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Home/ ZIS IB Year 2 2013-14/ Contents contributed and discussions participated by Nikolas Litzenberger

Contents contributed and discussions participated by Nikolas Litzenberger

Nikolas Litzenberger

Food Prices and Supply - 0 views

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    This article describes trends in supply of food. In summer 2012, being much hotter than usual and causing the biggest drought in half a century, are causing rises in prices. Groceries such as milk, beef, chicken and pork are expected to rise in price due to the record-breaking weather. Crops, such as corn, of which 88 percent were affected, are to go through major change. General increase of food goods will cause a shift of the curve to the left.
Nikolas Litzenberger

Summer Movies 2012: 100 Million Fewer Tickets Sold Compared to 10 Years Ago - 0 views

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    The summer movie season reached a low with fewest movie tickets sold since 1997. Despite major hit movies such as "The Avengers" and "The Dark Knight Rises", the coming summer is supposed to fare even worse. By the end of Labor Day weekend, an estimated 529 million movie tickets will have been sold in the United States, almost 100 million fewer tickets than a decade ago, when 629 were sold. Partially due to increasing movie ticket price, movie ticket revenues dropped by 4.5%. Despite the increase in price affects the attendance to movies, analysts suggest that increasing the prices is the solution for struggling movie businesses. The movie business must be on the right track again, already having higher revenues and attendance than by this time last year.
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    The consumer preferences have changed with the slight rise in prices, causing a decrease in demand. The decrease in demand demonstrates that the consumers are losing incentive to buy as many movie tickets and causes a shift of the equilibrium price. As a result, consumers have incentive to ration their spending on cinema tickets. The producers begin to produce less at higher prices and create a rise in allocation of resources to movie-making to increase demand for movie tickets.
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