Hello, In this article it talks about how South Sudan has suspended its oil production due to a disagreement with the Republic of the Sudan. South Sudan says it will stop its oil production because it does not want to share its revenue with Sudan. Sudan has accused the south for not paying transport fees, because the south has all the oil fields however, it relays on the north because south Sudan does not have a port and uses Sudan's port to export their oil. South Sudan claims that Sudan has stolen $350,000,000 worth of crude oil as an exchange of their transport fees. The two countries are know in Ethiopia trying to settle an agreement in which the south can use the north in order to export their oil.

Hello, In this article it talks about how the shares for GE fell in response to a lower revenue than expected. The fall in revenue of General Electric was caused by a slower than expected growth in the European credit crisis. It says even though GE was making a profit, the slower European market causes them to have a decrease in revenue. They say that because if the credit crisis sales in Europe are not as high and even though people are still purchasing products, the growth at which sales in Europe should have increased are increasing less than what GE wants them to. GE claimed that they are going to change their market footprint through new products and technology in order to increase their revenue and thus increase their shares. From Tim

Hello, sorry for the delay. In this article it talks about public goods. The public good at question is the British military, and it talks about a regiment who's job it is to guard a checkpoint to make sure that the civilians are safe and to protect the local community. Also, as a secondary job they are training the local Afghan police and military to help them with the patrol of the checkpoints. It then goes on to talk about how the soldiers are staying there for Christmas and how the Taliban will think that they are celebrating Christmas however, the British military will be on guard. lastly, the video says the all the British and American forces will have left the region and Afghanistan by 2014. From Tim

Hello, This article talks about problem and the negative externality an 5,000 gallon oil spill has caused in a local river, which covered over two miles. The article talks about the clean up act and how some fish are dying. The article does not talk about how the dying fish will affect local trade, however, I think it should not affect it that greatly due to the fact there are other rivers and seas from which to fish in and the river was quiet small. However, the oil could get into people's drinking supply and it could make people ill. From, Tim

Hello, In this article it talks about how the Venezuelan government are trying to control inflation by setting fixed prices. The government's policy of price control demonstrate faith that one day they might succeed and lower their inflation rate which is at 27 per cent, the same as last year. The government are imposing a new law which the price controls will affect five general areas; personal and domestic hygiene products, car parts, medicines and health services and food. The government tries to prevent companies from "hoarding and speculation" and "exploiting the people". Also, the prices for 18 products are being frozen, and companies like Heinz, Pepsi, Coca Cola, and Nestle need 'special' attention. People say that the fear the private companies how will lead to more shortages and more inflation. From Tim

Hello, In this video it talks about how the fuel prices have tripled over the last 20 years. It says that most of it has come from taxation and how in January the tax will increase by 3p a liter. This will translate that the average price will in by $1.50, however, if the government decided not in impose the tax then they would lose out of $1.5 billion of much needed revenue. Today, people spend a lot of their income on fuel and for people who own their own businesses they need have as much burden as possible because they will lose their demand. All in all, the government can keep the drivers and motorists happy by not increasing the tax or increase there revenue to help themselves out of the European economic crisis. From Tim

This articles talks about the retailers are managing to increase their prices and pass on higher costs onto their customers. Its talks about how people think that increasing the price will not change the demand or quantity because consumers would accept the price increase because all retailers have the same cost structure and would start to pass the higher prices through. It also talks about that they can increase their prices because their is no substitute for their product. In general there is a economic growth within the world. Average prices in the apparel market rose more than 5 percent from January to May.

This articles talks about how the export growth of 2.4 percent in September has created growth in overseas shipments because as the yen is getting stronger Japanese products are getting more expensive in overseas markets compared to Asian rivals such as China and South Korea. Due to the fact that the products has increased in price the demand for them has risen because people think that they are worth more, however the supply has decreased due to the increase in demand.

In this video, it talks about how the younger generation and the increase in population has caused for house prices to rise, resulting in the lack of cheap homes for young people to buy. It talks about how the government are buying brown field sites, fields and other places in order to build cheap, small homes for people to buy. It talks about how the demand for houses increased while the supply has stayed the same, resulting in the rise of its prices. Thus, young people who do not earn that much money can not afford to buy a house for themselves.

This video talks about how after the economic crisis a company located in England called BAE, the world's second largest military defense company who employs more than 40,000 people, talks about opportunity cost because of the resent cut backs in their contract. It talks about how England is trying to become more reliant on industry instead of finance. Lastly, it talks about the companies cuts from the government and job security because local governments have cut their spending with BAE, they are spending their money to invest into their own economy. Finally, I think it relates to scarcity because money itself is scare and government have to decide how to spend it efficiently.