Group items tagged

BBC News - Greece jobless rate hits new record of 28%

The demand for gadgets among the young people from 12 to 17 years old reflected the inelastic demand for iPhone. The most desire Christmas present is the Samsung Galaxy phone follows by the Apple. This shows that young people, most of them, who do not have their own income, are very interested in the technology in order to keep up the latest news updates and gossips with their peers or their families and friends. The advertising od these oligopolies are very successful by promoting the products as an essential tool for daily living. The incomes of the families that are able to afford these gadgets reflect that they are from middle income or the rich. The pricing of these products are reasonable affordable as the US dollars is stronger than the Korean Won. The close substitute, cross elasticity is the Apple, which is an American product, which may be compatible in price and functions, but Samsung seems to have greater inelasticity. Christmas is a period of seasonal demand where the inelasticity of new gadgets increases because adults want to please the teenagers with new technology. The businessmen are able to intelligently respond by increasing the supply because they are inelastic in their supply to increase their marginal revenue and to enjoy of scale.

Consumer confidence on rise

Car prices in Venezuela are expensive so the government put a price ceiling it.

Smoking is a negative externality. Children who have exposure especially to relatives who smoke will have a greater chance of childhood asthma. The smoking ban is very healthful, as it has caused a decrease in the rate of children emitted to the hospital with severe asthma. The ban on smoking in the enclosed public places has helped the children to have less health problems. The government benefits because it reduces government expenditure in the NHS, which is a public good. The statistics reflect the decrease in admission of about 6800 is a positive benefit to the public especially the young children.

A negative externality hits the society as smokers affect children giving them asthma, according to this article. This effect does not affect the cigarette companies, however, but smoking restrictions came into force in attempts of decreasing the damage it does to society.

Week 7 News - Starbucks Is Criticized by Chinese State Media for Higher Prices

Week 9 - News Artcicle

Official figures about to be released are expected to show the UK economy grew at its fastest rate since before the financial crisis.

This article shows the impact of unemployment data on the currency and mentions how monetary policy should be used to control aggregate demand.

this article is about energy companies saving millions by avoiding tax bill by using legal loopholes. this article explains the impact on the economy of countries when this kind of unethical methods are used to avoid tax.

Colorado voters approve 25 percent taxes on recreational marijuana

This is my article for this week's topic - demand.  The article above relates to the demand of the iPhone5S and the public. The demand here connects with the sales of Apple products. My write-up can be viewed here: https://pamojaeducation-com.campuspack.eu/Groups/13.Y2.ST.ODP.MAY.ECON.SL.A/Nattanopthorns_Economics_Blog/2013/09/4-2_-_Demand_Newsstand_Article - Bee

your analysis of the article is interesting.

This is my week's article regarding the domestic Ukrainian steel scarcity. 

This article is about diary giant Arla opening a new £150 million factory in Aylesbury. This would create a total of 1,700 jobs from both construction and working in the factory itself.

This article highlights the fact that in response to increasing demand, intel is investing $5bn in a new factory in Arizona which is considered to be "the most advanced high-volume semiconductor-manufacturing facility in the world." The factory will create about 1000 jobs, primarily in the higher-wage, higher-skill positions.

Atalia supplier warns over fuel supply

This is my article for this week's topic - supply/equilibrium/price mechanism. The article above relates to the supply of a renewable energy: the solar energy farm. My write-up can be viewed here: https://pamojaeducation-com.campuspack.eu/Groups/13.Y2.ST.ODP.MAY.ECON.SL.A/Nattanopthorns_Economics_Blog - Bee

This article is about the launching of iPhone 5C was highly anticipated to be very popular in China. The truth was that apple has decided to trimmed the iPhone production by significant 35 percent while increasing production of the more expensive iPhone 5S by 75 percent to meet the increase in demand. This implies that Apple is very responsive to the change in the demand curve by increasing the supply curve quickly. Apple is an oligopoly, which is highly responsive to the elasticity to the demand by shifting the elasticity of supply in China.

This is my article for this week's topic - elasticity/PED The article above talks about increase in energy prices in the UK. My write-up can be viewed here: https://pamojaeducation-com.campuspack.eu/Groups/13.Y2.ST.ODP.MAY.ECON.SL.A/Nattanopthorns_Economics_Blog/2013/10/7-2_-_ElasticityPED_Newsstand - Bee

The following article talks about how China has loosened its one baby policy, in order to face the growing problem of a rapidly aging population and slowing economic growth. However many young couples are not taking advantage of this new policy due to the rapidly rising costs of living in China.