Group items tagged

This article is about how consumers are paying more for fuel than they have before. The "Big Six" says that it is because of the "opacity" in the price system. This is due to tariffs. There is a "lack of competition" because consumers are unable to verify which prices are the lowest due to the tariffs. Consumers may be purchasing energy from the least efficient company and not know it due to the artificial prices due to tariffs. There are also two other problems. In a supply and demand graph with a tariff in place, one expects that when a tariff is set, the demand will decrease; this is not totally true for energy. Energy is a very price inelastic good and therefore the quantity demanded will not change by much when the price is artificially risen. The other problem with this scenario is that there are only six major energy producers, the "Big Six". This market is a very oligopolist market. There might be a decline in competition simply due to the "Big Six" working as a group to form an imperfect market. 

The price on alcohol drinks are set to a minimum price. Not only it is illegal, but it is also to reduce the number of alcohol drink being consumed by the consumers.

This is a form of price discrimination as prices of oil are increasing even if the supply of oil is increasing. And the suppliers able to do this and still earn profit as oil is an inelastic good and a necessity. However the suppliers do not have to worry about reducing the price of oil as the demand for oil would not become elastic (at least for now and a long time).

This is not really an example of price discrimination as consumers are not separated in different groups and prices are not different for different consumers.

This article is briefly explaining what is price control and when price control is involved in the process. It is also about the history of price control and it defines why government needed to start price control.

This article is about the supply of gas, the demand for gas and the prices of gas. The article also mention the possible effects of the price changes in ethanol and crude on gas prices. According to the changes in ethanol and crude, the responsiveness of demand for gas can be observed.

This article about the increasing of oil price in India.

this is where price discrimination occurs.

Tiffany, articles from a dictionary do not count as news articles and this is not what this assignment is about.

The rises of tax may be the reason why UK houses' price are falling as there are many people putting their homes on market.

The article is about the UK government which intends to intervene in the market by controlling the condom prices.

The new article is about hte cross-price elasticity of demand is used to see how sensitive the demand for a good is to a price change of another good.

Ozge, this bookmark is not a news article but a revision material which would be useful to include in the wiki study guide. Bookmarks should be 'raw' news articles from the web that will give students the opportunity to use learned concepts to analyse in future blog activities.

This article talks about the increase and decrease in price for overnight bookings/stays for hotels in European countries. We can see that there are several different 'firms' or 'hotels' that are both increasing or decreasing room prices to make profit/attract customers.

This article talks about how the increase in oil prices could lead to a recession (or "trigger" a recession). This is possibly due to the fact that there is a decrease in quantity demanded (due to the increase in price), which would further lead to a decrease in output in the end.

This article is about how the Argentinian government is protecting the domestic production of BlackBerrys in order to "cut foreigners' share of Argentina's mobile-phone market". Even though this seems to be a valid case of protectionism, it will "cost $23m upfront, plus $4,500-5,000 a month per worker, some 15 times more than in Asia". This is because Asian laborers and factories have already perfected the production of cell phones. They have the 'factor endowment' in the production of cell phones. This is because to start a factory in Asia, the price is already low. Also the labor is cheap and skilled. The start up price for this endeavor is already going to be $23m, they will also have to train the workers and pay them more than they would if the Argentinian companies outsourced the production to Asia. Another problem with the domestic production of cell phones in Argentina is that Argentina, at this moment, is not known for their production of cell phones. They are not a place in which companies like Motorola or Nokia look for to manufacture their products.  Argentina could do this but it will take them a long time before they clean of their capital debt. In the short run, they will not make any money but nobody knows for sure what the long run has in store for this unorthodox market. In my opinion, Argentina should focus its money on something that will be profitable not only in the long run but also in the short run. This is possible. Argentina has a factor endowment, its tourism. It does not take that much money and effort to increase the amount of tourism in a country that is obviously beautiful and worth seeing. Even if they were not to invest in tourism, they could focus on, for instance, the exporting of more beef or fish. These are things that people already are accustomed to getting from Argentina. It all bundles down to this: when you think about Japanese production, you think cars and phones. When you think about Argentinian production, you

This article documents the rising demand for silver due to its many industrial applications, particularly its use in electronics and solar panels. This rising demand has cause the price of silver to drastically rise, even outpacing the price of gold.

This is a very nice article about the fall in British house prices. The article makes comments on the whole British economy. It even compares it with the US economy.

The Sri Lankan government has recently introduced a price ceiling on rice, establishing a limit at US$0.65 per kilo.

This is an article explaining the prices on diesel, which may affect people in being able to afford to consume the oil.

Airport tax will leap by up to 55% from Monday, adding hundreds of pounds to the cost of family holidays abroad. In the article when you read in detail you can see price control of government about the "tax" issue.

as the oil prices increases, high sales are on scooters, bicycle and others.

This article is about the cocoa prices rising due to the income elasticity of demand and how chocolates may soon be considered as a "luxury good".