This article talks about Indian government relaxing price controls of drugs. It now controls 74 bulk drugs, but this number is expected to halve under new policy.
Currently, there are price controls on formulations with a 50% market share and annual turnover of 40million rupees. This figure will be relaxed to 250m.
This article illustrates the differing prices of Apple's iPad devices in various countries. It cites reasons such as proximity to manufacturing base, average GDP per person as reasons for the disparity in prices across the globe. The article implies that the elasticity of iPads would be different in different regions of the world. The iPad as a device is interesting in the study of elasticity as it is akin to other forms of technology that are constantly developing. With more and more technology developing, elasticities for technological products are becoming more and more elastic due to the great number of substitutes available.
This article talks about how Taiwan's standard of living has passed Japan's. Although Japan's GDP per capita itself is still far larger than that of Taiwan, when taking into consideration of the price of the two markets, the real relative income for Taiwan is larger than that of Japan. The role that price plays here is that it serves as a clarifier of the numbers which may mislead the people into believing that the standard of living for Japanese people is twice as good as the Taiwanese's.
This article involves a the average Thai household's rice consumption and the demand elasticity as a a result of this consumption. The authors Somporn Svilanonda and Weerasak Kongrith analyze the patterns of consumption and the resulting price trends.
The cost of groceries in Australia has been going up and up, with consumers paying the price in a market largely controlled by two giants, writes Tania Dey.this article is about rising food prices. and can competition help.
Prime Minister Commodore Voreqe Bainimarama has chosen to lower the price of food so as to allow the villagers of Fiji. Still the price was left high enough to let businesses a good profit. This is a perfect example of price roof that doesn't have negative ripercussions on the market
This article talks about the price of some essential food products soared 30% in 30 days, so the government could introduce a maximum price of a food product.
This article discusses the risks and benefits of a price control set on oil prices in typhoon-hit areas. There is quite an extensive discussion on why it is a bad or good idea.
If I understood rightly what the article talks about. It touches our lesson by two different ways:
1) A maximum price is put to the mutton exported from Australia in order to have more a less the same price as the national produced mutton.
2) During festival days, when demand increases on those typical resources of those days. Price ceiling is maintained by government in order to make prices not reach abusive by sellers.
"Putting caps on prices is only a short-term solution"
Asian countries, China, Malaysia, and the like, are reluctant to raise prices on fundamental goods such as food and petrol. This allows the people of the country to have access to cheap petrol and thus more motivation for actions which lead to economic growth using petrol. Although the price caps seem beneficial for the country, that is only true in the short run. In the long run, the price caps will increase consumption in the country, and thus increase the demand for more crude oil from abroad which will lead to a rise in global prices of crude oil. Thus, looking ahead, it is for their own sakes that Asian countries should cut down on their price controls on such goods.
This articel reveals the unwillingness of India to relinquish control over oil prices. This because of a need to keep them managable for their large poor population and to control inflation.But the are lifting these prices incrementally to prepare them for market control
this article explains certain issues with regards to price controls of wine. wine cost control is important because subsidizing wine industry is an important topic in the Eu and in world, this article has intself many aspects and problems which could be faced due to wine control and here is also said why is it difficult to control it.
The article discusses price controls (ceiling prices) as a remedy for rising inflation in certain Asian economies (all above 4 %). The ceiling price was employed on food prices that were the main cause for rising inflation. The price controls were an alternative to raising interest rates which would raise the value of the local currencies by attracting foreign capital. The article discusses the feasibility of price controls as short term vs long term solutions. It states that price controls reduce incentives and efficiency in the long run by not rewarding producers appropriately. Nevertheless, they are effective in this particular case since the rise in price of food (pork rose 60 %) was mainly attributed to supply irregularities. If the price rises were caused through excessive demand, then price controls would perhaps not be as beneficial in the short run since the likelihood of a black market developing/smuggling would be much higher.
This article is about an important bid proposed by BHB Billiton, an Australian mining company, to takeover Canada's Potash Corporation in order to secure global commodity supply against growing demand and population growth in developing countries.
The lowering prices of Madagascar's vanilla, lower the wages for the farmers in this industry, which causes some of them to leave their crops. They earn a little over $1.50 per day, due to the new low costs of the crops ($500 per kilo before, and now $30 the kilo). These low prices are essentially caused by competition and the new popularity for synthetically produced spices such as vanilla.
