Find a headline (online or from other news sources) that could be partially explained by elasticity (of demand, supply, income, etc). Post the headline here with a one sentence explanation.
Sources: Lakers, Nuggets talk Melo from http://sports.espn.go.com/los-angeles/nba/news/story?id=6101304 is my source to explain elasticity. If the superstar player Carmelo Anthony joined the LA Lakers their team would become more broadcasted increasing the income from broadcasting, plus since he is a superstar his millions of NBA fans would buy his jersey on a new team(just like Lebron going to the Heat) which would be on high demand so the supply would increase and the revenue would be high; the selling of his new Laker jersey would be very inelastic at the beginning b/c if the price went up people would still want his jersey and the total revenue would increase.
http://news.yahoo.com/s/ap/20110208/ap_on_re_us/us_tec_techbit_smart_phone_sales This headline says that "Smart phones outsell PC's for the first time" This is a perfect example of elasticity. The article goes on to say that PC sales dropping isn't only due smart phones but alternatives like ipads. The alternatives of smart phones and things like ipads are making the demand for PC's very elastic. These alternatives are cheaper, have the novelty of newer technology and are more portable. If PC prices don't drop or come up with something new to entice buyers, the demand is going to drop even more and they are going to be left with too much supply, all the while the consumers will have more income because they spent less and got a similar item with a lot of the same functions.
Toyota has taken some flak for their cars the last 10 months as an investigation into why some vehicles unintentionally accelerated, but they have cleared all investigation. It is yet to be seen how the investigations will hurt the demand of the vehicles and weather or not the Toyota must adjust prices and such.
Start-up Tries Reverse Scalping to Sell Concert and Sports Tickets http://www.latimes.com/business/la-fi-ct-scorebig-20110208,0,597759.story?page=1 This article is about how, in recent years, ticket sales for entertainment like concerts and sports events have gone down significantly. This means that the demand for these tickets is very elastic. To combat this trend, a company is going to allow people to bid for the 20 to 40 percent of seats that would otherwise go unsold. This way people can get the tickets they want at a price that is reasonable to them and the entertainment industry can still fill its venues.
My article is "Egypt events spark Gaza Fuel panic" from alJazeera link http://english.aljazeera.net/video/middleeast/2011/02/201129133520872347.html.
This article is stating that because the uprising in Egypt Gaza's citizens are buying fuel out of panic. Therefore the price of fuel could become very inelastic since people are becoming so scared about needing oil they'll buy it no matter what the price is. Even if the fuel company raised their prices there would still be a high demand since everyone is scared they will run out of fuel.
as the majority of the people who posted in the last blog comment, gas is one of the most inelastic expenditures. Since gas and automobiles are compliments and it is something that most need in order to get to their jobs, school, stores, etc, most consumers look to find an automobile that will be fuel efficient. Ford has redesigned the Ford Focus to accomodate the needs of consumers as well as recognizing that in todays economy there are low-paying jobs. And with the competition in who produces the most fuel efficient automobile the Cruze Eco, " boasts 42 mpg on the highway — the highest fuel economy of any traditional gas-powered car on the market," is an alternative for the Ford Focus.
www.npr.org/blogs/money/2010/3/how_much_would_a_soda_tax_chan.html Their was an article in NPR called Would A soda Tax be a big deal My undetstanding of it will be great I think it will improve here in the United States by having less people having diabetes such as, juvenile diabetes and other types of obesity. However, according to the article they said that 10 percent increase in soda would lead to a seven percent decrease in amount of soda calories people consume there still debating, by the way this article was posted in March 10 2010 This argument economist calls it price elasticity of demand
This article i found is a little old but it is a great example of supply and demand. When the PS3 came out Sony was only supplying a limited amount, therefore the demand was high an the price that it was going for was highly inflated. People who actually spent over $500 for a game counsel were able to sell it to people who were willing to spend $800-$900. The supplies were limited, the demand was high.
http://www.cnn.com/2011/TECH/mobile/02/09/ipad.2.production.mashable/index.html?eref=igoogledcv_topstories This article is talking about the ipad 2 which should be coming out rite around April. They talk about how the demand for the ipad was high and they will be expecting an even greater demand for the new ipad 2 because it will come with a friont and rear camara allowing facetime.
