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This article discusses that how with the spread of Ebola, to America, the demand for Clorox has increased. Earlier, the demand for clorox wasn't this high. Wiht the spread of Ebola, people have started buying CLorox more, creating a positive PED. In the textbook, it says that in short term the PED won't show great change. But here it shows a significant change,

Nowadays people are thinking that there is nothing to worry about in the oil industry of the world, but in economic terms, researchers are stating that the oil supply is becoming less elastic because new oil supplies come increasingly from unconventional oil. This is due to the fact that the new oil reserves that people are now exploiting are more expensive and they take much longer between the time the first well is drilled and when the first oil is produced

This article speaks about how as oil prices continue to rise, we must find a way to make oil prices more elastic.

It is about the changes in the PED of oil that is caused by the change in the sources.

Gasoline prices fall at different rates in each U.S. State due to different price elasticities in various areas. Some of the states with the highest rates of falling prices have the highest availability of close substitutes due to lots of oil refineries in the area, meaning that demand for gasoline is more elastic there.

Thanks to falling oil prices, America's motorists are enjoying gasoline prices about 20 cents per gallon cheaper than this time last year. The big move has come since July, with prices down about 15% nationwide - or nearly 50 cents - to an average $3.14 a gallon, according to data from Gasbuddy.com (find your state on our map below). Naturally, this has a stimulus effect on the U.S. economy - saving us about $100 billion in annualized fuel costs, according to economist Ed Yardeni. That works out to about $300 in annual fuel savings for every American. Just in time for the holiday season.

This is an article that explains what we've learned in the past few weeks, that necessities are inelastic compared to luxurious products. Furthermore it gives information about the customer types and even explains a strategy that can be used when consumer income elasticity is high. It also mentions that products have a "life cycle" and that this cycle is also a determinant in consumer behavior. Lastly, it adds that best method to determine income elasticity is to do research surveys.

The ubiquitous coffee chain is slashing prices on its packaged coffee by 10 percent - from $9.99 for 12 ounces to $8.99 a bag. Starbucks raked in $380 million from non-café sales last quarter - with a profit of about $2.55 per bag. The article indicates how in order to increase the quantity demanded for the baged coffee they will have to decrease its price.

In my opinion, this article is a great example what companies can do to keep up with the competition in the market and to increase the demand. It also shows how effective competition can be on even major companies such as Starbucks.

I think this is a great article to show how Starbucks is using price mechanism as a factor in competing against it's competition. It shows how a major company like Starbucks can become the market leader.

Due to the decrease in oil prices and other essential goods, people are spending more which is making the us economy grow briskly.

Saudi arabia is a large supplier of raw oil. It plans to cut down oil production even more due to the continuos falling prices of oil (since mid-June 2014). Apparently Oil demand is lessening while supply remains strong, causing the prices to drop. According to the International Energy Agency, this will be a year of slow growth for the world's demand for oil.

As oil prices fall as much as 18%, global economy is booming. The purchasing power of the citizens are expected to rise. This steals around 0.5% of the national GDP from oil producers and gives it to consumers.

The article is about how the prices of breakfast items had a big jump. Since these products are inelastic, their demand seems to be not affected from these minor price changes. Since there are not many alternatives or substitutes for these products (You wouldn't want to eat spaghetti in breakfast, would you?), people tend to show the least reaction to changes in the prices.

Article introduces a new way to fight obesity unhealthy food consumption ; by increasing the tax on fast food and sugary drinks and decreasing the tax of vegetables and fruits in order to encourage a healthy diet.

I think that this a great article in many ways. First of all, it shows how we can no look at economics in only one way and that nothing is actually certain because there are many determinants. One action can have exactly opposite results even. Secondly, I think that it is really interesting that a change would effect one group but not the other. I mean it is not actually "interesting" because it is a daily life that we can observe, but it was interesting to be reminded of that fact once more, related to what we have learned this week. Lastly, the strategy they have thought of to fight obesity really made sense to me. Nutrition is really important and it always seemed very irrational to me that all these junk food is more expensive than healthy food. It makes sense considering that different markets benefit from this situation, but still on something that relates to health, I believe that we should be more worried about society's benefit than companies benefits'. I believe that there may be exceptions to equilibrium, if it will benefit humanity.

There have been two significant changes in prices for travel in Bristol. One is the toll on Brunel's iconic Clifton Suspension Bridge doubled from 50p to £1 for a single crossing by car in order to meet the need for maintenance and repair. The another is that the First Group cut bus fares in Bristol and surrounding areas. Single fares for up to three miles were cut from £2.90 to £1.50; 30% discounts were introduced for those aged 16 to 21; half-price tickets were introduced for children from 5 to 15; and the two fare zones for £4 and £6 day tickets were substantially increased in size to attract more passengers and increase the revenue.

According to this article, there is a sharp increase in the price of beans used to make coffee drinks and therefore an increase in the coffee drinks themselves but it is not affecting the amount of people that still purchase the coffee. The article states that the people are very committed to their coffee drinking the substance in an almost 'ritualistic' manner. In this circumstance, the coffee can be thought of as having very inelastic demand.

The price for seating at sports events have always been considered inelastic, because of the need to fill up all the seats in the stadium, but as times change it seems that the prices for seats are becoming more and more elastic and are beginning to cost more per seat.

German business confidence has fallen to its lowest level in almost two years, a survey suggests, raising concerns about the strength of Europe's largest economy. The Ifo think tank's closely-watched Business Climate Index fell to 103.2 in October, down from 104.7 in the previous month.