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Marenne M

HPGCL starts process of slimming power generation bills - Economic Times - 0 views

articles.economictimes.indiatimes.com/...forced-outages-chief-engineers

production cost

shared by Marenne M on 18 Jan 14 - No Cached
  • improve efficiency of its thermal power stations and bring down cost of generation.
  • power distribution utilities in the state were turning to non-state players due to the high variable cost.
  • ring down the cost of generation at Panipat, Hisar and Yamunanagar.
  • ...1 more annotation...
  • analyse performance parameters, cost, heat rate, efficiency and safety at the plants every month.
  • Marenne M on 18 Jan 14
     
    This article describes how the Haryana Power Generation Corporation Ltd (HPGCL) is trying to bring down the cost of generation after an increase of competition due to the electricity act of 2003. Power Distribution companies in the state are turning to non-state generators due to the high variable costs of HPGCL. They are now trying to bring down these costs by more closely monitoring the heat rate, the efficiency and the cost.
  • Marenne M on 18 Jan 14
     
    This article describes how the Haryana Power Generation Corporation Ltd (HPGCL) is trying to bring down the cost of generation after an increase of competition due to the electricity act of 2003. Power Distribution companies in the state are turning to non-state generators due to the high variable costs of HPGCL. They are now trying to bring down these costs by more closely monitoring the heat rate, the efficiency and the cost.
Marenne M

True Costs of So-called Cheap Food | Ellen Gustafson - 0 views

www.huffingtonpost.com/...lled-cheap-food_b_4337423.html

'externalities of production'

shared by Marenne M on 26 Nov 13 - No Cached
  • when you look at the prices of so-called "conventional" junk food compared with local, organic fruits and veggies, on a calorie per dollar basis, the junk often wins.
  • Many people assume that it's the produce or organic foods that "cost more" than highly processed, shelf-stable ubiquitous and cheap junk food, but what if the price tags that we see don't tell the whole story?
  • hich requires acres of corn fields, seeds, gallons of water, gas for heavy machinery, pounds of fertilizer and sprays of pesticides, and government subsidies.
  • ...9 more annotations...
  • give them antibiotics, deal with their waste, transport them to slaughter, power the slaughter facility, refrigerate the ground meat and then cook it
  • processed wheat bun and condiments.
  • so efficient that all of those costs amortize over tons of ground beef and fixings to make a really cheap burger, or are there parts of that whole list of "costs" that don't actually show up in the price of our fast food burgers?
  • Examples of costs not currently factored into our food supply include the environmental outcomes of chemically-intensive and petroleum-intensive agriculture, costs for soil erosion, real water and irrigation costs, pesticide and waste runoff that creates dead zones in our waterways (like the "New Jersey-sized dead zone in the Gulf of Mexico" that stems from nitrogen runoff from our Corn Belt) and then affects the livelihoods of fishermen and shrimp farmers in the Gulf region.
  • Hidden health costs like our global obesity epidemic and the food-related public health issues of heart disease, diabetes, and cancer are certainly not included in the cost of your fast food meal.
  • unpaid externalities like low wages for food workers that often mean government subsidies like food assistance, which is what over 50 percent of fast food worker families are getting
  • "value" and "low prices" of cheap food that we see at the cash register, are not the whole story
  • We are paying today in our health and our taxes and our children
  • will be paying tomorrow with a degraded environment, dirty water, decimated communities and jobs, and denigrated health.
  • Marenne M on 26 Nov 13
     
    This article describes how processed food and fast food have many negative externalities which in the end makes them cost more than organic foods which are more expensive in the stores. Processed foods may be cheaper than organic food, however the pollution during the process of producing the food, the health problems involved and the low wages which are unpaid for are all consequences which in the end will make these foods cost more.
John B

