Group items tagged minimum - IBEconomics

17More

BBC News - Scottish minimum alcohol pricing passed by parliament - 1 views

www.bbc.co.uk/...and-scotland-politics-18160832

shared by Arla Takala on 07 Jun 12 - No Cached

Scottish minimum alcohol pricing passed by parliament
- Arla Takala on 07 Jun 12
  
  Microeconomics - Minimum price on alcohol in Scotland
  
  <div class="cArrow"> </div><div class="cContentInner">Microeconomics - Minimum price on alcohol in Scotland</div>
  
  ...
  
  Cancel
...

Cancel
minimum drink pricing
- Arla Takala on 07 Jun 12
  
  Minimum price = legally imposed price floor below which that normal market price cannot fall
  
  <div class="cArrow"> </div><div class="cContentInner">Minimum price = legally imposed price floor below which that normal market price cannot fall</div>
  
  ...
  
  Cancel
...

Cancel
Under the plans, the cheapest bottle of wine would be £4.69 and a four-pack of lager would cost at least £3.52.
- Arla Takala on 07 Jun 12
  
  Consumers pay a higher price for same product
  
  <div class="cArrow"> </div><div class="cContentInner">Consumers pay a higher price for same product</div>
  
  ...
  
  Cancel
...

Cancel
...5 more annotations...
Scottish Health Secretary Nicola Sturgeon said that, as drink had become cheaper, alcohol-related hospital admissions had quadrupled and half of prisoners said they were drunk when they committed offences.
- Arla Takala on 07 Jun 12
  
  The government imposed a minimum price to reduce the amount of crime and injuries caused by alcohol
  
  <div class="cArrow"> </div><div class="cContentInner">The government imposed a minimum price to reduce the amount of crime and injuries caused by alcohol</div>
  
  ...
  
  Cancel
...

Cancel
alcohol
- Arla Takala on 07 Jun 12
  
  Alcohol is a demerit good (over consumed or over produced) and has negative effects on society
  
  <div class="cArrow"> </div><div class="cContentInner">Alcohol is a demerit good (over consumed or over produced) and has negative effects on society</div>
  
  ...
  
  Cancel
...

Cancel
Labour said minimum pricing could generate profits of more than £125m for alcohol retailers
- Arla Takala on 07 Jun 12
  
  Increase in profit for alcohol retailers due to an increase in price of alcohol
  
  <div class="cArrow"> </div><div class="cContentInner">Increase in profit for alcohol retailers due to an increase in price of alcohol</div>
  
  ...
  
  Cancel
...

Cancel
A study into a 50p minimum alcohol price by Sheffield University said the policy would see a 5.5% cut in drinking - with harmful drinkers' consumption falling by more than 10%, compared with a 2.5% fall for moderate drinkers.
- Arla Takala on 07 Jun 12
  
  The increase in price of alcohol would cause a reduction in demand
  
  <div class="cArrow"> </div><div class="cContentInner">The increase in price of alcohol would cause a reduction in demand</div>
  
  ...
  
  Cancel
...

Cancel
- Arla Takala on 07 Jun 12
  
  Minimum price causes a surplus in the market because supply exceeds demand
  
  <div class="cArrow"> </div><div class="cContentInner">Minimum price causes a surplus in the market because supply exceeds demand</div>
  
  ...
  
  Cancel
- Arla Takala on 07 Jun 12
  
  This causes a reduction in market size
  
  <div class="cArrow"> </div><div class="cContentInner">This causes a reduction in market size </div>
  
  ...
  
  Cancel
- Arla Takala on 07 Jun 12
  
  This may cause informal markets since some firms may sell their surplus at prices below the equilibrium however this is illegal
  
  <div class="cArrow"> </div><div class="cContentInner">This may cause informal markets since some firms may sell their surplus at prices below the equilibrium however this is illegal</div>
  
  ...
  
  Cancel
...

Cancel

12More

Brazilian Coffee Minimum Price Raised 17% to Aid Farmers - Bloomberg - 2 views

www.bloomberg.com/...-raised-17-to-aid-farmers.html

shared by Marika Shimomura on 31 May 13 - No Cached

Brazilian coffee producers will harvest between 47 million bags and 50.2 million this year, approaching last year’s record 50.8 million bags, the government said in January.
- Marika Shimomura on 31 May 13
  
  Excess supply leading to the prices declining
  
  <div class="cArrow"> </div><div class="cContentInner">Excess supply leading to the prices declining</div>
  
  ...
  
