IB Econ HL Section B

The price controls implemented on products like seamless steel pipes have caused a glitch in fair trade worldwide. As a result, imports from China have surged and domestic producers have accused the Chinese government of setting unfairly low prices. Another problem undergoing scrutiny is whether or not Beijing has been manipulating its currency.

The prices of the once popular Crocs must now be altered to suit the falling demand in the market. When Crocs hit their peak popularity, the demand for the shoes increased greatly. Millions of pairs of shoes were produced and sold. Then, demand fell but supply was still high, and now the prices Crocs are selling for must be adjusted so that the demand for them will potentially increase once again.

This article is about the opportunity cost of producing biofuels. When the amount of water needed to irrigate crops is factored in the average mileage is 50 gallons of water a mile.

This article is about American's statistics of Keynesian economics. Some people think that its a good way of economy which helps US to stay in balance, other people think that Keynesian economics ruining US economy. -Washington has continued Keynesian economics well into the 21st century and that alone has caused the current economic collapse of the US economy. National telephone survey suggests that only 11% of Americans agree with the idea that the federal government needs to spend and increase the deficit during tough economic times, while 70% disagree with Keynesian economy. Americans should come ti agreement on which economy they should choose, so it can help them to get out of crisis.

This article speaks about the United States, and about President Obama's desire to boost employment. He wants banks to increase lending to small businesses as a way to increasing employment.

In this article, Obama's intentions of increasing employment levels and economic growth are being shown through his pressure on banks to increase lending to small businesses.

A group of United States congressmen yesterday sent a letter drafted with their legislative counterparts in Korea to Presidents Barack Obama and Lee Myung-bak urging the renegotiation of the U.S.-Korea bilateral free trade agreement. The letter calls for restrictions on certain service industries and a revision of provisions on a dispute settlement mechanism involving foreign companies. Beef and auto provisions, the main stumbling block to the ratification of the pact on the U.S. side, were not mentioned.

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.

Bangkok is now initiating a micro-finance scheme to make automobile and motorcycles more convenient and accessible to the average citizen.

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.

With the increasing demand for oil, developers are looking into projects like the Lower Tertiary in the Gulf of Mexico. While such developments could produce as many as 15 million barrels of oil, they would also be plunges into the unknown. Not much is known about the Lower Tertiary, and therefore any possible developments there could obtain less oil - and less profit. However, because oil is in such high demand internationally, the oil developments may actually prove to be economically beneficial to oil producers, given that the producers are willing to take the high risk in searching for the oil.

Scientists have predicted that fossil fuel will completely deplete in the naer future of mankind because of the human's abusive use and the attachment to fossil fuels. Oils are now considered valuable and SCARCE. However, new oil basins have been found in several parts of the world. Being said, oil may not have been scarce as it was thought to be

With the current recession, many consumers have switched from luxury car brands to inferior ones. With the decrease in income, people have switched to car brands that are more affordable but still enable mobility. As a result, the luxury car industry has seen a decrease in sales from previous years.

This articals explains how seafood at a large canadian seafood company try to keep steady prices with a very inacurate knoledge of what fish will be caught and the demand on that determined by price of the amount of fish in the stores. Currency can rapidly rise and fall in canada for fish markets suffer.

Nepal is currently suffering a shortage of banknotes, resulting in some businesses being unable to pay employees. The government hopes to solve the issue by introducing old banknotes that were never circulated. This shortage is an example of scarcity as applied to currency.

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.

This article is about a US imported product--Toyota brand cars from Japan--with safety issues. Because the problems with the accelerator pedals could be a concern for US consumers, the United States government may have considered taking action. This would be administrative protectionism.

Saudi Electricity Co., a state- controlled utility, said third-quarter profit advanced 34 percent on higher tariffs for power in the Arab world's biggest economy. This is relevant to this week's topic because here, tariffs is considered as a major source of government revenue.

This article relates to the topic of income tax because it is talking about the different parties in the English government will change the income tax to please the public.

This article shows possible negative effects of welfare on an economy. In this case, the citizens between the ages 35-54, who have no excuse in not working, who cannot support themselves are creating a dead weight effect on the economy.

This article refers to the topic of welfare payments because it is talking about the different parties in Great Britain clashed today over how to pay for a reformed welfare system and when to introduce it.