The Chevy Volt's $89,000 production cost: A waste of money? - The Week - 0 views

theweek.com/...oduction-cost-a-waste-of-money

Production cost

shared by John B on 17 Jan 14 - No Cached
  • the environmentally friendly Volt's base price is about $40,000, says Reuters, production costs per vehicle run a stratospheric $89,000 — given the car's pricey lithium-polymer batteries, hybrid gas-electric engine, and next-age electronics. That means GM is losing $49,000 for each Volt it sells.
  • No. The investment in the Volt will pay off: The Volt represents "a long-term investment" that is helping GM become a car company of the future
  • Yes. The Volt will never be profitable: The Volt's high production costs "prove that the innovative plug-in hybrid is impractical and will probably never be more than a niche product,"
  • ...1 more annotation...
  • The Volt demonstrates to consumers that the "reinvented company is capable of producing a high-tech, fuel-efficient car," and the Volt's technology "will almost certainly find its way into" other cars in GM's lineup.
  • John B on 17 Jan 14
     
    This article is about a car made by General Motors. The company have, if we look at this as in the way that the car will never be profitable, made a huge mistake of miscalculating the costs and profits earned from the car. But if we look at it as if the car would be profitable, they might have thought of making a good car that will sell easily. It is a car that is environmental friendly, and this will affect the cars coming up in the same series. It will then be more of a long-run investment.
Haydn W

Coal India could have helped slash production cost by 12%: Power Companies - The Econom... - 0 views

economictimes.indiatimes.com/...28915293.cms

India Coal Energy Economic Times Production Costs Monopoly

shared by Haydn W on 17 Jan 14 - No Cached
  • KOLKATA: Coal India Ltd could have helped power companies save their production cost by 12%, or 35 paise a unit
  • The state-run monopoly coal supplier on Tuesday declared a dividend of Rs 29 a share.
  • CIL increased coal prices by a minimum 30% for all thermal coal used by power companies over the past three years
  • ...3 more annotations...
  • This enabled the company to increase its cash and bank balance from about Rs 45,000 crore during 2010-11 to Rs 62,000 crore in 2012-13,
  • Most of the additional reserves came from higher prices as production did not rise at the same pace. This fiscal year, the company is likely to miss its target on coal production by about 17 million tonnes and sales by some 15 million tonnes.
  • Power tariffs are regulated by Central and state regulatory commissions, however, coal prices are not. Every increase in coal prices leads to increased power generation costs which need to be passed on to consumers.
  • Haydn W on 17 Jan 14
     
    This article explains how production costs in India could have been cut if Coal India had kept prices lower. The article also tells us that the company has a monopoly on the industry and is state-run which has lead some people to criticise the government. The company has been accused of protecting its own interests by raising prices to cache its bank balance. 
Pietro AA

Analysis: Energy costs keep Japan's focus on nuclear, despite risks and use of renewabl... - 0 views

www.foxnews.com/...-nuclear-despite-risks-and-use

scarcity Opportunity Cost energy risks japan

shared by Pietro AA on 16 Sep 13 - No Cached
    • Pietro AA
      Pietro AA on 16 Sep 13
       
      Other scarse vaariables introduced: time and technology
    • Pietro AA
      Pietro AA on 16 Sep 13
       
      safety is a desire of most men and it is also not infitite therefore it is scarse.
  • ctions take about six months for each reactor, and obtaining con
  • ...19 more annotations...
    • Pietro AA
      Pietro AA on 16 Sep 13
       
      a conflict between the scarsity of safety and scarsity of energy
    • Pietro AA
      Pietro AA on 16 Sep 13
       