"As Verizon’s iPhone Sales Begin, Gauging the Effects on AT&T"-http://www.nytimes.com/2011/02/10/technology/10phone.html?_r=1&ref=business
This article relates to the elasticity of wireless provider prices. Many people wanted the new iPhone 4 when it originally came out however they were unwilling to pay for the phone service provided by AT&T. Now that it is out for Verizon more people are willing to buy it and have a contract with Verizon because it is a more reliable wireless provider and sources say, "Reviews of the Verizon iPhone have generally found that it drops fewer calls than the AT&T version."
In this article it talks about the throwback jersey's that major league baseball players are going to wear for a couple games this season. This is supposed to help increase demand to come see teams play based on their looks, but some fans are not happy with this because of moves from other cities, so it may cause people to not go to the games.
The demand for facebook is high a social network as such has many viewers and people spend much time on there. imagine if a tax were applied to facebook or even a cost. i think this stradegie is inelastic effect.
Article: “Movie ticket prices reach new milestone” - Richard Verrier, Los Angeles Times
In recent years the price for movie tickets has been increasing (nearly doubling in price over the past decade), especially due to the hype surrounding 3D films, which already have higher ticket prices and are continuing to rise with the national average around twenty dollars. However, customers have remained very elastic to the price increases, not only for the lack of wanting to pay a higher price, but have also been turned off by the subpar 3D productions of some films. Thus, leading to a lower demand and fewer movie theatre sales, especially when alternative substitutes options such as piracy and DVD/Blue Rays sales prove to be more wallet-friendly. SOURCES: http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/01/movie-ticket-prices-reach-new-milestone.html
Article: "Blockbuster May Be For Sale" http://money.msn.com/top-stocks/post.aspx?post=61144490-a5a0-4502-86d2-b86d15055349
Because Blockbuster has not adapted to the changes in video rental trends, and there are so many other video substitutes like Netflix, Amazon, etc., the video market has become more elastic.
Diet soda tied to stroke risk, but reasons unclear
I have recently heard this news all over the radios and on the tv and internet. I think this article will make the elasticity of diet sodas go up because there are other substitutes, and many people might stop from drinking soda altogether. The article is telling people to stop drinknig diet sodas because it leads to strokes. That might make the demand for other drinks go up, such as gatorade, water, and other no-soda drinks.
The article talks about the extreme weather and how it is affecting crops and livestock. Frequent floods and droughts are damaging and yielding a shortage of crop and livestock supplies. A result in a shortage of supply will cause the prices to increase. If the shortage of supply is long term, it could spur for support of biologically engineered foods which will not be healthy. Additionally,it could result in the elasticity of 'organic' foods, while consumers pursue substitutions. Susan Lo
it is about elasticity of demand of houses in Australia. the real house prices in Australia rose an average of over 90 percent between 1980 and 2008. Australia's economic growth and high immigration,demand of house outstrips hosue supply. the biggest is that significant declines in nominal interest rates pushed prices up. these things make people demand houses.
Apple iPad and the price elasticity equation The price changes for those electronic goods are faster than other goods, such as ipod. Therefor, Price matters to the masses and it may take time for Apple to convince people to take the iPad plunge.
http://forums.kingsnake.com/view.php?id=1548249,1548249 People are mass producing animals because there is a high demand for them but thu are selling them at ridiculously low prices because they have so many. This forces other breeders to lower their prices even though these animals are worth way more.
Nokia is trying to make a name for themselves in the smart phone market. They understand that the demand for these types of phones are sky rocketing and that the elasticity for these phones is high.
