Economics IB Allen Perry

Gov. Jerry Brown signed legislation on Tuesday overhauling the state's management of its groundwater supply, bringing it in line with other states that have long regulated their wells. This is really important because california has large agriculture based businesses (central valley). In fact, the oppositions to the legislature were people in the agriculture business. This potentially allows water companies and regulators to intervene if water use is excessive or improper. This is an article directly discussing scarcity of water and natural resources and how the government regulates these resources. This passing of this legislature could also have some opportunity cost along with it; less water=maybe more expensive food, less food, more chance of dying crops (?)

this article talks about how Curitiba is trying (as usual) to not waste the scarce resources that we have by reducing (or trying to reduce) the combustion of fossil fuels so Curitiba (and many parts of Brazil) is taking one step closer of being a sustainable place.this articles also shows that the people who are producing this product analyzed what the people in the urban areas want most (transportation)and then tried to meet there needs, so the demand for this product is great and may mean that the materials used to make a regular car are used to make BRTs

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.

Venezuela is currently experiencing extreme scarcity levels in basic items and is also suffering from one of the world's highest inflation rates. Their economy isn't looking good.

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.

NEW DELHI: The Rural Development Ministry Tuesday ordered district administrations to ensure that water conservation work like construction of check dams and de-silting of traditional water bodies are taken up under the rural job act to mitigate drought-like situation.

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.

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.

this article is about whether or not the prices of oil are going to go up or not. Oil is in high demand so the price is changing so oil companies can make more money off of it. chaging the price will make the demand for the product change.

It is no surprise that smartphones are becoming more and more common. This article from TechWeek Europe displays how and why they are so popular. Especially the low costs increase the demand and encourage the buyers to switch to smartphones.

Lexington, Kentucky (CNN) -- Obamacare is expected to increase patient demand for medical services. Combine that with a worsening shortage of doctors. So this article explains the shortage supply od doctors and nurses and the increased demand of paitent needs as they now all need to have healthcare insurances and want to take advantage of its use.

Continue reading the main story The head of the Fiat Chrysler car group says Ford's profit warning this week has sent shockwaves through the industry. "All of us are still reeling from the effects of the Ford announcement," said chief executive Sergio Marchionne, speaking at the Paris Motor Show.

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.

This article underlines how scarcity of one resource affects the availability of another. Many of you shared articles concerning about the current water scarcity. Here, you will se how this water scarcity has affected the cotton crops.

I think that this article is strongly connected to what we have done this week. First of all, we have learned what opportunity cost is. Secondly, just like we did in the shipwrecked activity, the article is about the opportunity cost in our daily lives.

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.

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 talks about the sharp decline in oil prices this summer after an abundance of the good was extracted. The article also points out that the demand for oil still remains relatively constant. This increase in just supply - in accordance with the price mechanism - brought down the global price of the commodity in order to once again equilibrate the market.

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.

This article is about the Obamacare subsidies given to the people who are not aware of their eligibilities to healthcare insurances. Subsidies are not only given to firms; but are sometimes available for citizens and this is a very recent example for it- although ironically the citizens are not aware of this convenience.