      a conflict between the scarsity of safety and scarsity of energy
  • Energy costs keep Japan's focus on nuclear, despite risks and use of renewables
  • other plants remained closed for intensified safety checks
  • The issue is cost, and to a lesser extent, concern over a resurgence in climate-changing carbon emissions due to increased use of coal and oil to generate power. Clean energy still only accounts for 10 percent of total consumption — most of it hydropower. Much of the new capacity approved has yet to come online.
  • nuclear power remains essential, even with a surge in generation capacity from solar, wind and other renewable sources, and that the world's No. 3 economy cannot afford the mounting costs from importing gas and oil.
  • Japan has managed to avoid power rationing and blackouts. Industries have moved aggressively to avoid disruptions by installing backup generators and shifting to new sources, such as solar power.
  • households no
  • paying 30 percent more for electricity than before, with more rate hikes to come.
  • prompted a rethink of plans to raise nuclear capacity from one-third to over half of total demand.
  • Reliance on imported oil and gas has surged from about 60 percent of energy consumption to about 85 percent.
  • The recent weakening of the Japanese yen has added to the burden on the economy from oil and gas imports.
  • Abe and others in favor of resuming nuclear power contend that renewable energy is too expensive and unreliable — wind doesn't always blow, the sun doesn't always shine.
  • Apart from those issues, national security requires that Japan retain some self-sufficiency
  • Local communities are divided: many have relied heavily on nuclear plants for jobs and tax revenues, but worry over potential risks.
  • hat there's a huge opportunity in power
  • We're also seeing radical efficiency gains.
  • he disposal and security of nuclear waste are issues yet to be resolved.
  • For now, however, it appears any phase-out of nuclear power will be very gradual.
  • "In the long term if we can create new resources that are more efficient than the current oil-based system, then we can rely less on nuclear power, that's quite possible," Adachi said. "But it will take quite a long time."
  • Pietro AA on 16 Sep 13
     
    This article shows how, since the meltdown of the Fukushima plant in 2011, the "want" of security (which is scarce) increased and gave energy problems to the country (energy is one of the most important scarce resources . Japan finds itself making decisions limited by the scarcity of energy, safety, time and technology. Should it take risks and stop spending money? Should it keep everybody safe and just go for the hydrocarbur plants? Should it simply invest on renewable energy plants? Should it take time and reaserch   Pietro
Amanda Anna G

Counting the Cost of Fixing the Future - NYTimes.com - 0 views

www.nytimes.com/...cost-of-fixing-the-future.html

Counting the Cost of Fixing Future

shared by Amanda Anna G on 12 Sep 13 - No Cached
  • What would you pay to protect the world in which your great-great-grandchildren will live from hurricanes, drought and the like?
  • Perhaps the most startling conclusion to be drawn from the new estimates is that the sacrifice demanded of our generation to prevent vast climate change down the road may turn out to be rather small.
  • Amanda Anna G on 12 Sep 13
     
    I think this article was appropriate for our task, since most of the article was about opportunity cost, if we should spend our money on fixing the future. This subject (the environment) can be seen as an opportunity cost since we choose to venture our money on the environment for the future, even though we might not will take part of the advantages now, for the moment.
Marenne M

Sweet and sour: Sugarcane farmers object over price set by mills - The Express Tribune - 0 views

tribune.com.pk/...object-over-price-set-by-mills

shared by Marenne M on 18 Nov 13 - No Cached
  • bumper crop this year but the government’s delay in setting a minimum selling price has soured their happiness
  • rice at which sugarcane is sold to sugar mills is usually set by the government in consultation with the Kisan Board
  • price floor is to protect the farmers’ interests as their costs are ever-increasing
  • ...4 more annotations...
  • mills have unilaterally declared the buying price to be Rs10 higher than last year’s price per 40 kilogrammes (kg)
  • ugar mills purchase and crush sugarcane without considering the rising cost of the primary sector
  • Farmers, on the other hand, dislike the idea of fixing the price on the basis of price of sugar as sugar mills have other products to earn from whereas the cost for cane growers has almost doubled
  • mill owners are trying to get the maximum benefit for the lowest price from their (the farmers’) hard work
  • Marenne M on 18 Nov 13
     
    This article describes how every year the government places a price floor to ensure the farmers interest as prices increase. This article concerns the fact that the government has not yet set a minimum price for the purchase of the sugarcane. This leads to problems for the farmers, because the mills decide the price of the sugarcane without considering the cost of the farmers.
Marenne M

