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Modelling the Demand for Beef in United Kingdom in 1967-1996 The meat has always been one of the basic food groups that most of us demand on the market. As we can see from Graph 1 the consumption of one sort of meat, namely beef, during years 1967-2000 has a long-term downward sloping trend with the extensive variations in the first half of that period. How can we explain these fluctuations? Is there any reliable mathematical function by which means we could describe the demand for beef in the period 1967-1996? With the help of the econometric analysis program Microfit I tried to find an answer. Graph 1 The demand for beef during years 1966-2000 In an attempt to explain the fluctuations I developed four alternative models for the chosen commodity in Microfit where I was using the Ordinary Least Squares method and the data for subperiod 1967-1996. The four models...

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