Group items tagged

The article talks about one of the world's most tragic tragedy, which is "tragedy of the commons". This theory explores when a resource is available jointly, people often deplete these resources, rather than save them. To further support the theory, the article focuses mainly on "over-fishing" and how the ocean is a "common area", therefore anybody can choose to fish out there, and this leads to the problem of over-fishing and destroying the habitats of the high seas.

This article discuss that due to the melting of arctic ice and over exploitation of fish area known as dead zones are quickly spreading thereby deteriorating the 'common' high seas known to be economically beneficial to all.

This article talks about how our over dependence on the seas are affecting them and in turn affecting us. Since the seas are responsible for so much in human life, the deterioration of the seas could greatly affect different facets of human life such as climate among other things.

This is an article about the opportunity cost of buying several models of Porsche 911. It mainly focuses on different variations of opportunities of purchases rather than buying one Porsche 911.

An Asian Development Bank said that India is in danger because of the water scarcity conditions. The annual average of water is reducing per capita and it will cause a water scarcity. They are in a dangerous position. Unfortunately, there are also some other things that causes the increase of the scarcity like more demand of water to factories or some changes of amount of water of rainfalls. I think this is a really important problem, especially for this times. Last year, it didn't rain very much in my city and we had some little problems about water because we didn't have any in our dam. For several weeks, we didn't have much water and I had never thought that would be a difficult thing. It is hard to take a shower, or to brush my teeth with less water. This article was interesting because water is like the most important thing in our life because without water, we can't do anything. I also related water scarcity to my city this summer and I hope that it will rain a lot this year.

Bananas have increased in price in India therefore the demand for bananas have decreased while demand for other types of fruits have started to increase. The supply of bananas have decreased due to transportation prices.

This article addresses the demand for oranges in India. As the price of these substitutes of oranges goes up, naturally the demand of these goods go down. The result of the lowered demand of these goods is the rise in demand of the oranges.

The WSJ's Numbers "guy": The true cost of electricity is difficult to pin down. That's because a number of inputs comprise it: the cost of fuel itself, the cost of production, as well as the cost of dealing with the damage that fuel does to the environment. Energy Points, a...

This article shows opportunity cost because the health care systems of Liberia and Sierra Leone must dedicate the entirety of their resources - space in hospitals, as well as equipment (capital) and the labor of the doctors -so that the system is unable to take care of people who are sick with diseases other than ebola. They must allocate all their resources to ebola, and none are left over for victims of other diseases.

The holy river of Ganga that flows through new Delhi, capital of India, supports the lives of people living in about 118 towns. Over time this river has become highly polluted; some factors to blame for this would be modernization and ignorance. During the summer of 2014 a new Prime Minister was elected who has set up a project to clean this water body. The opportunity cost in saving this water body is time and financial resources. Roughly, it is said that the government plans of completing this project over 18 years while using millions of INR. The government is giving up these valuable resources to achieve something that is of high importance.

By Binsal Abdul Kader, Staff Reporter Published: 07:00 July 13, 2014 Abu Dhabi: Food waste adds pressure on the UAE's scarce water resources, according to a senior official of the UN's Food and Agricultural Organisation (FAO). The article talks about food waste in the UAE and how it affects the current issue of water scarcity. Since production of food needs water, so when it goes to waste the water used to produce goes to waste. In addition to wasting of water, all natural resources used to grow, process, package, transport, and to market in goes to waste. The UN's Food and Agriculture Organisation representitive stated that more public awareness is needed to inform the population of water scarcity. In addition to that he informed up to 30 percent of natural resources and energy used to produce food is wasted along with the lost or wasted food. That tells us that more water is even wasted, while other countries suffer from starvation and lack of water. This article interested me as this is new information so I agree that public awarness should be increased as this is a huge issue.

The iPhone 6's demand continues to increase everyday, outstripping the supply it can provide to the people. This is a great example on how price mechanism works in our real world, where people are more attracted towards luxury products and would do anything to get it.