Super Bowl XLVIII Pricing: A Lesson In Demand Elasticity - Forbes - 1 views

www.forbes.com/...-a-lesson-in-demand-elasticity

Price elasticity

shared by Marenne M on 27 Sep 13 - No Cached
  • club-level seats in the mezzanine of MetLife Stadium are likely to cost about $2,600, as compared to the $1,250 charged for the top tickets at last year’s Super Bowl in New Orleans.
  • next-cheapest set of tickets in the lower bowl of MetLife would cost about $1,500, up from the $950 charged for second-tier seats sold in New Orleans.
  • professional sports teams typically price their inventory in the inelastic portion of their demand functions.
  • ...6 more annotations...
  • eams charge too low a price to maximize ticket revenues
  • maximum attendance
  • omplementary purchases associated with sporting attendance…such as concessions, parking, merchandise.
  • maximizing ‘revenue per seat’ as opposed to just gate revenues
  • onsiderable mark-ups for Super Bowl tickets
  • willingness to spend thousands of dollars above face in some cases merely reflects the uniqueness of the event
  • Jakub B on 27 Sep 13
     
    The author describes inelastic demand taking the Super Bowl as an example of pricing in many other sports.
  • Marenne M on 19 Oct 13
     
    This article describes how many sports events try to keep their prices low, in order to maximize attendance and thereby complementary costs such as food and parking. However, the Superbowl tickets are very expensive, and increasing in price. This is because they want to earn more money purely on ticket sales, and they believe they can make more revenue because the high prices only show how special this event is, which means there is a high demand to meet the high prices.
  • Marenne M on 19 Oct 13
     
    This article describes how many sports events try to keep their prices low, in order to maximize attendance and thereby complementary costs such as food and parking. However, the Superbowl tickets are very expensive, and increasing in price. This is because they want to earn more money purely on ticket sales, and they believe they can make more revenue because the high prices only show how special this event is, which means there is a high demand to meet the high prices.
Pietro AA

Effects of dumping radioactive waste in ocean need more study, scientists say - 1 views

www.tampabay.com/...2157923

radioactive waste externalities negative production energy

shared by Pietro AA on 21 Dec 13 - No Cached
  • Pietro AA on 21 Dec 13
     
    I found this article very interesting because it has to do with externalities and common goods. I think this article may be associated with the article "Trajedy of the Commons" which we read because instead of talking of men's overconsumption of grass lands, it talks about the overcosumption of the ocean's self-purifying system. Generally, when talking about production of electricity through fission power plants, there will be unusable waste that is highly harmful for men and the environment because it emits highly ionizing radiation. But producers of that energy simply throw that waste in the oceans and wash their hands of the problem. The cost of society for that energy is equal to the producer's cost plus the cost for that damage the nuclear waste does. The marginal social cost is greater then the marginal private cost. But since, in a free market, it the private who determines the quantity consumed, there will be too much nuclear electricity produced with respect to society. "too much" means that resources are not optimally allocated and therefore there is a market failure.
Jakub B

Exporters shift production to countries with lower energy costs - 0 views

www.ekathimerini.com/...2014_535569

production costs

shared by Jakub B on 20 Jan 14 - No Cached
  • Jakub B on 20 Jan 14
     
    The article is about Greek firms that use offshoring to reduce the costs of production. They have been shifting production to countries like Bulgaria in a greater and greater extent. As the producers claim, they can spend only a third of their former costs in countries less developed than Greece.
John B

Technology Eases the Ride to Higher Tolls - New York Times - 0 views

www.nytimes.com/...04leonhardt.html

Price mechanism

shared by John B on 14 Oct 13 - Cached
  • I imagine that some of the children being driven to the Jersey Shore today won’t even look away from their DVD players as they glide through a toll.
  • As a result of E-ZPass and its ilk, even many adults don’t notice the cost of a toll.
  • Which raises an interesting question: If you don’t know how much you’re paying for something, will you notice when the price goes up? Or has E-ZPass, for all its benefits, also made it easier for toll collectors to take your money?
  • ...3 more annotations...
  • fter an electronic system is put in place, tolls start rising sharply. Take two tollbooths that charge the same fee and are in a similar setting — both on highways leading into a big city, for instance. A decade after one of them gets electronic tolls, it will be about 30 percent more expensive on average than a similar tollbooth without it. There are no shortage of examples: the Golden Gate Bridge, the George Washington Bridge and the Tappan Zee Bridge, among them.
  • “You may be less aware you’re paying the toll,” said Ms. Finkelstein, now an associate professor at M.I.T., “but you’re paying a higher toll than you used to.”
  • The E-ZPass economy is indisputably more convenient. It saves time and frustration. But the old frustrations that came with cash also brought a hidden benefit: they forced you to notice that you were spending money. With electronic money, it’s much easier to be carefree.
  • John B on 14 Oct 13
     
