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Sinopec profit raises directly link to the relaxation of fuel price controls. Sinopec is a government control company, which controls a great deal of the lucrative oil market. When the government eased the fuel price control, it meant that the price could be increased by the oligopoly. This allowed greater margin of profits, which will benefit Sinopec and the government in terms of taxes. The problem is that when price of fuel which is an essential inelastic commodity increases, the inflation will increase for the average consumer. The consumer will have to pay more his daily consumption, which will affect the prices of the goods and services that he is selling.

this article is about price control mechanism , price ceiling used on high price of plane tickets "creating competition is more effective at protecting customers from high prices than imposing ceiling prices for flight tickets on domestic lines."

This is my article for this week's topic - price controls. The article above relates to Thailand's government's attempt to control prices of goods. My write-up can be viewed here: https://pamojaeducation-com.campuspack.eu/Groups/13.Y2.ST.ODP.MAY.ECON.SL.A/Nattanopthorns_Economics_Blog/2013/11/11-2_-_Price_Control_Newsstand - Bee

The UK price floor for tobacco.

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

New Zealand is "vulnerable" to a fall in house prices, which could be triggered by an overseas financial shock, Reserve Bank deputy governor Grant Spencer says. "If the growth in demand continues to exceed the growth in housing supply, house prices will become increasingly vulnerable to a sharp correction, which could be prompted by, say, a global financial shock," Spencer said.

The following article is about how the increase in gas prices has spurred violent protests around Sudan. The activists are mainly high school and college students, with one activist been killed by police. The increase in price has made gasoline not affordable for most, as prices doubled,because the government cut its subsidies for gas companies. Therefore gas in Sudan has an elastic demand, causing the increase in price to make gasoline not only not affordable, but also increasing the price of other goods,which are dependent on gasoline driven vehicles.

Is the UPA government contemplating a return to price controls?

The following article discusses how the strict price controls set in the Venezuela are causing more harm then benefit. The ceiling prices are set so low that producers cannot make a profit anymore, causing a reduction of production but an increase in demand. This is causing a crisis in Venezuela where people struggle to purchase the goods which are being produced less and less due to the price controls.

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

This is my article for this week's topic - excise tax The article above relates to the raise in commodity prices in Egypt. My write-up can be viewed here: http://bit.ly/17HFScQ - Bee

For years, Americans have heard warnings about high health spending: The U.S. spends a greater percentage of its economy on health care than any other nation, and the trend lines make clear that in future years we'll be spending more still. More recently, we've seen media attention focus on the prices that Americans pay for medical services.

this article is about how the price in brazil is increasing, and as the price increses the less ability for consumers to buy.

enjoy

This article discusses the global crude oil supply prices which have been increasing because of the various countries having political unrest causing disruptions. The strong demand for the oil has increases the prices as the supply decreases. The various countries that have a significant decease in supply include Libya, Nigeria, and Iraq. The estimated barrels daily of crude oil disruptions reflect that Syria has been having a decrease in supply since 2011. The other factors that affect the prices include the seasonal demand pattern, which shows a decrease in demand in September and decrease further in October. The increases by non-OPEC countries mean that there is an increase of production such as in the US, which will offset the decrease in supply in Syria. Saudi Arabia always has a sustained output because it will provide higher income.

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

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