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This article talks about how the PED for different food types varies in the country Australia. The Rural industries research and development in Australia reveals that foods such as Milk, bread, fresh fruit and fresh vegetables have an inelastic demand. This therefore meaning consumers will continue to buy these products even when there is an increase in price. In this case the value of PED would be 1 Research and Development also showed that PED for meat products was more elastic in Australia than in other countries. As a result meaning, consumers in other countries will be more willing to absorb an increase in price.

This article talks about the price control put on fruits in Egypt to ensure that consumers can consume fruits at low enough price.

This article is about the price control on vegetables in Egypt. Apparently vegetable prices increased ver much recently in Egypt, therefore government has decided to put a price ceiling to these goods, to keep consumer expenses down. THe article talks about another time such a control has taken place, but it says those times (1970s)fruit and vegetables often disappeared from the marketplace into the black market so the government had to moce the price control on1980. The rationale behing this control is explaine as following in the article "The ministry said it would also work to lower prices by increasing the amounts of produce available in state-run cooperatives and ministry of agriculture outlets and by sending lorries to deliver fruit and vegetables to poorer neighborhoods." PS: Sorry for the late upload...

Here is an example of a market failure. The pharmaceutical drug is being sold at a price too high for consumers. The Canadian government plans to impose a price ceiling on the good.

Coca Cola is soon to release a new line of milk. The lactose free milk will contain half the sugar of regular milk, 50% more protein and 30% more calcium. Studies have shown consumers are looking to add more protein into their diets, prompting the companies decision. The premium milk will cost twice that of other milk brands.

Raising UK living standards depends on raising productivity, but how? In this article a lot is discussed about the issues of business cycles

I think when relating this article to this business cycle it would be fair for one to say that the UK economy is on the 'recovery' section on the business cycle yet some still argue that the productivity is still not at a high enough rate. People must remember that wadges have only been increase for a short while so therefor consumer confidence may not be at its peak. However what I do think is concerning is the fact that the current interest rate in the uk is 0.5% meaning borrowing is cheaper and there will be less investing money in banks, meaning consumers should feel more inclined to spend yet this is something that is not happening.

This articles talks about how every EU country's economic growth production and crucial is to the Euro-zone for enhancing the continent as a whole. However, Germany which is of course, one of the EU's leading country in economic growth is now declining constantly. This is will reduce general aggregate supply in EU.

I think this article is really interesting as this is a current economic problem that could affect me as i live in the uk which is also part of the EU. A danger is that if the german economy slows then this could be damaging for the UK's net exports. We currently Germany biggest trade partner. The likelihood would be that consumer spending would lessen as consumer confidence and expectations of the german economy would decrease, consequently this could mean that Germany will import less from the UK and this potentially having consequences for the UK's AD and economy.

Prices of robusta coffee beans are up 13% in the past year because of rising global demand, especially among price-conscious consumers in emerging markets like Russia and Brazil. This article shows how price is affected by demand.

This article is about the change of coffee demands and how it affects coffee firms.

This article talks about Kirk Liefer, a soybeam, wheat and corn farmer who trades his products nationally and internationally. He is in the Illinois Agricultural Leadership Program and will travel to Japan in 2016. He has previously traveled to Brazil with the Illinois Farm Bureau's Young Leader Program to learn about global markets. In general the article suggests how International trade enhances culture and how education and travelling is important to understand and work with different nations and consumers.

This article is taken from an online newspaper, London South East. It can be deliberated in two ways. When we consider that consumer expenditure has shown an upward trend in the third quarter, we can say that agreegate demand has incresed. On the other hand, it can be seen that investments for firms increased considerably and therefore this could cause the aggregate supply to increase.

This article talks about how "India is well into a recovery phase, fast approaching growth." This has been heavily due to the rise in GDP of which 55% of it is accountable for consumer spending.

The government had imposed an excise tax to discourage teens from purchasing and consuming alcopops. However, since the demand of the alcopops was not detered as much was intended, it shows that the alcopops are relatively inelastic.

IN Kuala Lumpur the price of RON95 petrol for the month of December is likely to be reduced by four sen, and for the same period, RON97 is expected to cost RM2.46 after the government agreed to lower its price by nine sen. On Nov 21, the government announced that fuel subsidies for RON95 and diesel would be removed from Dec 1. The decrease in the fuel price will benefit the people since, if fuel subsidies lead to an increase in prices, the price of express bus tickets should also be reduced when there is a drop in oil price. Federation of Malaysian Consumer Associations vice-president Mohd Yusof Abdul Rahman said money saved from the removal of subsidies could be used to upgrade the public transport system.

The average household income is increasing which means that the demand for self-employed workers is on the rise. As the income rises, the consumers are more willing to hire self-employed workers such as lawyers or plumbers more often. This means that the labour of these personally-hired workers is a normal good because when the income rises, the demand rises as opposed to an inferior good.

This article is about the price elasticity of the gas. It states the fact that even though people are unhappy about the increasing prices, they can't change their habits of consuming the same gas supply which totally means that gas is inelastic in this case and in order for them to change their consumption patterns, there has to be an even greater increase in the gas price

With gasoline prices in the U.S. approaching an average $3 a gallon, Americans are moaning about the rising cost, but so far they are resisting big changes in their gas-guzzling ways.

This article explains how the sizes of different packaged food categories change in relation to a variation in disposable income and answers questions like: "Do all categories benefit equally from a rise in income, or do some categories decline when incomes rise as consumers trade up to more premium products?" The article suggests how snack bars and baby food the most elastic and bread and pasta the least elastic and more facts.

This article shows how oil prices in in the United States have been dropping quite drastically which is a huge plus for consumers. However, for oil producers their total revenue has also dropped which does not benefit them. The article displays price elasticity of supply because as more and more oil is being produced, the price of oil then raises. But in this case it is the opposite.

This article talks about how people are doing a 'weekly food shop' less frequently and are buying goods from many shops rather than just one. The Oligopoly market that has emerged in the food industry has meant there is far more competition between stores. This could have advantages for the consumer as more competition potentially could mean lower prices. However there could be big disadvantages for food stores as demand could go down if they cant compete well enough with other firms, hence this causing a shift in the demand curve.

This article talks about how the guardian feel that George Osborne has failed to achieve a satisfactory inflation rate. There is an inverse relationship between inflation rate and aggregate demand. If interest rates are high then there is an increase in the cost of borrowing for the consumer. As well when interest rates are there is a higher return from savings in banks.

Russia's economy is suffering from falling oil prices as oil revenue makes up about half of the state budget revenue, while the sanctions imposed by the West in response to Moscow's policy toward Ukraine have almost shut the global financial markets to Russian business. Since oil has the inelastic demands, the fall in price of it will proportionally change the quantity demanded, however if the Russian business decide that oil is not profitable business anymore, they might switch to its substitutes, or if the supply of oil significantly decreases during next few years because of the fall in price of it, the demand for oil might decrease as well and people will again consume its substitutes, such as wood or gas, in greater quantities. If low oil prices and Western sanctions persist for some time, Russia's economy and budget will have to optimize their spending, and concentrate only on profitable budgetary programs, which will not have only major consequences on Russia, but the Europe as well as Russia is one of the main oil suppliers.

This article explains how price changes affect the demand of a product, PED. In this case, customers react differently to price changes in beef depending on other factors. I think this article shows a clear picture of how the elasticity of demand is affected by consumers and their consumption of beef.