    In this article we read about how ignorant we can be for the taxes we pay when entering cities due to the electronically tolls. It is very easy for the E-ZPass company to raise the cost when going through a toll since it is payed with electronic money. Still we get something out of this. We save time and we don't get frustrated on waiting to pay the toll. That is a demand that is very high since everyone has very little time to spare and we really don't Want to become frustrated. So this company use these demands in to their benefits.
  • John B on 14 Oct 13
     
    In this article we read about how ignorant we can be for the taxes we pay when entering cities due to the electronically tolls. It is very easy for the E-ZPass company to raise the cost when going through a toll since it is payed with electronic money. Still we get something out of this. We save time and we don't get frustrated on waiting to pay the toll. That is a demand that is very high since everyone has very little time to spare and we really don't Want to become frustrated. So this company use these demands in to their benefits.
Haydn W

Taxing Carbon Is Like Taxing Diamonds | Mary Manning Cleveland - 0 views

www.huffingtonpost.com/...bon-is-like-tax_b_3965170.html

Huffington Post Price Elasticity Fossil Fuels Carbon Emissions Demand Supply

shared by Haydn W on 19 Oct 13 - No Cached
  • Taxing Carbon Is Like Taxing Diamonds
  • To reduce carbon emissions, we must tax fossil fuels -- but, say the pundits, we can't do so because the tax would be regressive, clobbering the poor.
  • Imagine that we impose a sales tax on diamonds. Would we worry about the burden on middle-class purchasers of one-fourth-caret engagement rings? What about the part of the tax "passed back" onto the DeBeers Group? Not much sympathy for global monopolists either.
  • ...8 more annotations...
  • Surprisingly, a carbon tax would operate much like a diamond tax, for reasons both of demand and supply.
  • Demand: The wealthy actually consume a disproportionate amount of carbon. Discussions of a carbon tax usually focus on the price of gasoline. One gallon of gas produces about 17 pounds of CO2. One metric ton is 2,204 pounds. So a $100 tax on a ton of CO2 comes to $0.77 per gallon -- a significant cost to low-income commuters and small truckers.
  • But the very poor don't drive or travel or occupy much space; the rich fly planes, including private jets; drive to low-density suburbs; occupy and heat multiple houses and hotels; and buy lots of stuff. Clearly the rich consume much more carbon per capita than the poor.
  • Demand elasticity for oil is low, about 0.5; so a 1 percent increase in oil price would cause a 0.5 percent decrease in consumption. That makes sense, since in the short run, it's hard for people to cut energy consumption, especially if they must drive to work. But, though numbers are hard to come by, elasticity of supply is much, much lower, for two reasons. First, oil production takes decades and billions in capital investment; producers cannot quickly increase or decrease supply. Second, oil producers form an international cartel, an organized mega-monopoly, which holds down production to drive up prices. Since they're already charging what the traffic will bear, they can't much raise prices to cover a tax.
  • As economists long ago figured out, buyers and sellers share a tax in inverse proportion to elasticity. Therefore, if supply elasticity of carbon is, say, 0.1, while demand elasticity is 0.5, the suppliers will pay five times as much of the tax as consumers. That reduces that $0.77 per gallon gas tax to only $0.13. Moreover, precisely because most of the tax falls on suppliers, it will generate plenty of revenue to help those unfortunate long-distance commuters and small truckers, to build more public transportation, to invest in renewable energy, and even to cut super-regressive taxes like the payroll tax.
  • According to Edward Wolff, in 2007, the top 1 percent in the U.S. owned 43 percent of non-home wealth, mostly securities, including of course energy company stocks and bonds. The top 10 percent of wealth holders owned 83 percent.
  • A May 2013 federal study of the Social Cost of Carbon estimated costs of additional CO2 emissions for 2010 to 2050 ranging from $27 to $221 per metric ton in 2050, depending on assumptions.
  • So we have good news and bad news. Good news: The cost of reducing carbon emissions will fall hardest on the 1 percent, who consume the most energy and own the energy companies. Bad news: Ditto. Expect a fight!
  • Haydn W on 19 Oct 13
     
