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Sebastian van Winkel

xbox live price hike a higher cost for microsoft - 3 views

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    This article is about the fact that microsoft increased the price of their xbox live. This is a "subscription" so that you can play online, with friends and people all around the world, and the price has increased. I don't think that less people will buy it though. It was $50, now it's $60. People who really want to play online were willing to pay $50 so i don't think these $10 will make a change.
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    In a way this makes microsoft out to be a bad comapny. It talks about how they have almost conned people into the purchase of the console, and how they can then determine the price of the xbox live. But, the customers are buying the console, in the knowledge that the price of the live play is not constant and can rise dependent on what microsoft feel is correct. Microsoft have tried to counter the price rise, with a reduced price in the common, years to try and deflect from the annual incraese in price that they are putting in place.
Desmond M

AP IMPACT: Hospital drug shortages deadly, costly - 2 views

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    This demonstrates scarcity by showing that a shortage of drugs, caused by manufacturing problems, is causing high markups from secondary suppliers. 
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    I never thought how the shortage of drugs could be so impacting because companies are always producing drugs and we never think how it could affect our lives without them. I has to make you think how different our lives would be without modern medicine.
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    I recently heard about a similar issue in Canada and I assume the same problem is occurring elsewhere... Drug companies have decided to switch their focus to more expensive drugs, such as cancer treatment drugs, because they can make so much more money on them. At the same time, they are reducing production of the cheaper drugs because of the low profit margin, even though these drugs may be essential in saving people's lives. The scarcity of the drugs for the people who need them could be easily fixed, but is being prevented due to the greed of large corporations.
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    It's really unfortunate how so many individual events, such as stolen goods or contaminated drugs, have lead to so much suffering. The market is the big, but (as the article says) there are only about a half-dozen companies that produce these drugs, and so when there is one little problem, it quickly becomes something much bigger. It isn't just one reason, this article otulines several, all of which are wreaking havoc on patients and the healthcare system as a whole. Clearly, pharmacists are scrambling to provide for their patients. Hopefully, this shortage doesn't lead to illegal imports or other bad things that can occur when people are desperate.
Lola Z

Diesel and heating oil prices hit 3-year high - New Brunswick - CBC News - 0 views

  • The Energy and Utilities Board set the maximum price for diesel at $1.44 cents per litre on Thursday morning.
  • Mike Beaudet, who operates Y Mow Lawn Care and Landscaping, said his Saint John-based company is being hurt by the rising cost of diesel fuel.
  • The Energy and Utilities Board set the maximum price for diesel at 143.5 cents per litre on Thursday, which includes HST and a transportation fee. By comparison, the energy regulator set the maximum gasoline price at 124.5 cents per litre.
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    This article shows an importance of price control on goods. Because of the high diesel and gas prices, people's life are being affected, in a negative way. First of all, people who own cars will fell the financial pinch, because now they spend a lot more on diesel. And lives will not keep running, in some contexts, without cars. And diesel is a fuel for heating too. Canada's winter is freezing cold, without heating, life will be miserable. To ensure people's welfare is protected, a price ceiling for diesel, in this case $1.44 cents per litre.
Olachi Nwabuikwu

BBC News - Somalia famine: UN warns of 750,000 deaths - 2 views

  • "In total, 4 million people are in crisis in Somalia, with 750,000 people at risk of death in the coming four months in the absence of adequate response,"
  • 'Not short-term'
  • "Even if we are able to get food and supplies to the main ports of Somalia, I think there is a real challenge in being able to deliver that assistance - what I call the 'last-mile' problem.
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    Now for Somalian citizens who are faced with a compulsory pattern of living with famine, scarcity can be thought as not invited but already a citizen, despite the environmental constraints of hydro climatically-induced water scarcity and the considerable fluctuations which characterize the natural freshwater supply supposed to exist; a water-stress routine is now an impact on the responsibility of improved water supply for self-sufficient crop production (resulting in lack of food and crop production) as well as the number of these Somalian individuals desperately depending on any flow unit of water available to them from the water cycle. Sadly as stated it is not of a short term crisis but if seen in a medium-term-perspective, water may not be readily available to support improved life quality for this growing African population, so the economy therefore is faced with a great deal of scarcity without knowing what to do about it.
Adam C

