Economics IB Allen Perry

Currently in the global world, prices of oil are falling and demand is increasing. However prices of oil will stop fallng as there would be supply cuts in order to keep the market at equilibrium.

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.

Oil prices are based on the supply and demand of it and not on its costs on the environment. "They price oil and gas based on current demand and supply, and not based on the costs to the planet in pollution, global climate change, sea level rise, and more."

"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.

NEW DELHI: The country's premier oncology treatment institute Tata Memorial Centre has recommended inclusion of 12 key cancer drugs in the national list of essential medicines (NLEM), prices of which are regulated by the government, an official source said.

This article discusses the issues being faced by opposing groups while trying to determine the correct price controls for sugar.

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 about how China decides to set some price controls on certain markets in order to prevent inflation and provide its citizens with better living standards and enable the businesses to operate in a healthier way.

This article talks about including 12 new drugs on the list of those under price control. What's unique about these drugs is that they are commonly used by people undergoing cancer treatment. By setting a price ceiling for these drugs, the government hope to make them more accessible to wider range of people and hopefully save more lives.

This article is about the excise tax is coming in 2018.

this article talks about a recent food problem in Lebanon. where restaraunts have served food with fecal matter and decaying anmimals in it. and as a result some stores are raising the prices of there meat because pwople will pay more for the good meat. But the government is putting a price ceiling on meat. so companies cant take advantage of this.

This article discusses whether the UPA government is contemplating a return to price controls.The government has apparently decreed that Rs 190 per bag is a fair price, beyond which a higher excise duty and other unspecified consequences will kick in.

This article discusses how the Indian Government is clamping down on tobacco consumption by imposing higher taxes on cigarettes, chewing tobacco products, and unmanufactured tobacco. The increase in excise duty in the range of 11-72% for different types of cigarettes is the steepest in a decade. With this move, government taxes are projected to account for around 70% of the retail price of some cigarette types.

The government of Brazil decided to place an excise tax on imported cars in order to help its local industry of motor vehicles. This increase in price is done to discourage foreign purchases and encourage local purchases.

This article deals with the looming problem of increasing taxes in the US. When the government increases the taxes on goods, it makes purchasing goods very difficult for people with average incomes.

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.

This article is about the tax for medical-devices that was started 1.5 years ago. Author states that it should be repealed since it caused many job losses and "business environment" in U.S. deteriorates because of this tax. Also, because small companies that produces medical devices are having a hard time, since sales have dropped, major companies have become more powerful. Fınally, author states that as longer this tax is imposed, as longer it will stay.

Why does the medical-device excise tax still exist? The tax is a universally reviled Obamacare revenue-raiser, skimming 2.3 percent off the sales of medical devices. Outside liquor and tobacco, most Americans don't see excise taxes, which are levied on gross sales, irrespective of a company's profitability.

Berkeley becomes the first city in the United Sates to place excise tax on all sweetened beverages. This tax is hoping to reduce the amount of sweetened beverages purchased and create a decrease in the volume of sweetened beverages consumer by the population.

Between 2000 and 2013, governments increased cigarette excise taxes more than 120 times. Companies like Altria oppose tobacco excise tax increases because it create motivations for counterfeit cigarette business. This article analyzes the rationale behind arguments about cigarettes and try to get a sense of the impact of excise taxes on cigarettes in Massachusetts.

TOKYO (Kyodo) -- Prime Minister Shinzo Abe said Tuesday he will dissolve the lower house Friday for a general election and postpone a planned consumption tax hike, citing the economic downturn following a tax increase in April. Abe told senior officials of his Liberal Democratic Party and its junior coalition partner Komeito that campaigning for the House of Representatives election will start Dec.