  Cancel
...

Cancel
such as auctions or measures to compensate sales below minimum price
- Marika Shimomura on 31 May 13
  
  Government intervention
  
  <div class="cArrow"> </div><div class="cContentInner">Government intervention</div>
  
  ...
  
  Cancel
...

Cancel
minimum domestic price
- Marika Shimomura on 31 May 13
  
  Minimum price
  
  <div class="cArrow"> </div><div class="cContentInner">Minimum price</div>
  
  ...
  
  Cancel
...

Cancel
...4 more annotations...
international prices
- Marika Shimomura on 31 May 13
  
  Decrease in demand leading in decrease in international prices
  
  <div class="cArrow"> </div><div class="cContentInner">Decrease in demand leading in decrease in international prices</div>
  
  ...
  
  Cancel
...

Cancel
307 reais ($153) per 60-kilogram (132- pound) bag, from 261.69 reais
...

Cancel
Brazil reaped a record crop in 2012
- Marika Shimomura on 31 May 13
  
  Increase in supply
  
  <div class="cArrow"> </div><div class="cContentInner">Increase in supply</div>
  
  ...
  
  Cancel
...

Cancel
increase
...

Cancel

4More

8 States to Raise Minimum Wage - NYTimes.com - 1 views

www.nytimes.com/...tes-to-raise-minimum-wage.html

shared by Zhoushu Ziporyn on 07 Jun 12 - No Cached

- Zhoushu Ziporyn on 07 Jun 12
  
  wages go up, but supply of labor does not change. This causes an excess supply of labor-- unemployment.
  
  <div class="cArrow"> </div><div class="cContentInner">wages go up, but supply of labor does not change. This causes an excess supply of labor-- unemployment.</div>
  
  ...
  
  Cancel
...

Cancel
- Zhoushu Ziporyn on 07 Jun 12
  
  wages go up, but supply of labor does not change. This causes an excess supply of labor-- unemployment.
  
  <div class="cArrow"> </div><div class="cContentInner">wages go up, but supply of labor does not change. This causes an excess supply of labor-- unemployment.</div>
  
  ...
  
  Cancel
...

Cancel
- Zhoushu Ziporyn on 07 Jun 12
  
  although more money would be payed, it would not be enough to support the poor and total unemployment will increase since there is a gap between the equilibrium point with the higher wage price level and the equilibrium with the demand curve.
  
  <div class="cArrow"> </div><div class="cContentInner">although more money would be payed, it would not be enough to support the poor and total unemployment will increase since there is a gap between the equilibrium point with the higher wage price level and the equilibrium with the demand curve.</div>
  
  ...
  
  Cancel
...

Cancel

Zhoushu Ziporyn on 07 Jun 12

"The minimum wage increases in Arizona, Colorado, Florida, Montana, Ohio, Oregon, Vermont and Washington will be 28 cents to 37 cents an hour, according to the National Employment Law Project." minimum wage, the minimum price for labor, has gone up in 8 states

<div class="cArrow"> </div><div class="cContentInner">"The minimum wage increases in Arizona, Colorado, Florida, Montana, Ohio, Oregon, Vermont and Washington will be 28 cents to 37 cents an hour, according to the National Employment Law Project." minimum wage, the minimum price for labor, has gone up in 8 states</div>

...

Cancel

15More

BBC News - Energy committee attacks UK carbon price - 0 views

www.bbc.co.uk/...business-16728207

shared by Shoko Kuroda on 09 Jun 12 - No Cached

- Shoko Kuroda on 09 Jun 12
  
  Minimum price, therefore it is micro economics
  
  <div class="cArrow"> </div><div class="cContentInner">Minimum price, therefore it is micro economics </div>
  
  ...
  
  Cancel
...

Cancel
higher carbon options more expensive.
...

Cancel
developing a low carbon economy
...

Cancel
...12 more annotations...
reducing uncertainty and creating incentives for investment in low carbon electricity generation now, so we have lower emissions in the future,
...

Cancel
put aside money
...

Cancel
The governmen
...

Cancel
£250m package of support."
...

