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Home/ Economics HL - Jacob Solomon's group - Year 1/ Group items tagged Consumption

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Monique T

Outlook for U.S. Consumer Spending Brightens on Employment Gains | Bloomberg Businessweek - 1 views

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    The aggregate demand in an economy is made up of the total spending on goods and services in a country, and one of the components of aggregate demand is consumption (consumer spending). This article outlines some reasons as to why consumer spending - consumption - is expected to increase in the US in the coming months.
Mirren M

Higher Prices = Less Soda Drinking - 4 views

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    This particular article relates soda to alcohol and cigarettes whereby consumption of these goods are bad for health but even after numerous ways to decrease consumption, the determinant having the biggest impact on consumption was proven to be the price of sodas.
Lucas G

Paris to Launch Electric Car Share Program - 6 views

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    The use of normal cars creates a negative externality of consumption; through the air pollution and noise pollution that is created. The intention to launch an electric car share program in Paris reduces this negative externality; as electric cars do not make any noise and do not (directly) cause air pollution.
Desmond M

Retail sales climb a robust 4.7% in February from a year earlier - latimes.com - 0 views

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    This demonstrates economic activity because it focuses on the performance of an industry in the economy and is therefore a component of GDP. The article also evaluates what is likely to happen in the future of the industry, and the expected consumption patterns of certain individuals.
Olachi Nwabuikwu

BBC News - Your Money: The price of paying cash - 0 views

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    Are individuals having the chance to control their payment by using direct debit or is it Direct debit controlling each individuals payment schedule (watch only 1st part of the video) Money is still withdrawn from an individuals account even if there is nothing there. They could face fees from their bank (and sometimes their supplier) if they don't have sufficient funds to cover the payments. Because fixed direct debit payments are calculated using previous consumption figures, some payment amounts will not be exactly equal to the individuals actual usage. This means they may end up paying too much or too little to their supplier. The individual would also lose some flexibility in the way they manage their finances.
subhashini

The staggering cost of rising world meat production - The New York Times - 1 views

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    A sea change in the consumption of a resource that people take for granted may be in store: something cheap, plentiful, widely enjoyed and a part of daily life. And it isn't oil. The two commodities have a great deal in common: Like oil, meat receives government subsidies in the U.S.
Adam C

Market failures: We are not paying the full cost of our purchases | savannahnow.com - 0 views

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    A market failure occurs when the transaction between a buyer and seller imposes costs on a third party and these costs are not included in the price paid. The third party impact is called an externality. When the externality is negative, like in this scenario, then we should try to limit the consumption, thus raise the price, however this has evidently not happened.
Robert A

Crowded out - 0 views

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    This article talks about the rising prices of commodities due to the aggressive and proactive economic policy of China. With the surge in Chinese purchases of commodities such as iron ore and oil, a huge demand has been created in the commodity markets, which were previously unprecedented. The sluggish reactions to the commodity demand,due to archaic infrastructure and depleted resources, have lead to a substantial spike in the prices of commodities. I personally believe that the massive purchases of resources by China is leading to a bubble in the commodity markets. As said in the article Iron ore was once 13$ a tonne in 2001, and now is 178$ a tonne. Although some might say that the rise in prices are a corollary to the rise of China as a economic power, I do not believe the mass consumption of commodities can be sustained over time.
Hannah S

Scarcity for thee but not for me - 1 views

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    This article talks about how putting taxes for fossil fuels may help to reduce the the consumption of fossil fuels. This is necessary because fossil fuels are become very scarce and we are running out of them as they are a non-renewable energy source. However, not everyone wants the tax to go up as this would mean increased spending when they cannot afford to do this. Many energy companies will be able to push this increase of tax onto the consumer as it is an inelastic product and the demand will not decrease much if the price is increased.
Ya Hsuan

World population hits 7 billion - 0 views

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    Today, we are one of 7 billion people on Earth. This historic milestone is rekindling age-old debates over birth control, protecting natural resources and reducing consumption. It also has many wondering whether the Earth can support so many people. About half were added just in the past 40 years, and 3 billion more are expected by 2100.
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    According to Carl Haub, "Currently, world population is growing at the most rapid pace in history." And today, growth is highest in poorest countries where health care advances are keeping people alive longer while birth rates are still relatively high. Therefore in the future, there will be more shortages in food and the price of everything will be going up. There will not be a equilibrium of the economy after all.
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