFH) was increasing, the demand for
those was also increasing in 2020 and 2021 in the USA.
Food being a ‘normal good’ might have shown a fall in
demand when price was increasing. This is perhaps,
paradoxical in view of the law of demand in economic
theory.