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This article talks about new Delhi, and how the Prime minister believes that they can no longer go on subsidising the oil companies for lower prices to customers as it has become unsustainable. It also talks about the potential consequences of the actions in New Delhi should such acts continue and how New Delhi is now in a potentially worrying economic position

This article discusses how the government is trying to deal with the greenhouse gasses that are having a negative impact on our environment. The governent is taking steps to promote the use of biofuel over ethonol by using tax subsidies....

This article concerns the oligopoly of Coca-Cola and Pepsi in the soft-drinks industry. It is a non-collusive oligopoly; and the two firms compete in order to gain consumers and maximize profits. Although this is usually apparent through non-price competition (as price competition can result in heavy losses for both firms), in this situation in India, Coca-Cola is reducing its prices in order to gain consumers. Pepsi will then follow suit, also reducing its prices, as if it doesn't it may lose many consumers to Coca-Cola.

This artcile concerns the big American beer companies, and states that how in a time of economic recession and with beer sales slumping, how the big companie re maintaining high prices, and that quite simply the smaller companies cannot compete with these powerhouses in alcoholic drinks industries anymore.

This article discusses China's economic growth over the past few years, and that although the GDP has been increasing, it is doing so at a decreasing rate (e.g. a 10.4% increase in 2010 and a 9.2% increase in 2011). This could reflect a contraction on the business cycle; as it is a period of the economy in which increases, but at a decreasing rate.

This article is about how in China the state always has control of the market and doesn't allow things like monopolies and ologopolies to exist that often and that they are always the ones who decide what happens in the end even if it seems as though the consumers are the ones that are making the decision.

This article shows the precise level of different economic activities within the UK at this moment in time, including Inflation, Interest rates and Consumer spending to name just a few sub headings.

By Jack Dolan, Los Angeles Times By Jack Dolan, Los Angeles Times A convicted killer who got caught because he'd tattooed a graphic mural of the murder scene on his chest raked in more than $30,000 in unemployment benefits while he sat in the Los Angeles County jail system, a sheriff's spokesman said.

This artcile involving an interview with YV Reddy, talks about how aggregate demand is very important to not only specific countries, but to the world, talking about how the Eurozone is a key factor within the worlds economies.

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.

This article relates to government intervention in the form of increasing the minimum wage in some states. However, this increase was met with an increase in unemployment; which we also looked at. This unemployment is caused by a high price where supply is greater than demand, and the need for workers therefore decreases (increasing unemployment).

This is an article from China earlier in the year, talking about how the demand for gold related items has grown rapidly over a short period of time. It is obviously very relevant to the topic this week as it talks about the markets demand for a scarce product, which will have a big impact on the product supply & demand curve.

This article focuses on the equilibrium in the oil market, or in this case a "fragile" equilibrium. Recently, Europe as well as other parts of the world, have been trying to find alternatives for using oil. For everything, other than transportation, there is an alternative to burning oil. So in places where the population is steady, and not rising dramatically...the demand for oil is going down, therefore shifting the demand curve and the equilibrium price. However there are still many countries in which the demand for oil is growing. I the oil industry, the equilibrium is constatly wavering...but so far, it has stayed in a range and hasn't strayed too far from that range yet.

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.

This article concerns the increased taxes being imposed upon alcohol in Sri Lanka. The reason for this is because alcohol is viewed by many as a 'necessity', and is also addictive (which makes it a necessity). This makes alcohol a product with inelastic demand; as an increase in price will result with a proportionally smaller decrease in demand. This avoids chances of unemployment by increasing the product's price, and is therefore a reason for the increase in the imposed tax upon it.

Aug 8th 2011, 14:29 by R.A. | WASHINGTON TODAY'S biggest news is the word that the European Central Bank is intervening in European debt markets in force, buying up Spanish- and Italian-government debt. The ECB spent last week expressing reluctance to take this step, but without it, the euro crisis threatened to spin irretrievably out of control.

This article discusses the rising problem in New Zealand, of rising prices on dairy products. We can see a distinction in this article between milk, on one hand, and on the other, butter and cheese. Milk in relatively inelastic, because it is a necessity for a healthy diet (especially for growing children), however milk and cheese are relatively elastic, because they are not as vital for a good diet, and their demand will likely drop a lot more than the demand for milk.