Economic Impact of Hurricane Sandy

http://www.dailyfinance.com/2012/10/30/economic-impact-from-hurricane-sandy-wont-derail-economy/

 

Here is a link that discusses the impact that Hurricane Sandy will have on the economy. It goes on to explain that it will effect transportation companies, mainly speaking of aircraft carriers. Over the past few days over 14,000 flights have been cancelled. Many companies are losing money due to this and the need to rearanged crews and remburse ticket costs and satisfy the needs of customers. The article also goes on to explain how retailers will be loosing billions due to the damage there stores may have experienced and the lack of sales and ability to import and export goods.

1 Comment »

  1. Isabel B Said,

    November 2, 2012 @ 3:13 pm

    One part of this article that relates to what we discussed in class is the section on retailers. The article says that sellers of non-essential goods are expected to suffer the most. Consumers will spend most of their money on essential things like food and water, and because of damage from the storm, the prices of these goods will rise, leaving consumers less money to spend on non-essential items. The elasticity of essential items is less than that of non-essential items.

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