    This article talks about the economic implications of imposing a tax on carbon emissions and how this would affect the different social classes of society in different ways. The article makes specific reference to economic theory and the elements on elasticity.
  • Jakub B on 20 Oct 13
     
    Taxation almost always decrease the economic surplus and therefore it makes a decline in effectiveness. In this case, the energy companies will be the most affected group.
Marenne M

Oil prices will drop if U.S. lifts crude export ban: study | Shanghai Daily - 2 views

www.shanghaidaily.com/...article_xinhua.aspx

aggregate supply

shared by Marenne M on 01 Apr 14 - No Cached
  • Gasoline costs are tied to a global market, and this study shows that additional exports could help increase supplies, put downward pressure on the prices at the pump and bring more jobs to America.
  • if export was allowed, the cost of gasoline, heating oil and diesel fuel is projected to fall
  • United States is expected to shift from a net importer to a net exporter by 2020
  • ...1 more annotation...
  • On an aggregate supply-demand basis, the country is rapidly approaching a self-sufficiency rate of 90 percent
  • Marenne M on 01 Apr 14
     
    This article describes how the U.S. is considering becoming more self-suffiecient in the fuel industry. The want to decrease their  imports and increase exports. Decreasing their imports will decrease import cost, increasing the aggregate supply. Simultaneously, increasing export will increase aggregate demand. This will shift the U.S. from a net importer to a net exporter.
Mariam P

Robusta coffee going the arabica way,prices fall below cost of production on good crop ... - 0 views

economictimes.indiatimes.com/...25286762.cms

production costs

shared by Mariam P on 18 Jan 14 - No Cached
  • Mariam P on 18 Jan 14
     
    This article is about the fall of the price of robusta coffee. The largest producer of robusta coffee, is pushing prices down in the global market.And they believe that the output will increase. As there is an oversupply, the stock is likely to be sold at a discount before the harvest for the next crop begins.
Zuzanna G

U3O8: Low Capital Costs, Short Term Uranium Production in South America - 0 views

uraniuminvestingnews.com/...oduction-in-south-america.html

production cost

shared by Zuzanna G on 21 Jan 14 - No Cached
  • Zuzanna G on 21 Jan 14
     
    This article discusses the opportunities for uranium production in South America.
Clemente F

5 Ways To Control Costs - 2 views

www.forbes.com/...5-ways-to-control-costs

economies of scale revenues

shared by Clemente F on 27 Jan 14 - No Cached
  • Clemente F on 27 Jan 14
     
    This forbes article discusses and suggests 5 ways a company may use to reduce and control costs of a company
Yassine G

BBC News - Four merged 'super colleges' launch - 1 views

www.bbc.co.uk/...uk-scotland-23524047

merger cut cost

shared by Yassine G on 11 Feb 14 - No Cached
  • the mergers could save £50m a year.
  • will provide a real stimulus for economic growth
  • In the short term, the changes will have a limited impact
  • Yassine G on 11 Feb 14
     
    This article is about colleges merge ring. you can see that it is very similar to businesses merge ring. The cost will be cut and performance will be better. The article also shows that the impact i the short run will not be big, however, it i will start to show in the long run. this is exactly the case with any other merger of any type of business. 
Haydn W