Oil prices drop as Mubarak leaves Cairo http://news.yahoo.com/s/ap/20110211/ap_on_bi_ge/us_oil_prices
The power struggle in Egypt, caused the oil prices in the US to dramatically increase. The demand for the oil had increase while the supply of oil had decrease making the gas prices go up to $4 dollars a gallon now due to the fact that the US wasn't able to receive the supply at a cheaper price and faster then normal.
http://www.pe.com/localnews/transportation/stories/PE_News_Local_D_gas05.1784964.html Gas prices are the topic of everyones conversation. With rising gas prices ultimately people who have to drive a car are using alternative resources but in reality the average american is going to have to penny pinch to at least to try to get a half tank of gas
Since everyone is talking about the change in gas prices, I thought I would talk about the housing market. The housing market is supposed to change drastically due to government involvement in ways such as, rising mortgage rates, higher down payments, less backing for more expensive homes, and less fixed rate mortgages. If this is in fact true then the housing market may fall even more, less people would be willing to buy lavish homes or any homes at all. The risks are higher and people are not willing and able to spend as much on homes, let alone risking going into foreclosure.
http://www.cars.gov/ Cash for clunkers made many headlines while the offer was on the table. As the government offered a cash credit on a new car for older cars being traded in the demand for cars went up. -amy harris
http://moneycentral.msn.com/content/savinganddebt/saveonacar/p98745.asp Gas is something that we will all need. In this article, it talks about how the demand for gas and how prices are rising.Producers know we need gas so no matter how high the prices are, we are still going to buy it. Gas is an inelastic item.
The los angeles lakers are trying to make a contract with Carmelo Anthony to join the team. With adding another superstar to the team would make the demand for tickets go way up. also people are gonna want to buy Carmelo Anthony's jersey which people would pay a lot of money to have which would make the jersey inelastic.
Use of e-cigs not allowed on U.S. flights Source: http://www.msnbc.msn.com/id/41530424/ns/travel-news/
SInce DOT may ban electronic cigarettes on U.S. flights, users of electronic cigarettes may be less likely to purchase a ticket for a U.S. flight company, and so purchase of flight tickets would be elastic.
http://news.yahoo.com/s/ap/us_wall_street "Stocks rally after Mubarak relinquishes power" The fact that Egypt is a huge player in the world's oil reserves has a major impact on the supply of oil that is made availble to the United States and the world. The fact that Egypt's 30 year dictator has finally stepped down from power has, in theory, drastically increased the supply of oil, while the demand of oil/gas is inelastic the supply of oil/gas is fairly elastic.
http://weblogs.baltimoresun.com/sports/ravens/blog/2011/02/do_you_want_18game_regular_season.html Do fans want 18-game regular season? This was the headline for a newspaper in baltimore and its is talking about the NFL's want to change the regular season to 18 games. Currently they have 16 and they want to make the last 2 preseason games regular games. The reason can be seen through elasticity. The preseason games are extremely elastic, in fact owners have a hard time selling those games out. On the other hand regular season games aren't very elastic. there is a much higher demand for regular season games and normally those are sold out so if they switch those preseason games to regular season games they would make much more money.
http://cnettv.cnet.com/verizon-iphone-launch-lags-nyc-apple-store/9742-1_53-50100029.html?tag=api This was a video that caught my attention because its actually becoming more handy and i would say its becoming a supply that people are considering and consuming if we wouldn't then the demand for them would not have different companies invest millions of dollars in creating a pad. Its just easier than carrying a computer and its does has the same concept.
With the new design the demand for facebook use could drastically increase or could revert to other social networks like myspace. An Ex. would be myspace with their new design many users of social networks switched to facebook based on the elastic demand for the design they had before.
This article is about the 2011 Chicago auto show going on this year. I believe that auto shows in general like this one bring in competition between auto makers. Auto makers like Ford, Dodge, and Chevrolet use these type of conventions to show off their automobiles. Thus, having a high demand from us buyers to make valuable vehicles that we can enjoy.
http://money.cnn.com/2011/02/11/smallbusiness/e_fuel_ethanol/index.htm?source=cnn_bin&hpt=Sbin this article talks about a subtition for fuel on cars instead of using gasoline they make an ethonal compound that is cheaper to make and buy it is made from literary our trash. this shows that the elasticity of demand might drop and people would prefer this type of fuel over the high priced gasoline they will have to lower prices or find a way to lower cost of prodction so they can sell it for cheaper
http://www.autoblog.com/2010/01/04/report-number-of-cars-in-the-u-s-dropped-by-four-million-in-20/ this blog illustrates the decreasing demand of cars when what we are facing now adays, inflation occurs on the price of cars. Americans tend to save their money especially because of the hardships with the economy in order to backup themselves in cases they actually need them.
