Archive forSeptember, 2013

Buying Food That’s Past Its Prime to Save the Planet

This article talks about how grocery stores sell foods that close to its “best by” date. It suggested that the demand for the nearly expired foods is very elastic. The article said the popularity of these food is growing because consumers become price conscious. So when the prices go down, many would be willing to buy food that is close to its expiration date.

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Willingness to Supply Gold

This article describes the struggle of African Barrack Gold, a gold mining company that is more reluctant to sell it’s gold as the price of gold continues to fall. With the London based company losing %60 of its value per share and gold at $1300/oz the company is losing profits. The article goes on to say that the supply of gold is diminishing because of a rising in production costs which are affecting miners profits. This article is useful in illustrating how production costs can affect producer surplus and supply curves.

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Anti-prostitution effort targets high school boys

This article is describing an effort to stop prostitution, targeted at high school boys in the Chicago area, by teaching the boys about the laws of supply and demand. The Chicago Alliance Against Sexual Exploitation taught the boys that prostitution occurs because there is a high demand for it, so therefore, people are going to supply it; but, if no one is demanding such things, no one is going to supply them. By teaching the younger generations about supply and demand in a variety of situations, they will be more likely to decrease the rates of prostitution and won’t be the people that are demanding it. Many groups across the country are reaching out to a young generation to teach them about the laws of supply and demand in sex trafficking and how they can be the solution to the problem.


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Apple Profit Rises

This article talks about how Apple profit is rising.  One major reason for this increase in profit is that Apple has been benefiting from sales in China.  Since the iPhone was introduced in China in 2009 the country has been responsible for $7.9 billion of revenue (20% of total revenue).  This introduction of a new consumer has increased the demand for apple products and has helped them continue to thrive.

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Effects of Technology on Supply and Demand Curves

This article talks about how technology impacts and changes the equilibrium price point, supply shifts, types of goods and other firms. It summarizes what we have been talking about in class really well.

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Fat tax would benefit Kiwis – study

This article is about a study that took place in New Zealand. The government put a higher tax on fattier foods in order to encourage healthier eating habits. Residents of New Zealand feel that unhealthy eating habits, especially in sugary drinks have become more prominent than tobacco use, therefore, leading them to want to make extreme decisions in order to make New Zealand healthier.

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Natural Disaster in Colorado

This article discusses the recent natural disaster in Colorado, and how is concerning to the economy. In this particular case, homeowners, business, and local governments are in the hole about $2 billion. However, this time, most of the damages will not be covered by insurance companies. Even though insurance agencies aren’t stepping up, the people affected by this tragedy are eligible for federal help. $35 million has already been given by the Department of Transportation.

Posted on behalf of SE

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Prostitution: Sex doesn’t sell

“Prostitution: Sex does sell” is an article from on how sex workers are having to lower their prices in order to stay afloat due to the poor economy. The article is good example of how when the economy is down, people cut out the expenses that aren’t necessities. This, in turn causes the producer to lower their prices in order to attract customers. This article is helpful in seeing how multiple variables affect each other in economics.

Here’s a link to the article:

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High Demand for Shiitake Mushrooms

This article is about the growing demand for Shiitake Mushrooms. This demand outstrips the supply of mushrooms, going for 16 dollars per pound. A study conducted by UCM-Cornell has found that an estimated $ 11,190 total gross in one year. This university is creating a guide to growing shiitake mushrooms in the northeast to promote farmers to start producing.

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In at the deep end: How well does Teach for America work in the schools?

This article highlights the reasons against and the reasons for the non-profit Teach for America (TFA) Organization. TFA enlists young, inexperienced college graduates to teach in lower income communities. A board member from the Minnesota’s Board of Teaching is against TFA because he believes that placing these inexperienced college graduates in inner cities to teach “marginalized students” proves to have no real impact. However, TFA believes that “principals should have the choice when looking for potential employees.” Studies have found that TFA teachers have been more effective in their teaching methods than teachers who have less than three years of experience and more than ten years of experience. Because of TFA’a popularity, there is a great demand for teachers from this program.

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