Inflation expected to rise - Telegraph - 0 views

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    Victoria Cadman, economist at Investec, said no change in the rate of inflation would be an "uncomfortable reality" for the Bank of England, which confidently forecast inflation to fall rapidly throughout 2012 and into 2013. The Bank's policy-makers will be less inclined to pump more money into the economy through its quantitative easing programme if inflation continues to remain above target. This article discusses the expected increase in inflation figures which are coming out tomorrow because of high oil and food prices. These increases in inflation will lead to a higher cost of living, which is undesirable for pretty much everyone.
Lucas G

Factory casts toxic cloud over posh locality - 0 views

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    This article concerns the problems that are being caused by a wagon-assembly factory in India. Not only does the factory cause air-pollution through fumes, but it also causes noise-pollution and vibrations that make living in the area very uncomfortable. This clearly illustrates how the MSC is much greater than the MPC of production, and is therefore is therefore a "Negative Externality of Production".
Lola Z

Cover story 1 - Agriculture-Go big ... and small - 0 views

shared by Lola Z on 22 Jan 12 - No Cached
    • Lola Z
       
      Sometimes economies of scale creates monopoly when a company grows too big. And this forces small operations out because economies of scale helps the price to remain competitive.
  • It is natural, simply capitalism
  • you must get bigger, get better, or get out.
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  • greater economies of scale become more pressing and more smaller farmers are unable to make a reasonable living off the land.
Katie Edwards

Income Disparity, Poverty in Nigeria Depict Defective Macroeconomic Structure, Articles... - 0 views

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    This article depicts the failure of the macroeconmic system in Nigeria, and how the country's poverty is exemplified through GDP. The low development of the country is due to a cumulation of low income rates, and a non-industrialized economy. Macroeconomic tactics are failing, and this results in high poverty of the country.
Katrina D

Student jobs program gets $10M boost: CBC News - 0 views

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    This is pretty neat considering it relates to people our age living in Canada (aka me!). The Canadian government, who have set a minimum wage of $9.60/h for youths and $10.50/h for those older than 18, have decided to subsidize part or all of the payroll given out by small business to their student employees. The purpose is to try and invest in student employees so that they get the work experience they need. Although not mentioned much in the article, minimum wage plays a big roll, as now it is the government paying for the wage they set themselves... perhaps there is a chance it will be changed in the future for this reason.
Sebastian van Winkel

Water scarcity 'now bigger threat than financial crisis' - 0 views

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    By 2030, more than half the world's population will live in high-risk areas By Geoffrey Lean, Environment Editor Humanity is facing "water bankruptcy" as a result of a crisis even greater than the financial meltdown now destabilising the global economy, two authoritative new reports show.
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    This seems like a big issue that will unfold during our generation. In Canada, we have one of the world's largest fresh water supplies, and that will be an important resource for our country moving into the future. But even with such a large supply, it is still a very scarce resource. Last year I visited a museum exhibit on the world's water supply, and it demonstrated the amount of water usage per capita in places around the world... In North America, we were using around ten times more water per day than people in Africa. This demonstrated the availability around the world affecting people's usage, but even in places where water is abundant, if we use too much it can still run out, so we need to be careful in everything we do.
Nadiya Safonova

Demand for Water Rises - 3 views

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    This article adresses the issue of the increasing demand for water. In the readinig in Lesson 1 this week, we learnt about factors that affect demand, one of them was population. The world's population is increasing, therefore the demand for all resources is going up. This takes into account another factor that affects demand...the demand for other goods which are compliments, this article discusses agriculture. So with the growing population, not only will the demand for drinkng water increase, but also its demand will increase for agricultural purposes and many more.
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    The demand for water is very unique because it isn't just in demand for one purpose, as you alluded to. We use it for drinking, but also washing, agriculture, industrial uses, etc. On top of all that, the market consists of all living things... making it very in demand at all times. Good choice of article!
Katrina D

Will Indigo's Kobo exit the U.S market? - 0 views

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    This article is about the Canadian e-book company, Kobo, and their fight for sales against Amazon's product, Kindle. Kobo and Kindle are both very similar and have been competing against one another as 'substitutes' (as we've read about) for a long time. However, a new Kindle was just released that is priced even lower than the Kobo just in time for Christmas. Kobo's problem is that since Kindle has lowered their prices, they are sliding along their demand curve and thus increasing their demand. Kobo might not be able to afford lowering their prices much further, and so this might mean their whole demand curve will shift to the left because Kindle has better prices.
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    I've never even heard of the Kobo and I live in Canada. I guess it doesn't have very much of a chance, especially with the new price competition.
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