Andy's PJE 2013-15 SL Economics class

this article relates to our week 9, study because it tells us the the consumers demand for energy is inelastic and how the government decisions affects the price of company products.

This article talks about how oil has changed significantly the last 10 years, and what factors affected this.

Week 9 - News Artcicle

This is my article for this week's topic - income elasticity/cross elasticity/elasticity of supply. The article above relates to the raise in minimum wages of the people in Washington D.C. My write-up can be viewed here: https://pamojaeducation-com.campuspack.eu/Groups/13.Y2.ST.ODP.MAY.ECON.SL.A/Nattanopthorns_Economics_Blog/2013/11/9-2_-_Income_ElasticityCross - Bee

The following article states how Tesla, which is an electric car company, worries about the supply for their lithium ion batteries. Their supplier Samsung is not able to keep up the supply of batteries so they are looking for methods of increasing battery production together. Therefore although demand for batteries increased, the supplier Samsung was not able to keep up with the rising demand for batteries.

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.

this article shows how the challenges in the market decrease revenues in some companies.

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

enjoy

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

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 article shows how a carbon tax would operate much like a diamond tax, for reasons both of demand and supply.

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.

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 talks about how Indian Oil Corp used to be a monopoly of fuel in India. So going from in-elastic to elastic due to launching of new companies that produce fuel.

hort supply of the latest Apple iPhone has left mobile networks "frustrated" and "concerned", the BBC has learned.

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.

This talks about how the supply of avocados is very short while the demand is big. This of course leads to a price increase since supply is short while demand being big.

The following article discusses how the local waters near Hong Kong have been depleted of fish since the 1980s. Therefore the suppliers are shifting their method of production to having fish farms located in industrial buildings to meet Hong Kong's demand for live fish.

Atalia supplier warns over fuel supply