Rightmove triples its estimate for housing price rises | Money | The Guardian - 0 views

www.theguardian.com/...-estimate-house-price-increase

The Guardian Money House Prices Scarcity Opportunity Cost UK Help to Buy

shared by Haydn W on 16 Sep 13 - No Cached
  • A leading estate agent has tripled its forecast for house price rises in 2013
  • Online estate agent Rightmove has raised its 2013 house price forecast for the third time this year to more than double the rate of inflation
  • The chain expects the average property price to increase by 6% this year
  • ...14 more annotations...
  • On Wednesday the Bank of England's financial policy committee
  • and what remedial measures
  • discuss the possibility of a property bubble
  • can be taken
  • The Royal Institution of Chartered Surveyors (Rics)
  • has called on the committee to cap annual house price growth at 5% a year.
  • Vince Cable, the business secretary, has warned of the risks of "returning to the problems of the last decade when housing got out of control,"
  • and said the chancellor should consider halting the second phase of his Help to Buy scheme.
  • The controversial mechanism, which
  • will allow people to buy homes worth up to £600,000 with a 5% deposit.
  • The Liberal Democrat president, Tim Farron, also attacked George Osborne's flagship scheme
  • The Rightmove report said the average asking price reached £245,495 in September, a 4.5% increase on the same month a year earlier.
  • Prices are rising fastest in greater London, up 8.2% over the past year to £493,748, and the West Midlands, up 6.8% to £195,429.
  • In London, prices are up in all boroughs except Barking & Dagenham (down 0.8% to £218,242). Prices in Croydon and Tower Hamlets rose by more than 2% in September alone.The most expensive homes are in Kensington and Chelsea, where the average home is priced at £2.16m – a 6.5% increase on last year.
  • Haydn W on 16 Sep 13
     
    This article explains how many organisations are forecasting a rise in house prices in my home country, the UK. It also details opposition by UK politicians to the Chancellor's 'Help to Buy' scheme which is supposed to help more people get on the property ladder. I believe this is related to what we are studying in Economics as it relates to houses being a scarce resource and how people have to choose between the increasing difficulties of getting on the property ladder and other living essentials in todays economy. (Opportunity Cost)
Aleksi B

BBC Sport - Cristiano Ronaldo: Real Madrid forward agrees new contract - 0 views

www.bbc.co.uk/...24099077

Opportunity Cost contract sport

shared by Aleksi B on 15 Sep 13 - No Cached
  • Aleksi B on 15 Sep 13
     
    Real Madrid CF have reported to give Cristiano Ronaldo a new contract making him the most expensive player in football. Now the question is will the club benefit from all this money being spent on this one player? This this the opportunity cost Real Madrid are taking hoping this will lead them to some football glory 
  • Clemente F on 16 Sep 13
     
    I believe you are right. I never though of applying economic concepts to sports and especial soccer. But you are right, soccer teams are similar to companies now days and some are even in the stock market. They are investing money on Cristiano Ronaldo hoping to get back some glory and therefore money. I find that is horrible to classify a soccer player and therefore a human being as an economic good.
Amanda Anna G

Air pollution a leading cause of cancer - U.N. agency | Reuters - 0 views

www.reuters.com/...ollution-idUSBRE99G0BB20131017

externalities-of-production

shared by Amanda Anna G on 19 Nov 13 - No Cached
  • The air we breathe is laced with cancer-causing substances and is being officially classified as carcinogenic to humans, the World Health Organization's cancer agency said on Thursday.
  • Air pollution, mostly caused by transport, power generation, industrial or agricultural emissions and residential heating and cooking, is already known to raise risks for a wide range of illnesses including respiratory and heart diseases.
  • Research suggests that exposure levels have risen significantly in some parts of the world, particularly countries with large populations going through rapid industrialization, such as China.
  • Amanda Anna G on 19 Nov 13
     
    This article relates to externalities of production, since air pollution caused by industries and transport emissions is classified to be carcinogenic to humans and raises the risk for illness. The harmful effect the industries make, causes a negative externality upon the third party- the society breathing in polluted air, who indirectly receives an extra cost by the pollution.
  • Zuzanna G on 23 Nov 13
     
    This article states that air pollution is the main cause of cancer. In terms of economics, this means that it is an external cost of production received in consumption - as the process of recovering from cancer is very costly.
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