Cancel
The government expects to raise £1.4bn
...

Cancel
However the recession has significantly reduced industrial output - and so demand for credits to cover industrial emissions has also fallen.
...

Cancel
If the actual price is below the floor, companies must pay the difference to the Treasury.
...

Cancel
The extra cost will be passed on to consumers, it warns.
...

Cancel
- Shoko Kuroda on 09 Jun 12
  
  If Carbon becomes more expensive, this reduces the number of firms which still can afford the price and therefore leads to reducing the amount of Carbon.
  
  <div class="cArrow"> </div><div class="cContentInner">If Carbon becomes more expensive, this reduces the number of firms which still can afford the price and therefore leads to reducing the amount of Carbon. </div>
  
  ...
  
  Cancel
...

Cancel
- Shoko Kuroda on 09 Jun 12
  
  Recession, the business cycle suggested by Keynes can be introduced with a digram and explanation.
  
  <div class="cArrow"> </div><div class="cContentInner">Recession, the business cycle suggested by Keynes can be introduced with a digram and explanation. </div>
  
  ...
  
  Cancel
...

Cancel
- Shoko Kuroda on 09 Jun 12
  
  A diagram representing the impact of minimum price should be drawn and explained. Consumer burden needs to be explained as well.
  
  <div class="cArrow"> </div><div class="cContentInner">A diagram representing the impact of minimum price should be drawn and explained. Consumer burden needs to be explained as well. </div>
  
  ...
  
  Cancel
...

Cancel
- Shoko Kuroda on 09 Jun 12
  
  This can be explained to support why when an economy is in recession, it has a similar impact as minimum price has. In addition, this also has a negative affect on the government who has the benefit of minimum price since then they are able to collect the money. Therefore this reduces the intention of the government to set a minimum price since they would have less benefit when the economy is in a recession.
  
  <div class="cArrow"> </div><div class="cContentInner">This can be explained to support why when an economy is in recession, it has a similar impact as minimum price has. In addition, this also has a negative affect on the government who has the benefit of minimum price since then they are able to collect the money. Therefore this reduces the intention of the government to set a minimum price since they would have less benefit when the economy is in a recession. </div>
  
  ...
  
  Cancel
...

Cancel

1More

Commentary: Minimum Wage Boost Aids Consumers and Retailers - The Jakarta Globe - 0 views

www.thejakartaglobe.com/...aids-consumers-and-retailers-2 minimum wage

shared by grace turner on 31 May 13 - No Cached

1More

Kenyan MPs defy president, hike pay to 130 times minimum wage | Reuters - 1 views

www.reuters.com/...a-reform-idUSBRE94R0MW20130528 reuters

shared by Mattias Lindell on 31 May 13 - No Cached

5More

Minimum alcohol price in Scotland to be set at 50p a unit | Society | The Guardian - 4 views

www.guardian.co.uk/...mum-alcohol-price-scotland-50p

shared by Christina Seward on 06 Jun 12 - No Cached

- Christina Seward on 06 Jun 12
  
  first IA
  
  <div class="cArrow"> </div><div class="cContentInner">first IA</div>
  
  ...
  
  Cancel
...

Cancel
After resisting it for four years, Scottish Labour is also preparing to support the policy if Alex Salmond's government presses on with plans for a £130m "health levy" on supermarkets to claw back the £125m increase in their revenues from a 50p minimum price.
...

Cancel
said in January that inflation and a drop in alcohol misuse meant only a 50p cost would have a significant impact now.
...

Cancel
...2 more annotations...
60 lives in the first year, and 318 a year within a decade. It would most directly affect alcoholics,
...

Cancel
extra £120 a year.
...

Cancel

13More

BBC News - London 2012: Olympic VIP tickets still to sell - 1 views

www.bbc.co.uk/uk-18073585 Micro Economics Demand & Supply Maximum Price

shared by Arla Takala on 08 Jun 12 - No Cached

- Shani Juds on 08 Jun 12
  
  decrease in demand
  
  <div class="cArrow"> </div><div class="cContentInner">decrease in demand</div>
  
  ...
  
  Cancel
...

Cancel
- Shani Juds on 08 Jun 12
  
  lack of interest
  
  <div class="cArrow"> </div><div class="cContentInner">lack of interest</div>
  
  ...
  
