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{
    "id": 467089,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/467089/?format=api",
    "text_counter": 279,
    "type": "speech",
    "speaker_name": "Hon. Wakhungu",
    "speaker_title": "",
    "speaker": {
        "id": 1889,
        "legal_name": "Chrisantus Wamalwa Wakhungu",
        "slug": "chrisantus-wamalwa-wakhungu"
    },
    "content": "On employment, we know that we have high rate of unemployment in this country. Research has shown that 70 per cent of the people who are unemployed are the youth. We have local industries here which process milk, bake bread or mill unga . In terms of production cost, if this cost is high, the price will definitely be high. In economics we have what we call “price elasticity of demand”. When the price goes up, the quantities that will be demanded or purchased will be low. If whatever the factories or industries are manufacturing will not be sold then they will not produce optimally and they will have overheads. On the economies of scale, they will be disadvantaged. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}