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Due to big events like the Olympics, the country receives a lot of overall income due to all the visitors of the such events. It will boost up the GDP since it measures all the assets produced in the economy and due to the event more assets are produced than normally.

It's a great article about the relationship between the consumption, the investments, the government spending and the economic growth. The investments of the firms in the UK and the government spending of the UK government related to the Olympics have brought important benefits to the consumers. The consumption (Consumption is the total spending by consumers on domestic goods and services) in the UK have increased and this have produced an economic growth in the country. Also we can't forget that it have brought other benefits like tourists, fame, sponsors, new companies, new stadiums...

This article talks about the relationship between the success of a country at the olympics and its Human Development Index. The countries that had a higher HDI won more medals than countries with low Human Development Index. Nevertheless, Ethiopia hasn't followed the trend. With HDI equal to 0.33, Ethiopia came 29th in the end of the games. It is not surprising that there is a relationship between HDI and number of medals. In developing countries sports are often not as popular as in developed countries. In the US students are encouraged to develop both educational and extra-curricular skills. While on the other hand, in lots of developing countries education is the only aspect that values.

House prices in the UK have fallen for the third month in a row. Although the government has supported in mortgage borrowing, but the consumer's uncertainty surrounding the economy and their ability to afford the houses still causes the decrease in price in the market. The increase in demand is believed to be driven by seasonal factors compounded by the Olympics. It is believed that the house prices will continue to decrease slowly over the remainder of the year. There is also the first decline in supply in September after seven months of growth. I think this article fits perfectly under the topic of demand. The basic law states that as price falls, the quantity demanded of the product will usually increase. However, this does not fall under the basic law behind the demand curve, but it indicates that price of houses have fallen as a result of an increase in demand. The Europe's economy isn't doing very well at the moment and it causes more hesitant in how they consumers choose to spend their money. Price may be low, but they may choose to spend their money elsewhere. This does, however, support the supply law. As price falls, the quantity supplied is dropped. Suppliers wouldn't want to produce or supply to any products that isn't very well demanded.