  Cancel
- Arla Takala on 08 Jun 12
  
  isnt it because the tickets are too expensive?
  
  <div class="cArrow"> </div><div class="cContentInner">isnt it because the tickets are too expensive? </div>
  
  ...
  
  Cancel
...

Cancel
- Shani Juds on 08 Jun 12
  
  not everyone is willing and able - mainly able
  
  <div class="cArrow"> </div><div class="cContentInner">not everyone is willing and able - mainly able</div>
  
  ...
  
  Cancel
...

Cancel
...9 more annotations...
- Shani Juds on 08 Jun 12
  
  minimum price
  
  <div class="cArrow"> </div><div class="cContentInner">minimum price</div>
  
  ...
  
  Cancel
...

Cancel
unsold.
...

Cancel
- Shani Juds on 08 Jun 12
  
  maximum price - excess supply
  
  <div class="cArrow"> </div><div class="cContentInner">maximum price - excess supply</div>
  
  ...
  
  Cancel
...

Cancel
- Shani Juds on 08 Jun 12
  
  lowering maximum price
  
  <div class="cArrow"> </div><div class="cContentInner">lowering maximum price</div>
  
  ...
  
  Cancel
...

Cancel
Prestige Ticketing.
...

Cancel
While many sports fans have struggled
...

Cancel
The minimum price for that evening of athletics, with fine dining included, is £4,500.
...

Cancel
minimum
...

Cancel
With the start of London 2012 now little more than two months away, Prestige Ticketing has decided to change its sales strategy in order to try to offload the remaining supply.
...

Cancel

1More

Scotland sets minimum prices for alcohol to curtail country's health problems - HealthP... - 1 views

www.cbsnews.com/...rtail-countrys-health-problems

shared by Erica Nozawa on 18 Jun 12 - No Cached

Minimum wages: Do we need them? | Business Line - 1 views

www.thehindubusinessline.com/...article4692918.ece reuters

shared by Mattias Lindell on 31 May 13 - No Cached

U.K. to Tackle Binge Drinking With Minimum Alcohol Price - Bloomberg - 1 views

www.bloomberg.com/...ith-minimum-alcohol-price.html

shared by Yuki Nitta on 31 May 13 - No Cached

9More

Russian Smoking Ban Takes Effect Amid Dispute Over Higher Taxes - Bloomberg - 1 views

www.bloomberg.com/...dispute-over-higher-taxes.html

shared by samuel_chan on 06 Jun 13 - No Cached

The Health Ministry proposed raising the tax
- samuel_chan on 06 Jun 13
  
  Further shift of the supply curve to the left
  
  <div class="cArrow"> </div><div class="cContentInner">Further shift of the supply curve to the left</div>
  
  ...
  
  Cancel
...

Cancel
minimum prices for cigarettes
- samuel_chan on 06 Jun 13
  
  Increase in price causing excess supply and a shift to the left for the supply curve
  
  <div class="cArrow"> </div><div class="cContentInner">Increase in price causing excess supply and a shift to the left for the supply curve</div>
  
  ...
  
  Cancel
...

Cancel
Russian Smoking Ban Takes Effect Amid Dispute Over Higher Taxes
- samuel_chan on 06 Jun 13
  
  Increase on sales tax for cigarettes and new minimum price
  
  <div class="cArrow"> </div><div class="cContentInner">Increase on sales tax for cigarettes and new minimum price</div>
  
  ...
  
  Cancel
...

Cancel
...2 more annotations...
doubts as to the effectiveness of some of the measures.”
- samuel_chan on 06 Jun 13
  
  As smocking is addictive it is a Inelastic good so there may be very little change
  
  <div class="cArrow"> </div><div class="cContentInner">As smocking is addictive it is a Inelastic good so there may be very little change</div>
  
  ...
  
  Cancel
...

Cancel
higher tobacco taxes
...

