EconM2015 September 2013

This article is about scarcity and it compares generally america with india. It is really useful to understand better how scarcity works.

Article for discussion board 5

Review this article on the decline of chocolate

Review this article on the effects of bees on almond supply

The expected decrease in supply of oil is to be at 120,000 barrels a day falling to 90,000. The result of this is higher prices on oil will affect many markets and maybe even have a small impact on the global market for exports. Syria is reported to have the highest decrease in supply this year.

Demand for gold is rising in China because more middle class families are trying to invest their money, and gold is practical for conserving wealth.

The Article i found is about the demand and supply on rubber gloves for doctors.

The demand for e-cigarettes is rising. Smokers want to change their lifestyle and become more healthy. The tobacco industry has to change its supply of products fast, because smokers are looking for helathier alternatives. Their tastes have changed.

This article outlines how the demand for a certain book has increased the quantity of books produced. This is due to the particular taste of humour of the consumers, and shows how a non-price determinant has an effect on demand.

This article talks about how the Commonwealth ticket sales increased in quantity. The popular sports caused people to buy more tickets to watch that sport. This shows how certain preferred things of people can increase sales. It can also affect the number of tickets bought the next commonwealth games. The number will probably increase in demand, thus the ticket will sellers make more money.

This is an article about 2013 Bangladeshi building collapsing and the incidents happened after it. It also analyse the reason behind the building collapsing. We have learned about scarcity. Because the scarcity of money, people tend to buy cheap fashion clothes. So companies are moving into poor developing countries, and using cheap labor to decrease the cost of labor. Also, this article made me think how we can do to protect those people who died in the collapsing by stopping buying cheap clothing.

This article talks about the scarcity of fuel in Abuja. Although the elite people in the area are able to acquire fuel, most public transports could not. Without gasoline, the owners of the transportation vehicle could not go to work. This shows how the lack of a certain product can badly hurt a country and resulting in the government having to spend money to appease the people. Fuel is a limited resource of the earth and is considered scarce.

This is an article describing how there is a decrease in demand for Indian coffee. The factor that caused this drop in demand was that large nations were looking for cheaper coffees. If the price of coffee is decreased, it is likely that the quantity sold would increase (demand curve)

This article discusses the scarcity of land supply in Chicago and the resulting shift towards home reselling. It explains that, since the scarcity of land has greatly upped the price of constructing new homes, home reselling has consistently and overwhelmingly exceeded new house construction. It also discusses that it was more cost efficient to buy the house, completely demolish it, and rebuild the it on the property than build a new one somewhere else, which provides an example of the sheer effect scarcity has on price.

In this video, one can see how Apple created a false sense of scarcity of their products. This makes the demand for the product increase since potential consumers believe that there is a high demand for the product.

This article discusses the impact of low economic development in an exemplary LEDC, Kenya. It explains how freshwater is very scarce and how it has hurt the growth of agriculture in the country's poorest county, Turkana County, but also outlines how the discovery of new water reserves could possibly combat this. Unfortunately, though due to the underdeveloped infrastructure of the region, and the inefficient enterprise (in this case, the government), it could be difficult to realise a steady supply of water. Thus, a vicious cycle is formed, in which development increases at a snail's pace.