Consumption of beef in the Czech Republic

Abstract

The paper is aimed at the demand for beef. Its objective is to evaluate the development of beef consumption in the market of the Czech Republic, and particularly to identify the factors affecting the level of demand for beef. It refers to the analysis of the development of beef consumption in the Czech Republic depending on its price and costs of the selected kinds of its near substitutes, when their relationships are evaluated through their relationships are evaluated methods of regression and correlation analysis. The paper proves statistically the existence of relations among these crucial factors determining the demand. There are, of course, other factors affecting the position and tendency of a demand curve. It refers, for example, to various tastes, customs, traditions, the degree of urbanization, the possible health benefits or risks, legislation or the expected decline or increase of prices of the particular kinds of meat. All factors mentioned above cannot be, however, included into the analysis because their values are not available and many of them cannot be even quantified. Results of the statistical analysis prove the fundamental role of final consumers in forming the demand for beef, when they are above all affected by prices of beef and its substitutes.

Keywords

• consumption
• beef
• czech republic
• statistical methods