Cancel

Scotland introduces minimum alcohol price - 0 views

www.nursinginpractice.com/...troduces-minimum-alcohol-price

shared by Claire Ramsey on 05 Jun 13 - No Cached

Economists Say Raising The Minimum Wage Is Worth It: Poll - 0 views

www.huffingtonpost.com/...ts-minimum-wage_n_2782488.html

shared by Eva Janssen on 05 Jun 13 - No Cached

1More

What Economists Think About Raising the Minimum Wage - NYTimes.com - 0 views

economix.blogs.nytimes.com/...about-raising-the-minimum-wage

shared by Eva Janssen on 05 Jun 13 - No Cached

10More

allAfrica.com: Zambia: Govt Unveils Maize Floor Price - 5 views

allafrica.com/...201205310383.html

shared by Katie Miyoshi on 31 May 12 - No Cached

- Katie Miyoshi on 31 May 12
  
  A minimum price has been set for maize at 1,300,000 Zambia kwacha ($244.40 US dollars) for 1,000 kg. A micro: minimum diagram can be made.
  
  <div class="cArrow"> </div><div class="cContentInner">A minimum price has been set for maize at 1,300,000 Zambia kwacha ($244.40 US dollars) for 1,000 kg. A micro: minimum diagram can be made.</div>
  
  ...
  
  Cancel
...

Cancel
- Katie Miyoshi on 31 May 12
  
  Maize is a good, which has many complimentary goods, because it is a staple food in many recipes. This can be shown in a cross price elasticity diagram.
  
  <div class="cArrow"> </div><div class="cContentInner">Maize is a good, which has many complimentary goods, because it is a staple food in many recipes. This can be shown in a cross price elasticity diagram.</div>
  
  ...
  
  Cancel
- Kat Whatley on 01 Jun 12
  
  It is also a substitute good. Though carbs of some kind are a necessity, people could by wheat or rice or millet instead. You could consider looking at prices of substitute goods.
  
  <div class="cArrow"> </div><div class="cContentInner">It is also a substitute good. Though carbs of some kind are a necessity, people could by wheat or rice or millet instead. You could consider looking at prices of substitute goods.</div>
  
  ...
  
  Cancel
...

Cancel
- Katie Miyoshi on 31 May 12
  
  There is high demand for maize, so this good is inelastic and therefore it is smart to place a floor price on this good, since price will increase with little change to the demand.
  
  <div class="cArrow"> </div><div class="cContentInner">There is high demand for maize, so this good is inelastic and therefore it is smart to place a floor price on this good, since price will increase with little change to the demand.</div>
  
  ...
  
  Cancel
- Kat Whatley on 01 Jun 12
  
  This is also a subsidy. You could draw a subsidy micoeconomics graph for this.
  
  <div class="cArrow"> </div><div class="cContentInner">This is also a subsidy. You could draw a subsidy micoeconomics graph for this.</div>
  
  ...
  
  Cancel
...

Cancel
...4 more annotations...
- Katie Miyoshi on 31 May 12
  
  By setting a price floor, maize prices will increase so that the good is more valued and this will lead to less wasting and more available supply in the long-run.
  
  <div class="cArrow"> </div><div class="cContentInner">By setting a price floor, maize prices will increase so that the good is more valued and this will lead to less wasting and more available supply in the long-run.</div>
  
  ...
  
  Cancel
...

Cancel
- Katie Miyoshi on 31 May 12
  
  Government is investing in infrastructure to reduce the maize thefts and this is an example of supply-side policy. A diagram can be made here.
  
  <div class="cArrow"> </div><div class="cContentInner">Government is investing in infrastructure to reduce the maize thefts and this is an example of supply-side policy. A diagram can be made here.</div>
  
  ...
  
  Cancel
- Kat Whatley on 01 Jun 12
  
  This will also lower prices and may stop the rise of maize costs as less wastage will occur.
  
  <div class="cArrow"> </div><div class="cContentInner">This will also lower prices and may stop the rise of maize costs as less wastage will occur.</div>
  
  ...
  
  Cancel
...

Cancel
- Katie Miyoshi on 31 May 12
  
  Perhaps, increasing the maize prices will make up for the loss in revenue from the stolen maize.
  
  <div class="cArrow"> </div><div class="cContentInner">Perhaps, increasing the maize prices will make up for the loss in revenue from the stolen maize.</div>
  
  ...
  
  Cancel
...

Cancel
- Katie Miyoshi on 06 Jun 12
  
  This is my ECON IA for MICRO
  
  <div class="cArrow"> </div><div class="cContentInner">This is my ECON IA for MICRO</div>
  
  ...
  
  Cancel
...

Cancel