A good example to demonstrate the forces of demand and supply and the implications of rising prices:
The onion seems to be a “wakeup” call for the Indian economy- the rapid rise in onion prices seems to suggest slow economic growth, a weakening currency and an indecisive government. The rise in the prices of onions is classified as a “crisis” as onions are deemed as a necessity to Indian citizens. The problem is even more severe for the poor as the onions equal to a higher proportion of their income leading to an even lower standard of living.
Economists have used the onion to try and explain the state of the current Indian economy:
http://money.cnn.com/2013/09/12/news/economy/india-onion/index.html
dubaicollegeecon 