Economics IB Allen Perry

Ciggarette is a good which is competitive, since it is inelastic Wallstreet is worried about because of the price rised, there can be a probable decrease in demand even though it is addictive.

The whiskey from a whiskey producer has run out, causing the elasticity to change for varying whiskey companies.

This article is about how income in India has become one of the fastest growing economies in the world and how the household income has more than doubled since 1985. This article further discusses how this rise in income has changed consumption patterns.

Due to the decrease in oil prices and other essential goods, people are spending more which is making the us economy grow briskly.

This is an article that explains what we've learned in the past few weeks, that necessities are inelastic compared to luxurious products. Furthermore it gives information about the customer types and even explains a strategy that can be used when consumer income elasticity is high. It also mentions that products have a "life cycle" and that this cycle is also a determinant in consumer behavior. Lastly, it adds that best method to determine income elasticity is to do research surveys.

This article talks about how large grocery retailers have had to postpone opening new supermarkets and might have to close down existing ones because of a decline in sales and decrease in income. Because general consumer income is spent less on food and increasingly on other goods like clothing, the quantity of food demanded by the public is going down and this fractional decrease is affecting the retailers.

This article focuses on the effect of skyrocketing grocery goods prices and different supermarket chains or grocery stores' customers' reactions to the increment of prices. It makes a clear comparison between stores with loyal customers who don't mind the changes and customers with low budget and these two groups' priorities and choices.

The price of chocolate in the UK could almost triple as a result of an increase in the price in cocoa butter and other ingredients necessary to make this succulent and palatable treat.

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 Author states that it should be repealed since it caused many job losses and "business environment" in U.S. deteriorates because of this tax.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.

here is an article about how the government in malta is puttiing excise tax on petrol. because peytrol and disel were becoming too expensive, and they needed a price reduce. but some people are arguing that it still isnt low enought.

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.

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.

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.

This article is about the new tax on soda in Berkeley, California. Apparently soda is now being taxed for 1c per ounce of soda. This tax (measure D) will levy a 1-cent-per-ounce tax on sodas and sugary drinks, and the money will go to the city's general fund. This measure wasn't intended to create funds for a specific purpose therefore it only needed the majority vote for it to pass. On the other hand, san francisco had a specific use for these excised taxes so it needed 2/3 vote for their proposition to pass (prop E). Furthermore, the excised tax for San Francisco would have been 2c per ounce of soda. This tax has been predicted to impact low income households since soda is predominantly consumed by them. This then leads to an overall increase in grocery bills, since the taxes aren't just levied on soda brands but also on grocery stores. This means that grocery stores may raise overall prices (of all goods) to pay the tax on soda.

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.

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.