For hot rod hobbyist, having a hot rod that they created from scratch is very inelastic when it comes to the parts needed. For the majority of people, this is an elastic product. By allowing hobbyist to build their own custom or replica hot rods, it will increase the demand for inelastic products needed for their projects.
"Shopping For A Car? Start At The Pump" http://www.thecarconnection.com/marty-blog/1055235_shopping-for-a-car-start-at-the-pump
The price of complements (cars & gas) together are elastic to a certain point. The elasticity of cars depend upon the price of gas. If the amount of gas is too high, the purchase of cars will go down.
the article i got is an old one but the same thing occurs every year when the NBA finals arrive.
"NBA Finals Game Six Recap, Celtics & Lakers to Play in Game Seven for the 'Ship" http://seatgeek.com/sports/basketball/nba-finals-game-six-recap-celtics-lakers-to-play-in-game-seven-for-the-ship#
In this article it shows a graph which diplays how inelastic the price for a seat to watch the lakers vs the celtics increased to an extraordinay amount as the 2010 NBA championship came to an end. the higher the demand for tickets, the higher the price will be.
Gas and oil are known to be a necessity in everyday lives (inelastic); transportation is what us as consumers/producers/earners rely on to keep the economy going by being able to still produce and consume and the driving force behind our means of mobility and as prices go up it affects our disposable income and ability to consume others' goods and services. (and vise versa)
This article talks about how many Americans face unemployment. Since their income will now decrease their demand for luxury goods will decrease as well.
"Big recall of baby monitors linked to 2 deaths"-L.A. Times
Nearly two million baby video monitors were recalled by the consumer product safety commission. The company is called Summer Infant and I would imagine that the demand for these monitors is extremely elastic due to what happened. Two babies were strangled by the cords of these monitors and I know I will not be buying a baby monitor from this company.
This article talks about how nokia wants to join the competition of smart phones. Nokia has realized that they are falling behind with the technology in their phones and have joined forces with Microsoft to try to compete with the Android and Apple. This article shows that Nokia is trying to be inelastic by trying to make better smart phones that will kept them in the competition.
This article talks about how Fannie and Freddie might eventually become extinct. Well, what they would really do is reform them, change the names and the structure but overall probably not too significant a shift from what Fannie and Freddie do in the broader sense. Fannie and Freddie assisted homeowners buy homes that they shouldn't qualify for and helped push the real estate bubble up higher. If financing standards were held constant through various cycles-which they are not-prices of homes would be very elastic. We will see what wonderful new organization is proposed to take the place of Fannie and Freddie.
This article is about price elasticity and gasoline. Basically, if the price of gasoline increases, people will adjust their habbits. In the long run,the volume of traffic will decrease, and the volume of fuel consumed will decrease. Overall consumption will decrease.
The article that I am posting about is titled, Egypt unrest pushes Arizona gas prices up overnight. The reason that I chose this article is that it does a good job of showing how elastic Gas actually is. The fear from the protests in Egypt made it it move up, and fast. That kind of thing happens a lot in the Gas market. Jimmy Walker
http://finance.yahoo.com/news/Gas-pump-prices-highest-ever-apf-2969241295.html?x=0&sec=topStories&pos=4&asset=&ccode= this article shows the inelasticity of gas, because gas prices keep increasing but people keep buying gas
This article talks about how Pepsi will release a new design for their diet pepsi. They are going to sell a skinny can which can either affect them in a good way or a bad way, because the elasticity demand for soda consumers can decide to purchase Coke instead of Pepsi.
This article shows the inelasticity of these egyptian artifacts. That the Egyptian government would go to any extent to recover these treasures. They have already their entire police department in Cairo as well as the Egyptian army in search. This shows how these artifacts aren't worth any amount of money because of their sentimental value causing them to be very inelastic.
