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.

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.

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.

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.

The Australia federal government announced plans to increase the tax on fuel despite not having parliamentary approval for the measure. Due to the rise of tax on fuel, the price of fuel tends to increase next month. The Minister claims that the effect on petrol prices would be "modest". But the impact on our capacity to build a stronger more prosperous economy will be significant. The measure is expected to expected to raise the government $2.2 billion over four years and $19 billion over the next decade.

"India's merchandise exports expanded by more than 10% for the second month in a row in June, the latest sign that India's economy may be rebounding. June exports rose 10.2% from the year-earlier month, to $26.48 billion, after climbing 12.4% in May..." This shows how an injection (export) to the circular flow system of India has caused the money flowing to increasing for the better of the country. This is helping cover up the leakages that Indians spend on imported products mainly. The campaign by the new Prime Minister to increase exports and decrease imports is having significant impact on the countries economy.

In order to meet the demands of electricity in Nepal as well as export electricity to power-hungry India, the Nepal government agreed allow GMR to construct the 900-megawatt Upper Karnali hydroelectric power plant in the northwest. The project set for completion in 2021, which will provide 12 per cent energy free to Nepal to ease a crippling power shortage and help its economy emerge. An agreement was signed to construct transmission lines across the border to transmit the remaining electricity to India, which can help reducing the extreme scarcity of electricity in India. I agree with the project because this can decrease the scarcity level in both Nepal and India.

The robusta bean, commonly used for making coffee, is going up in price as the result of the growing demand for coffee. The demand for the robusta bean has grown greatly over the last years as a cost friendly alternative to the more expensive arrabica bean. The gap in price between the robusta bean and the arrabica bean are closing in on each other, as more businesses are looking to minimist costs.

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...

Because the High Seas operates as an unregulated global commons, its wild fishes population are in precipitous decline. Since they are accessible by any nations, where any nation can take as much as they want. Having no catch limits in the High Seas, migratory fishes are being overfished and their population are expected to continue to decline. However, researchers found out that closing the high seas could double the populations of the important fishes species.

This is also article also highlights the point similar to my article since that people thought that they could take as must fish as they watned out of the ocean since they thought that the negative externalities is shared by everyone while the profit was not.

More than four years since the Great Recession ended in June 2009, the unemployment rate is 7.3%, a big improvement from the high of 10% in the fall of 2009. Unfortunately, the rate is hugely misleading: Most of that improvement was for all the wrong reasons. This is an article that focuses on the unemployment rates in USA since the 2009 Recession. By reading this article many can be learnt about why the unemployment rates are such or how healthy the labor market of USA is.

Fuel is a non-renewable resource that is in the brink of extinction today. This has caused the price of fuels to sky-rocket. Airlines is a huge industry affected by the price hike. People all over the world now prefer flying than going by train.But the increase in fuel price has affected the price of airlines tickets. The prices of the tickets are high now, and airlines are losing their customers, reduce in the demand.

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.

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 Obama administration has announced plans to accelerate a shift in how the U.S. pays its $2.9 trillion annual health-care bill. Officials at Medicare, which covers one in six Americans, want to stop paying doctors and hospitals by the number of tests and treatments they do.

The Obama administration has announced plans to accelerate a shift in how the U.S. pays its $2.9 trillion annual health-care bill. Officials at Medicare, which covers one in six Americans, want to stop paying doctors and hospitals by the number of tests and treatments they do.

The Obama administration has announced plans to accelerate a shift in how the U.S. pays its $2.9 trillion annual health-care bill. Officials at Medicare, which covers one in six Americans, want to stop paying doctors and hospitals by the number of tests and treatments they do.

This article is about Apple couldn't supply enough iPhones to satisfy the demand of customers, due to supply constraints. The shortage on the supply was not due to a strategical mistake: Releasing it on the west and China simultaneously, resulting 9 million sales on the first week, exceeding the expected number.

When Apple released its new phone there was huge surge in demand as the factor influencing demand, consumers preference had inclined towards Iphone's. Thus, the supply of Iphones could not be kept up to the demand.

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.

Our modern global economy struggles with the challenge of using limited natural resources without exhausting them. It seems difficult to keep the common privatised and put regulations so that they arent overused by the community. In addition to that it was mentioned that privatisation can lead to the destruction of local economies in some cases

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 rapid growth of countries like China has led to growth in the size of the markets for many luxuries. With incomes rising in emerging countries, demand for many the luxuries has been growing. However, in the past year, due to the recession in China and Europe, Prada expects its growth in sales to January 2015 will be 'low single-digit' - less than the 7% figure recorded for the last financial year.