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The government wants to implement a one dollar raise in taxes on cigarettes, in order to ward consumers off them. The government is doing so to warn how dangerous and harmful cigarettes are.They want to discourage children and teens from smoking. Another reason for the tax raise of $1.98 is to help pay the state's rising cots for health care for the poor. There was a $2.7 billion shortage in the Medicaid funding, which needs to be recovered through collecting taxes. As cigarettes are quite inelastic, people will continue to buy them even if the price increases, as they are an addictive good and cannot be put down easily. Substitutes would not be an option in this case, as there is a tax added on other tobacco products as well.

This is an article on the demand of sugar. As the International Sugar Organization has stated, that there is a deficit of 15 million tons in the production. It is stating: "Stocks are currently so low, says the ISO, that even next year's harvest is unlikely to restore reserves to a healthy level." This could make people nervous and push them to buying a big amount of the product now. Since the product might become scare in the future, the prices would rise and therefore people would buy a surplus of the product at the current price. The principal of  expectations of the future price would be touched.

Changes in equilibrium: Since the expectation of the future price principle is addressed, the demand curve shifts to the right. Therefore there is a higher demand for sugar, due to the fact that sugar is becoming more scarce. As a result of that, the producers have an incentive to produce more and raise the price, as they realize that the demand has increased. Consumers may then substitute or ration, as the price has increased and they might not be willing or able to buy sugar at this price. As a result of the points above, there would be more resources used to produce sugar even though it is becoming more scarce.

The article talks about future trends in demand and consumption of food in the future. The graphs portrayed in the article, show the estimated increase in food demanded over the next 10-15 years. This has to do with the fact that the population is continuing to grow significantly in the near future. The problem with this is that while more food is needed, many countries have little room for improvements. This will make them rely heavily on imports in the future as they are not able to feed their growing population. The biggest problem is that if the food production is not increased significantly over the next years, there might be a global shortage of food. 

The example of food is very relevant when talking about this topic. As the worlds population, the food becomes more scarce, the demand rises. This causees the price of food to increase. Usually, this would cause many people to allocate their resources towards the food production. Currently however, despite rising prices of food, it is still more profitable to produce something else. This causes the food production to be lacking of food, which causes the price to rise even more.

The article Chicago's cigarette tax could approach New York's (by Megan Hickey) focused on the possibility of Chicago increasing taxes on cigarettes. There are several underlying reasons for the proposal; one being a $298 million budget shortage, the other to increase awareness of smoking for health purposes. Chicago already has the second highest tax on cigarettes in the US, the average cost for a pack being $10.25, after New York at $12.50. The total combined tax amount is $5.67 which is made up of a federal tax of $1.01, Cook County tax of $2, Illinois tax of $1.98 and a government tax of $0.68. The possibility of increasing this tax would lead to less consumption of the product, less revenue for tobacco companies and more deadweight loss for consumers and producers. However the Chicagoan government believes that the health benefits gained from less tobacco consumption are far greater than that of cost. To continue this tax hike (continued increase in the tax of cigarettes) would continue the trend of declining tobacco consumption and could decrease the youth in smoking by 7.2%. Not only would the state receive health benefits but the government would be able to increase their revenue through this tax hike.

After the United States supported Israel in the "Yom Kippur" war, the Arab members of OPEC (Organization of Petrol Exporting Countries) announced an oil embargo with the US, where they would charge 70% more. In 1973, at the time of this restriction of oil, the OPEC was globally known as a large oil producer. This caused a shortage of oil, thus shifting the "supply curve" to the left, while the demand curve stayed constant. With this low supply, and constant demand, oil became a scarce good. In order to reach market clearance, or equilibrium, prices increased drastically. From $3 per barrel in 1971, to almost $40 per barrel in 1980. The shift in oil supply resulted in an increase in transportation costs. In order to compensate for the high oil prices, the Government of the United States increased domestic prices, thus increasing inflation. This inflation eventually led to relatively lower oil prices.

The article written by Peter Woodman addresses the problem of the decreased supply of aviation fuel during a short period of time in June 2012. The Manchester airport gets its fuel from the near Port on Merseyside. There was an interruption in the supply of the fuel which caused the airline to send out precautions to the passengers - their flights might be cancelled or delayed. Since the airport uses over three million liters of aviation of fuel per day, this shortage of supply created temporary problems for the airport. In other words, there was a problem because the demand of aviation fuel was high but the supply of fuel was low which caused the Manchester airport to think of alternatives for their passengers and flights. This supply issue falls under the category of a "shock" - an unexpected event that occurs that causes the decrease supply of a particular good.