Group items tagged

The article is written about a survey that was consucted in Australia to study the elasticity of food items. 15 food groups were surveyed and compared to each other. Milk, bread, fresh fruit and vegeatbles were seen as the most inelastic. Even when prices were increased people bought these items and could absorb the price increase easily. Normally sales would have increased with a drop in prices and decreased with a hike in prices but not in these cases. This clearly shows what we studied this week about how essential products are inelastic. The article also discusses how Aussies in comparison with the American and Canadian are more likely to give up meat in case of a price increase.

This article talks about how the recovery in the economic growth in India has weakened after three months of straight-increase, however the economic growth of India remains positive. This situation has been manly caused by the fact that there has been a slowdown in consumer sectors and investor demand and mantaining the confidence for these two would be essential to ensure a sustained economic growth. The BluFin Business Cycle Indicator (BCI), aims to meet everthing of the business cycle, and took into account five areas -- capital markets, foreign trade, policy, real economy and survey to determine and measure this situation

Public sector banks, from State Bank of India to Allahabad Bank, will hire as many as 56,500 people in the next six months in the highest ever recruitment drive by the industry in more than a decade as business grows and the threat of new banks looms as the Reserve Bank of India plans to issue new licences soon. The recruitments by more than a dozen banks will be 30% higher than last year's numbers as hopes of business cycle turning for the better grow, bankers said.

This article talks about the Indian Private Sector Banks planning to hire more than 56500 people to work for them in the next 6 months, essentially creating 56500 jobs. It would be the highest recruitment of jobs in more than a decade and would help solve the economic crisis. It states that the recruitments by more than a dozen banks will be higher 30% higher than last years. What we can see here is the trough of the business cycle where the economy cannot get any worse, so therefore it will improve. India made the important leap of changing from the contraction area of the curve to the expansion area where Real GDP will grow !

This is a rather intersting article as it shows us how the industry in India is growing and how this has given jobs to that incredible amount of people. I agree with your point that the economy can't get any worse, thus there will be improvements when it reaches a certain point and therefore the real GDP wil grow.

The coral reefs in Sweden is an important common resource where it provides habitat for many marine life and maintains biodiversity. However increased human activities such as trawling and eutrophication has caused the number of coral reef sites from 3 to 1 and the last remaining site is in bad condition. Coral reefs, once damaged causes many of the species of marine life to disappear and extremely difficult and time staking effort is required to restore. This is an example of "tragedy of commons" and adequate measures must be made to prevent further tragedy from happening.

This article talks about the decline in coral reefs due to a virus affecting their growth. This is a huge problem for the oceans because coral reefs support around and estimated 75% of all sea life and with out them, well we wouldnt have any fish to catch. So the survival of corals in our seas is absolutely essential.

I thought this article was relatable since we are all students and looking at internships in the future is something many of us will have to go through. In this article, it explains that sometimes students are reluctant to take up unpaid internships. This is because even though it would be very good for work experience some can not afford to not get paid. Being a student is expensive: having to pay for their education, a place to live and everyday essentials. I thought this was a very good example of opportunity costs, either gain the work experience but have to cut down on living costs because you are not getting paid or find a paying job but that might not best suited for your interests. Another issue they mentioned was that if all interns were obligated to be paid that many companies would cut back or completely get rid of their internship programmes. So this was another example of opportunity cost, either have fewer internship programmes and positions and, if you are lucky to get the job, get paid or, continue to have many unpaid internship positions.

This article gives an example of how the value of the currency may benefit the economy but also affect the economy in the short and long run. Venezuela has faced food shortages in the past years, so the government decided to devalue its currency, in order to ease this shortages that are progressively increasing. However, it is expected that this measure will increase inflation and eventually weaken the economy more than it already is. As bolivars are worth less, then less American dollars can be exchanged, affecting the economy and the shortages becauseless imports can be purchased, and some of these imports are really essential (e.g. cornmeal, chicken, sugar, etc), and as it is stated Venezuela is really dependant on imports. This is a perfect example of how a weak currency may be positive yet really negative at the same time.