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Home/ Economics HL - Jacob Solomon's group - Year 1/ Contents contributed and discussions participated by Olachi Nwabuikwu

Contents contributed and discussions participated by Olachi Nwabuikwu

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or is it Direct debit controlling each individuals payment schedule (watch only 1st part of the video) Money is still withdrawn from an individuals account even if there is nothing there.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.
Olachi Nwabuikwu

BBC News - Taxman to make money from Payment Protection Insurance - 0 views

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    http://www.bbc.co.uk/news/business-15701101 I think a better way would be to implement a rationing system. However, this would cost far too much money and will never happen. The end result being that those laying claims on being missold PPI- "No tax is generally due on the repayment element of compensation paid to those missold PPI. However, the additional interest is taxable - in line with other compensation claims." but the "taxman" (the government) gets to pocket lots of tax revenue.
Olachi Nwabuikwu

BBC News - Rapidly rising inflation hits Ugandans hard - 0 views

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    The quantity demanded of this products changing with the change in price of the products.
Olachi Nwabuikwu

Ukraine: Gas deal means Europe security - UPI.com - 0 views

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    The rationing function ( a specific aspect in price mechanism) Prices serve to ration scarce resources when demand in a market outstrips supply. When there is a shortage of a product, the price is bid up - leaving only those with sufficient willingness and ability to pay with the effective demand necessary to purchase the product. In this case this countries are finidng a suitable way to solve the issues regarding issues concerning gas...
Olachi Nwabuikwu

BBC News - House prices lacking direction, says the Halifax - 0 views

  • House prices are "lacking genuine direction
  • It said there had been a mixed pattern of monthly changes in prices, but broad stability overall.
  • Greater uncertainty about economic and personal financial circumstances, together with pressure on householders' finances from weak earnings growth, higher inflation and increases in taxes, are likely to be constraining housing demand,"
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  • Despite these pressures, low interest rates and a rise in employment over the past year, have been supporting the market."
  • Prices in the three months to September were 0.1% higher than the previous three months. The report of static house prices from the Halifax's lending data chimes with the latest figures from the Nationwide. The building society said last week that prices were "treading water". The change in house prices have varied across the country However, the latest statistics on mortgage approvals from the Bank of England may suggest that sales funded by mortgage borrowing could pick up this autumn. It said the number of new mortgages approved, but not yet lent, for home buyers rose to 52,410 in August - its highest monthly level since December 2009.
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    What really could be constraining the housing demand? is it really the different circumstances covering a householders finances due to weak earnings or higher inflation as suggested or the PRICE?!
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.
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