REQUIREMENT The outbreak of mad cow disease – led to a temporary collapse in the demand for British beef. The crisis led to the European Union banning exports of British beef with effect from March 1996; the ban lasted for 10 years before it was finally lifted on 1 May 2006. Use demand and supply theories to analyse the issue regarding nature of the industry, substitute goods, complementary goods due to price changes. Discuss the impacts on sales and consumer spending behaviour based on utility and elasticity of demand.