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 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.

The article discusses a proposal by the Scottish government to impose a minimum price on alcohol in order to reduce the 'harmful effects of drinking'. Estimates conclude that this would save Scotland 950 million pounds over 10 years. Currently there is no concrete plan for a minimum price but the government is proposing an extra 40p per unit of alcohol.

In this article BBC special correspondent Tom Feilden 'looks at the reasons why the era of cheap food is coming to an end'. The article describes how the prices of basic foodstuffs around the world are rising at a rapid rate. It explains that a population boom and economic growth created a new middle class which drastically increased food consumption. This excess demand over supply has therefore hiked up food prices considerably.

This article from the BBC exposes the rate at which oil is running out, and the consequences it will have on society. The implication is that the market price of oil is far cheaper than its real value, and this means that consumption is rapidly exceeding production. The article questions whether oil rationing should be imposed in order to preserve this scarce resource.