The Herald’s Viva magazine this morning had a round-up on the past year’s restaurant scene, ‘The Year in Food: What we loved and loathed in 2013‘. It’s a good article, even if I disagree on the attraction of communal tables in restaurants. And ‘raw’ cooking, if it comes to that.
It also provided the opportunity for another quiz, so here it is.
Context (quote from the Viva article):
“Failed restaurants … yes, we love a new restaurant as much as the next person but if the council keeps granting permission, without a massive influx of people to Auckland to support them, expect to see some close. Better planning please”.
Q1 What happens when supply of a service is restricted?
A Prices go up
B Choice goes down
C Potentially better providers get shut out
D Businesses unproductively invest in the approval process
E Incumbents get an unfair advantage
F The planning process gives market power to functionaries, who may abuse it
G All of the above
H Consumers benefit
Q2 Is keeping every incumbent business going a good aim of public policy?
C Both of the above
Q3 Why should new restaurants, or any other licit business, have to get local authority planning approval?
A Buggered if I know
B Sounds daft
C Mostly A
D Mostly B
Ed: Originally appeared at EconomicsNZ 18 December.