Article: Boeing Aims to Fly 747-8 Passenger Jet by End of March
Boeing is looking to launch their new jumbo jet in two months time. This represents the elasticity of demand for air travel. When the recession hit the elasticity of demand for airlines was elastic so they needed to cut back and charge more fees in order to stay in business. Now that the recession is over the airlines are looking to get their lost business back. Dayna Wheatley
This fashion designer wants to see his clothing on every day people on the streets. Clothing is an elastic good because it is a luxury. By making a luxury more acceptable to the public, he will make more money.
This story is about CC Sabathia having the opportunity to opt out of his contract after his third year. This creates problems for the Yankees because it may cause a loss of sales in tickets and clothing, they also may have to spend more money in order to get a pitcher of equal quality.
Companies Raise Prices as Commodity Costs Jump http://www.nytimes.com/2011/02/15/business/15prices.html?_r=1&partner=rss&emc=rss
This article discusses how some companies cannot stay at the same prices on some of their products any longer. They need to raise prices to protect their profits. Some are worried that with the increased prices that some consumers will not be willing to spend the cash. Other companies have some items that will still be purchased because they are inelastic.
This article discusses the rapidly rising popularity of netflix which is making its way to the android. Netflix is an example of an inelastic object because they are not many substitutes for it and as it says at then end of the article people continue to buy stock in it despite its increase in shares.
this post is related to elasticity because if they found something wrong with energy drinks people are going to look for another substitute which is coffee. So the demand for energy drinks will go down and the demand for coffee will go up.
http://sports.espn.go.com/mlb/spring2011/news/story?id=6124272 This article discusses how the MLB union is putting more pressure on Albert Pujols to sign a record breaking contract with the St. Louis Cardinals or another team. Pujols is one of Major League Baseball's most talented and popular players at this point in his career. If he were to sign with a team other than the Cardinals then that team's total revenue is sure to go up since his superstar status will increase the total attendance; therefore, increasing other sales around the ballpark.
'Gas Prices Motoring Upward' This is a clear example of elasticity of demand as gas has become an incredibly inelastic good in our society because of our reliance on cars for transportation. But just how inelastic will it be if prices continue to increase?
Lots of wonderful headlines here...some of my favs: Egyptian artifacts, Blockbuster/Netflix/Redbox, and substitutes emerging in the social network world. All very interesting links! Good work all
http://articles.latimes.com/2011/jan/11/local/la-me-0111-budget-effects-20110111 Because of our over spending and California being close to bankruptcy, Jerry Brown has proposed and new budget that will cut at least 500 million from a 2.7 billion school budget that include the csu and uc system. As we know with a recession more people are bound to go to college because the trade off is much less, with this being said there are more people going to college but supply is being cut. Right now school seems to be very inelastic, much like oil we complain about the prices(which most likely will increase) but we dont see too many people dropping out because of it. Jaime Garcia Rodriguez
http://articles.sfgate.com/2009-05-24/business/17200359_1_oil-prices-oil-costs-oil-market The title of the article is Supply up and demand down, but oil prices rise...
I chose this article because through out class we learned that if supply is up and demand is low than the prices go down. Thats not what is happening with oil prices, marketing some economist worried.
iPad Demand in 2011: Competitors to Struggle http://www.product-reviews.net/2011/02/17/ipad-demand-in-2011-competitors-to-struggle/
This article talks about how sales for Apple have not slowed but its competitors will struggle because Apple is taking most of the supply of touch screens which will make Apple get more sales in the long run.
This is an article about the smart phones and how Nokia wants to hop on the bandwagon of them. The technology that Nokia uses in their phones are not as advance as the operating systems used in other phones. Microsoft has agreed to let Nokia join them in an attempt to compete with Apple and Android phones. This is an example of in elasticity because Nokia is making an attempt to better their phones so they wont be left behind in the competition.
