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Home/ Economics IB Allen Perry/ Contents contributed and discussions participated by Isobel Stephen

Contents contributed and discussions participated by Isobel Stephen

Isobel Stephen

Inflation is dead: It's below 1 percent in the U.S., U.K., Europe, China, and Japan - 4 views

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    "R.I.P., inflation. You had a good run, but it's over now that prices are rising less than 1 percent in the United States, United Kingdom, Europe, China, and Japan." Inflation is one of the main effects of economic growth in a country, indicating that the economy is in the "boom" phase. However, after a boom there will always come a recession, meaning that rates of inflation will decrease and give way to the problem of unemployment.
Isobel Stephen

Venezuela Faces Shortages in Grocery Staples - 0 views

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    "But many economists call it a classic case of a government causing a problem rather than solving it. Prices are set so low, they say, that companies and producers cannot make a profit. So farmers grow less food, manufacturers cut back production and retailers stock less inventory." In Venezuela, poorly executed price ceilings are causing massive shortages of many necessities. Although prices are cheap, it is extremely difficult to find necessities like bread or toilet paper.
Isobel Stephen

Hungary Taxes Alcohol, Soaps, Shampoos, Supermarkets and Advertising - 0 views

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    The Hungarian government recently approved taxes on a wide variety of goods including soap, advertising, foreign firms, unhealthy food, and more, and other taxes including Internet usage and tobacco are in the works. Prime Minister Viktor Orban imposed these taxes to help reduce Hungary's deficit, but he has been warned that they could impede growth and investment, as taxes shrink the market.
Isobel Stephen

In Which States Are Gasoline Prices Falling Fastest? - 0 views

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    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.
Isobel Stephen

Aboard a Cargo Colossus - 0 views

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    "Few carriers besides Maersk are profitable, too many new ships are being built, and demand for space on container ships is slowing as economies in Europe and Asia face headwinds." This article is about how the supply of space on cargo ships has vastly increased in the last 15 years, but demand slows as economies around the globe face the recession. This example shows how a situation of excess supply can be created due to the external forces of demand decreasing due to lower income.
Isobel Stephen

Natural-Gas Dips to Biggest Losses in a Month - 2 views

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    "Natural gas briefly sank to its lowest level in a month as forecasts for warmer weather point to lower expectations for heating demand. Natural gas for November delivery is down 12 cents, or 3%, at $3.919 a million British thermal units on the New York Mercantile Exchange." In this article, you can see that because the factor of the environmental conditions (warmer weather) is lowering demand for heating systems, natural gas stock is going down its demand curve - te quantity stays the same while the price lowers.
Isobel Stephen

With Ebola crippling the health system, Liberians die of routine medical problems - 2 views

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    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.
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