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Half the Saudi population is under 25 years of age. this poses a great opportunity to expand the economy of Saudi Arabia, with the new idea that the young workforce brings with them. At the same time it poses a threat if the government does not accomplish the task of creating enough working spaces for the large group that will enter the labor force in the next 10 years.

Half the Saudi population is under 25 years of age. this poses a great opportunity to expand the economy of Saudi Arabia, with the new idea that the young workforce brings with them. At the same time it poses a threat if the government does not accomplish the task of creating enough working spaces for the large group that will enter the labor force in the next 10 years.

This article describes the effect of price ceilings on goods in Asia. Most countries in Asia have set caps to petrol prices and only seldom raised these. Commentators argue that if price of petrol does not rise with the price of the crude oil in the world, consumers in Asia (where the price for petrol is low) will use up so much that the price of petrol will increase too much and harm the economy rather than help it. In China foods have been monitored as well. Price have a ceiling and if this is to be raise the company must seek approval of the government. This is only a temporary answer to the problem of keeping prices low.

G-7 call on oil-producing countries to increase their oil output in order to prevent high oil prices. The G-7 countries are prepared to call upon the International Energy Agency in order "to take appropriate action to ensure that the  market is fully and timely supplied." The IEA's countries supplied 60 million barrels of crude after the Libyan output was disrupted after the armed uprising. Oil prices have advanced 24 percent since reaching a 2012 low in June as stockpiles fell. U.S. authorities haven't contacted the IEA on the use of emergency oil supplies.  The U.S. has 727 million barrels of petroleum in reserve. Rising consumer prices have dented consumer confidence in gasoline, threatening to curb spending that accounts for 70 percent of the world's largest economy. The average price of a gallon of regular gasoline has increased by 23.5 cents this month. 

We see in the chart that in developing countries arms are considered a normal good. This is apparent as the number of sales is at its lowest in 2007, 2008, and 2009 - the time period of the late financial crisis. Incomes decreased and therefore also government expenditure. So since the governments had a reduced budget, they were forced to purchase fewer arms. However, once the global economy started to recover from the crisis, incomes rose again. Thus, governments were able to spend more on arms again (which we see in 2010 and 2011). This is a good example of how income, a non-price determinant of demand, can influence the demand on a good. Another non-price determinant of demand is government policy. The article states that Saudi Arabia was the developing world's biggest arms buyer in 2011, with deliveries of $2.8 billion - an unusually high number. Therefore, there must have been a change in Saudi Arabia's government policy; otherwise they would not suddenly be buying more arms. So now we see how government policy influences demand on arms. 

In this article it talks about the issues of supply of gold. Over time a lot of mines have been emptied and now there is a problem that the product will become scarce and gold prices will increase drastically. since there is not very much gold circling around different mines, there is less to be found. The problem is also that the economy is increasing, new mines are made and people have to be trained in mining and some specialized gold makers moved to these new gold mining cities. The average of needed gold in the world is estimated to increase 6% by 2016 which is a lot. A lot of the pure gold has been mined and the not so pure gold is not as profitable. 

This article covers inflation in the UK and how it has come to a point where the minimum wage is no longer high enough to cover the standard costs of living. So, politicians are now struggling to raise the minimum wage level, ithout harming the economy.

This article discussed how inflation has affected different factors in the Australian economy. It also talks about how their living standards are increasing, although the costs are increasing too.

The happy news is that the American economy is producing more jobs and the unemployment rate is continuing to fall. The less happy news is that, in the words of economist Gary Burtless, this is happening "at a heartbreakingly slow pace." This is how the article starts. According to Burtless, employer survey show that payroll have been rising about 190,000 a month, fast enough that we would expect unemployment to fall. However, the article states that it would take about 5 or 6 years to reach unemployment. Futurists envisioned a world where the wealth produced by an economy required few laborers. The truth is that in the plant today, the rich are richer and everyone else is living with less.

The article is mainly based upon factual basis in regard to the unemployment in Greece. Unemployment has risen to 27.3% in Greece as a reaction to the horrible state of the economy. The economically non-active, people who are not actively looking for a job, rose to over 3.2 million. The total number of unemployed rose by 16.3%.

Gold Demand falls (16. Aug 2012)

This article shows the fact that the demand for gold dropped. The global demand fell by 7 pc within three months up until the end of June. The World Gold Council stated that this is due to economies facing challenges as well as extremely high sales last year. The analysis also says that this is due to taxation on gold (mainly jewelry) in India. Luckily India is only one of many in the gold market, therefore It did not affect the demand too much. This relates to our discussion in class by addressing the fact of the demand curve moving to the left (the demand is decreasing). India's demand of gold may have dropped due to the new taxation has supply is limited.

The price of maize has risen this year due to lower yields which will reduce this year's crops to less than what was originally expected.. The problem being created, is that this year's food price index of maize is above of what it has been at the same point during the years 2008 and 2011. Now it is feared that the same thing might happen to America's soya bean harvest, and with this it would have a huge impact on livestock farmers, which are already starting to have trouble with their harvests. The worry is now that, just like maize, the soya beans will become higher priced and with this less people would be able to afford it. But not only would it affect the soya beans, that would simply be the beginning; next would be the meat and then a wider food-price problem could be underway. Therefore, society is worried that this wave of pricing food higher than other years due to worst crops might not only affect the agricultural economy, but would expand into all of the food market, making less people be able to buy more food.

Mini Analysis: 150 words- connecting article to concepts learned in class. For almost ¼ of the world's population, the demand for water is greater than the supply available. Water is a necessity for everyone and a want for all. The prices of water are increasing, as water is becoming scarcer. For many countries such as Egypt, India, Pakistan, water is very rare and therefore has a higher price. In Switzerland for example, water is not as scarce and therefore our prices aren't as high. Although Switzerland may take water for granted, the prices are still rising, as water is running out all over the world. Primary economies are running into issues, as they are not able to harvest and produce as many crops as they were in previous years. The main problem is that there is no substitution product for water. Other drinks such as tea, sodas etc. don't count for water.

This articles talks about the decrease in demand in the coffee production. A decrease in the price of a cup of Joe, shipping coffee took a hard hit with prices to move a crate of coffee has increased to 6.8% more. The global economy has dropped due to the worsening debt crisis in Europe, where thirteen countries are slowly collapsing. European countries are unable to afford coffee, which is why British drinkers had to cut back in the coffee consumption by 6.7% in 2011, while the demand fell in 2.6% in Spain and 1.6% in Italy. Brazilian coffee production have expanded field for production and increased the use of fertilizers in response to last year's high prices. The Brazilian farmers are holding off from selling the product due to that they are waiting for the prices to recover so that sell larger quantity of coffee.

The demand of coffee is decreasing due to that the import prices have increase to 6.8%. The coffee market has decreased because the prices of the good have increased. The overall demand for coffee has decreased because producers now face higher cost of production. Since the expense of coffee has increase consumer incentives decrease. Since the demand of coffee has decreased other markets like tea, energy drinks have increased because demand for substitute goods increased. Producers want to minimize production cost while maximizing profit.

In this nes article it talks about the great problem that Spain is facing in the recession regarding unemployment. They do mention that even though unemployment has dropped from 27.2% to 26.3%.through this we can see that maybe some figures with regard to unemployment could be seasonal as the unemployment figures dropped during strong tourist season. Neverhteless most of the people without jobs have been unemployed for over a year which means that a lot of this unemployment is cyclic, which we can see as spain is in the middle of a terrible recession. Even though the Spanish economy is starting to experience slight profit and growth, they do experience long term issues in regard to the high youth unemployment that is at 56%.

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