Group items tagged

In this article, a serious negative externality of a public good is presented: deaths in a public road, or more specifically a motorway. There are numerous preventable accidents occurring in the road, mostly due to police inefficiency, and neglecting of safety standards. This public good is definitely an example of a market failure.

This article is about market for high-end and luxury goods in Asia. With an increase in income and spending power, there has been an increase in the demand for luxury goods.The article also highlights the movement of these luxury markets from NY and Geneva as a result of the economic crisis. Income has decreased in these places, therefore demand for luxury items has decreased.

Education is a public goods provided by the government in almost all MEDCs. If education is a public goods, the previleidge to receive education does not get stripped away even if someone else receives. However, in Haiti where the earthquake hit hard, children cannot receive proper education. In a country under crisis, education may not be a public goods, but rather a produce only available for those who have the will to pay and the ability to pay.

Toyota will recall 300,000 Prius hybrid vehicles because of brake flaws, newspapers reported Sunday, in the latest blow to the Japanese car giant reeling from safety woes that have sullied its reputation. this takes a tole on society for those who try to help unpollute the world. where this good is well, good and now its gone

This article talks about U.S. government spending on public health care. While the system is costly, it creates positive externalities. One of the main positive externalities here is the number of insured people in the United States. By providing a public good like health care, the government is protecting more of its citizens.

This article from the Ennhar Online shows the relative inelasticity of demand for cigarettes and tobacco in Algeria. The government has increased the price of cigarettes, tobacco and chewing tobacco several times, as well as imposing a hefty tax on importing and producing tobacco related goods. However, this has had little effect on the people of Algeria, who continue to smoke despite increasing prices. Because tobacco is an addictive substance, this has caused the PED to be inelastic.

This article is about the UK's record high trade deficit. This means that it imports more goods and services than it exports. This is because it does not hold a comparitive advantage in any production; it is cheaper to import, and have someone else produce a good, than it is to keep production at home.

This article talks about how Toyota's electric car has always had problems that need to be fixed. Toyota manages to solve thes problems and always brings back a better model. This article relates to Public Goods because the electric car is an invention that was created to help with air polution. Air is not something that can be bought or sold, and it is our reponsability to keep it clean. Toyota's electric car is providing an alternative to only using petrol to power cars.

President Obama hit the road again Tuesday to promote the new job-creation program he described as his No. 1 priority, but he refused to abandon his embattled health care legislation, vowing to "punch it through" resistance in Congress. The health care system proposed by President Obama is a public goods because it would be provided to anyone, with the interference of any to violate that right. Yet, Obama still struggles to push the health care plan through the resistance in the Congress.

Clean air is a public good, as it is non-rivalrous and non-excludable. The provision of clean air is a massive problem in China, because its rapid industrialization and high output has come at the cost of the environment, and subsequently created large amounts of toxic waste that is being released into the air and the water.

The government of Brazil has approved 61mn reals for the expansion of an airport. This expansion should reduce overcrowding in other airports. Because it is provided by the government, it is a public good. Because it reduces travel time, it creates a positive externality.

In this article New York City's health commissioner believes that the demand for cigarettes is price elastic and that with a high enough increase in price, there will be a large decrease in demand. This is contrary to the the notion that addictive goods have inelastic price elasticity of demand.

This article promotes Portugal as a place where to buy houses for summer and holidays; it refers to elasticity as the propaganda views that during holidays there will probably be an increase in demand due to the remanining accessible prices of houses in Porto and Lisbon. Since prices are good, demand at summer will tend to increase.

This article is about imposing a tax for the sole purpose of increasing revenue to put towards health care. The article talks about putting a percentage tax on all goods. In total, the burden of the tax should be spread out as there is a range of elasticities of goods being taxed.

This article describes how, in the midst of the economic downturn, hard-hit Eastern European countries are increasing taxes on cigarette and alcohol - goods with relatively inelastic demand curves - in an attempt to raise government revenue. A problem that many of these countries face is that a large proportion of alcohol and cigarettes are produced and sold without license/illegally, making it difficult for governments to collect revenue.

This article is about how the financial crisis of 2008 has affected the market for luxury yachts in the Middle East. The article reports that sales of leisure boats are expected to plunge up to 75% as people are less willing to splurge on luxury goods. This shows that the YED for luxury yachts is relatively elastic, as the loss of income resulting from the crisis has caused a greater than proportional change in quantity demanded.

This article from the Global Times is about how rising oil prices are affecting logistics firms. As logistics firms are involved with the transport of goods, oil constitutes a large part of their costs. In the past, these companies have been able to neutralize rising costs by increasing their service fees, but now that the economy is on the rebound, this isn't as easy.

This article is about the Intel using illegal methods to maintain a monopoly. The New York Attorney General says that the lack of competition means that customers are deprived of good prices.

Do you think the government should intervene here and regulate the prices so that the consumers can have better prices? If the government regulated the prices consumers would be more satisfied and the services would work better. The government could also bring in competition to regulate the prices.

Tobias Levkovich, chief US equity strategist for Citigroup says that protectionism can cause inflation ,a drop-off in business activity, and that US has other options to counteract the unemployment against cheaper import goods.

This is about the positive effect that trade has had on the UK economy. When more foreigners are buying UK goods, the economy benefits. This shows that decreasing a deficit of the balance of payments is beneficial for the economy.