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This article basically discusses how a raise in minumum wage would affect restaurants, spcially fast food restaurants such as McDonalds. As President Barack Obama propeses to raise the minumum wage to 10$ many fast food companies disaggree him saying that their customers are price sensitive and this increase in their cost would haveto reflect onto customers which would drive them away. However data says otherwise. The article indicates that the prices of fast foods are ectually inelastic and therefore an increase in price although would mean less customer it doesn't necesserily mean less revenue

I think this article is a very good choice as it shows the effect the elasticity can have in real life situations. I think in this situation we also have to appreciate the recognition that the company Mcdonald's has ;this could influence elasticity being inelastic. As Mcdonalds is a very popular ,globally known fast food restaurant they may find that a small increase in price will only affect their demand in a small way. So like you said it doesn't necessarily mean less revenue. Jack

This article concerns the climate change and what it could cause for the country, which includes water and food shortages. These are affected by the climate damaging the crop production. This is relevant with this week's topic because the supply of agricultural food is decreasing, therefore causing the prices to rise. This rise in price therefore helps the allocation of the food, which is a serious impact on the country.

In his article, Roberto De Vogli, discusses how obesity is a kind of market failure. Aapart from the comon view that obesity is "an effect of specific individual and lifestyle choices," Roberto De Voglie argues that "the problem is largely a byproduct of deeper political and economic changes in society.". Apart from discussing the reasons for this failure, he propeses a solutions. He says an ulta-processed food tax" must be introduced on fast foods and the revenue coming from this tax must be used as a subsidy fruits, vegetables and healhty foods.

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 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 argues that consumption of fast foods and other unhealthy foods is harmful to the society in general, providing reasons why it is a negative externality.

TOKYO -- Thanks to the efforts of strawberry growers, scallop catchers and others to promote their wares overseas, Japanese exports of fresh food have grown by leaps and bounds, especially in Asia. Japan's January-July exports of farm produce jumped 40% from the year-earlier period to around 18 billion yen ($148 million), according to the agriculture ministry.

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.

The USDA is investing in farms to increase production of organic and local goods. This article relates to demand and scarcity seeing as organic and local goods are something that a lot of people want but not many can regularly get because of low production and high prices.

Government imposed carbon taxes in Australia, in order to prevent the climate change. This will have the major influence on manufacturing and other business in Australia, especially the tourism. It is estimated the carbon taxes will "add $115 million a year to the bottom line costs of hotels and motels", due to the increase in additional costs such as energy bills, food, transport, linen and other expenses. The demand for the tourism in Australia will thus greatly decrease, as the expeneses will increase as well due to the large taxes imposed on the carbon "also Australia's carbon tax places tremendous pressure on Australian manufacturers and inevitably leads to job losses and business closures"

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 India, bananas, apples, and grapes have been growing price. As the law of demand states, this would lower its demand. Oranges are growing in demand due to its low price. The changes in demand of fruits in India describe the relationship between demand and price.

Hey, I like your article because it really links to the Demand topic we did last week. The article is clearly describing the increase in demand of oranges because its substitutes' (apple, grape, banana, etc) experienced the increase in price due to the damage of plantations, and thus their demand had decreased as well. The price of oranges in this part of India stayed the same (Rs40 per kg ), and the price of its substitutes increased from Rs40 per kg to Rs50-60, per kg. The orange demand curve will be shifted to the right because one of the 'ceteris paribus' determinant has changed, and the apple, banana, or grape curve will experience the movement along the curve (the slope) as the price will go up and quantity will decrease. Andjela :)

Hey, I also enjoyed the article even though I wanted to share this article and got a little upset when I saw you have already come across with it. Anyways, I think this is really a good and pure example of the law of demand as you state since the damage on the substitutes of orange increased their price. But I also think that enterpreneurs should aim to supply the substitutes because I think that organic food industry is a fragile market and they should somehow balance the prices. But until then, I guess I'll be okay with oranges :) Alp