Does the Fishing Industry operate on the supply side or demand side of economics?
- 4 months agoFavorite Answer
i would assume that you mean the ocean fisheries not the lake ones that breed their own fish.
in such case it is supply as there is finite amount of fish they can possibly transport betting that the yield will be enough to cover costs of crew, fuel and permits.
This MIGHT slightly differ between nations, dependent on expected amount of fish caught (based upon richness of body of water), in example if your country has insane amounts of sea life around it than it might just be demand driven, as in ships will be dispatched to get the ordered amounts of fish.
- OiyLv 54 months ago
I do gues that you don't mean the fishing community. In economics, the fishing community is an example of an equal, but a poor situation. The fishing industry instead is an example of negative externalities. It has to find a compromise for compensation. If not, it has to be strict regulations. And the industry will collapse like in many countries in Europe and Asia. Even, the UK wants its fishing industry back to let the fish die on British hands. So my answer is that it's on the supply side with regulations, subsidies and more.
- OwlTradingLv 74 months ago
good question. The answer may be found in the decline of Bluefin Tuna numbers