As I read ,Iphone 6 became a new hit in the World and it will continue to be.Regardless of its price people are tent to buy it all around the world.Demand is higher than as Apple expected .Changes in prices influence the production of goods and services and the demand for them so production will be more but whether they change the price or not there won't be a decreasing change on sales of Iphone6 which is an example of price mechanism

Iphone 6 has become the preferred product for mobile consumer users and seen as a sign of prestige as well as satisfaction derived from getting the latest product. Preference is a factor that influences demand of a product. Therefore the demand for Iphone 6 will continue to remain high in the market irrespective of change in price till consumers preference changes.

Australians' standard of living improved in the past year as a rise in the cost of living was outpaced by average income growth, new analysis shows. The cost of a typical basket of goods increased by 1.4% throughout 2014, compared with income growth of 2.7%, according to the report by the National Centre for Social and Economic Modelling (Natsem) and analytics provider SAS.

Labour has cast doubt on the future of HS2 but just what are the arguments for and against a new high-speed rail link? This article is about the discussions in England, about a highspeed trailway system. Authorities are arguing if it will be for the benefit or disfavor of the country. The opportunity cost for connecting the urban and rural areas and providing ultimate transportation between big cities and small towns; is the extreme flow of money from minor settlements to metropolitan areas, causing a huge economic leap and difference between them.

A commodity boom has helped pull millions out of poverty across South America over the past decade. It has also unleashed a new scramble for oil, minerals and cropland that is accelerating deforestation and fueling a new wave of land conflicts from Colombia to Chile. The land and the forests are poorly regulated and protected leading to illegal plundering of resources which end up deteriorating and damaging the environment. This article is also a good example of negative externality of consumption and how demand can indirectly increase the damage inflicted on the environment. Since the amazon rainforest is only protected in some places and not in others (and the protected places are still open to the public), it is a common resource that is constantly being violated and reduced.

10% of China's land is arable. In this percentage, a tons and tons f grain is produced. Over the years, due to shifts in non-price determinants of either demand or supply, the equilibrium of the grain market has been disturbed. The market, has not been able to adjust to a new equilibrium hence there is an excess supply of grain which is going waste. China needs to apply the price mechanism to attain an equilibrium, and stop a surplus from being produced.

This article discusses how the price of oil has slumped from $115 to $92, a decline of 20% and the lowest for more than two years has in turn increased the quantity demanded for the raw commodity of oil. The article also discusses how this chain of events will allow for an increasing equitable distribution among consumers.

To address the huge needs of African populations, companies must seek wealth creation and, along the way, create jobs, generate tax revenue and distribute purchasing power. If profit is essential to effective contribution of the common good, we need to agree on what kind of profit we are talking about. Summarising the history of capitalism with a broad brush, we can say that 1.0 version is characterised by the pursuit of wild profit, with no care for law nor morality. Capitalism 2.0 pursues legal profit and the 3.0 version emphasises legitimate profit.

New Delhi: Some 12 key drugs which are used in cancer treatment, may come under price control. National drug price regulator has sought comments on recommendations of Tata Memorial Centre to add 12 drugs in the National List of Essential Medicines (NLEM) while asking for deletion of three drugs.The Tata Memorial Centre had said that there was huge scope for price reduction of these drugs, which are commonly used by those suffering from different kinds of cancer.

this article is talking about how climate change is the ultimate negative externality cost. as we will have to soon pay billions to keep climate change from getting too out of hand. and even if alot of people arnt the cause of the downfall of our climate, we will still have to pay the damge.

This article indicates the The Reserve Bank of India's expectations of inflation to remain near current elevated levels for the remainder of the fiscal year that ends in March.As I see ınflation is a big worry for countries and it has an important place in economics.

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.

in this article its talking about how the price of oil drops and continues to drop. and the most likely reason for this is that the world is loosing the amount of oil it once had. So since the world is loosing the amount of oil it once had the price keeps dropping. as there is a lack of supply of it