Archive for the ‘Section 2’ Category

Consumers “Taking a Breather”

April 28, 2010

Reports have announced that there have been increases and decreases in consumers’ spending. Firstly, the sales in clothing and footwear have gone down, compared to April last year. Another factor that contributed to less sales was the natural disaster of the Icelandic volcano. Because of the volcano, less people traveled, and less people bought from […]

Iraq’s Biggest Loan Yet

February 28, 2010

Iraq is going to be given a $3.6 billion loan by the International Monetary Fund (IMF), which is the biggest loan Iraq has received so far. The money is aimed at helping Iraq “rebuild its battered infrastructure”. Iraq’s  income heavily relies on the revenue from oil. Iraq also needs the loans to rebuild after years […]

Externalities at a Festival

February 17, 2010

In India, there were people boarding a ferry to go to an island. This week there is a major holiday for the Hindu religion, and these people were going to the  Gangasagar island to take “holy dips”. Everything seemed fine, that is, until the stampede occured. This is where the externality comes in. There was […]

Powerpoint Reflection

February 10, 2010

I think my group did a good job overwell. However, there were some problems that we had. First, we should have practiced more. We were all prepared, but individually, not as a group. Secondly, some of our important graphs didn’t show up. But we got some quick recoveries. I thought that our presentation would come […]

Price Discrimination

February 7, 2010

Price discrimination is when a firm sells the same product at different prices for different people. An example of price discrimination is financial aid. In college, some students who would not be able to pay for college get financial aid. The price they have to pay is much lower than the students who don’t have […]

Commentary Reflection

January 8, 2010

On this commentary, I think that I didn’t do as well as I could have done. Firstly, I made some simple mistakes on my graphs that I could have avoided. These silly mistakes cost me some points. On everything else I did better. In some places I needed to include more detail, but my word […]

High Yen “Harming Economy”

December 1, 2009

The value of yen has reached 84 yen to 1 dollar, the highest it has been since the mid-1990s. A high yen is harmful to the economy because it damages the competitiveness of Japanese exports. Exports from Japan have been the “engine” of Japan’s growth. There is not much that the government can do to […]

Britain VAT Rate

November 25, 2009

From December 1, 2008, Britain had a 15% VAT rate. The original VAT rate was 17.5%, and in January, the VAT rate will return to it’s original price. According to BBC’s Working Lunch programme, 23% of people said that they spent money that they usually wouldn’t have spent if it wasn’t for the VAT rate. […]

Toyota Scales Back Up

November 11, 2009

Toyota Motors has sclaed back up it’s losses with some clever strategies. Toyota has put the prices of their cars down and improved sales of some of their cars. Another thing they did to save money was to back out of the Formula 1 races. For example, the Prius, their hybrid car. Toyota’s prediction of […]

Hovis Elasticity

November 8, 2009

The brand of Hovis bread is losing money while raising its price. This single statement shows that Hovis has a very elastic price of demand. Since the prices are going up to unprecedented numbers, many consumers are responding strongly and are buying less of the brand. Also, the rise in price of Hovis went up before […]