Despite the economic downturn,consumers are stil demanding the newest and greatest smartphones no matter the price. ( which makes this an inelastic demand) Sales of these smartphones has sky rocketed and will continue. As long as consumers continue to buy the revenue that these cell phone companies earn, will continue to grow.
This is about the prices of oil in the different areas around the United States. It also mentions how the United States is no longer a good indicator of the demand of oil. Oil is inelastic in the United States because we are a wealthier country than most and people are more willing to pay as the prices go up because oil is considered a necessity to us.
This article talks about the expense it is to purchase an ipad, and how there are plenty of substitutes for it. In a way ipads are elastic because there are many substitutes like the kindle or the samsung gala tab. But in another way it is inelastic because of the features that it has like apple store or face time. The elasticity depends on the customer and how much they are willing to pay for those extra features. -cynthia inchaurregui
in this article i read about how toyota had to stop producing a certain car because of the problems it was giving their owners. and even thought some of the costumers got a car back, they didnt want the one the owned before because of the problems. in that case it cause problems for the demands of this model, because now it was brand new and havieng problems, now people dont wont to buy it.
elasticity,If the superstar passes up the greatest of all time MJ, he is surely to become more broad casted increasing the income from broadcasting, plus since his fans are all young he at min. will be selling two tickets the kid and a parent.which would be on high demand so the supply would increase and the revenue would be high; the selling tickets and merchandise would be very inelastic at the beginning b/c if the price went up people would still want his things and the total revenue would increase.
http://www.pcmag.com/article2/0,2817,2380665,00.asp The sales of the nintendo wii were down in June and that can in part be explained by elasticity. The big three gaming systems; the wii, xbox 360, and ps3, had been around for a while so many consumers already have at least one of the systems and therefore the other systems, being substitutes, have a higher elasticity because of this.
In this article it talks about how even though the gas prices in the middle east are rising which is causing an increase in prices in the US the demand for gas in the US is still rising --oakford gross
this article was about the expensive cost of oil barrels, witch in turn raises the prise of gasoline. they are able to determine the price of oil on the current crises in the middle east, seams unfair, but becasue of it they ae able to jack up prises. so not only are innocent people being killed by their own leader, but oil prices are up the roof, and not to mention the conflcit in japan.. its all bad right now
This articles describes 5 industries that are slowly disappearing because they are competing in an elastic market that has many alternatives to the products that they produce. And these other competitors seem to be making better products at a cheaper price.
A tornado tore through the Lambert-St Louis airport. They closed down the airport for safety and damage. Looks like the demand for use of the airport is pretty elastic if it took a tornado to close it down. It took a tornado to tear through the building and facilities to close it down. http://www.bbc.co.uk/news/technology-13169518
Sources: Lakers, Nuggets talk Melo from http://sports.espn.go.com/los-angeles/nba/news/story?id=6101304 is my source to explain elasticity. If the superstar player Carmelo Anthony joined the LA Lakers their team would become more broadcasted increasing the income from broadcasting, plus since he is a superstar his millions of NBA fans would buy his jersey on a new team(just like Lebron going to the Heat) which would be on high demand so the supply would increase and the revenue would be high; the selling of his new Laker jersey would be very inelastic at the beginning b/c if the price went up people would still want his jersey and the total revenue would increase.
ReplyDeletehttp://news.yahoo.com/s/ap/20110208/ap_on_re_us/us_tec_techbit_smart_phone_sales
ReplyDeleteThis headline says that "Smart phones outsell PC's for the first time"
This is a perfect example of elasticity. The article goes on to say that PC sales dropping isn't only due smart phones but alternatives like ipads. The alternatives of smart phones and things like ipads are making the demand for PC's very elastic. These alternatives are cheaper, have the novelty of newer technology and are more portable. If PC prices don't drop or come up with something new to entice buyers, the demand is going to drop even more and they are going to be left with too much supply, all the while the consumers will have more income because they spent less and got a similar item with a lot of the same functions.
http://money.cnn.com/2011/02/08/autos/nhtsa_nasa_toyota_final_report/index.htm?hpt=T2
ReplyDeleteToyota has taken some flak for their cars the last 10 months as an investigation into why some vehicles unintentionally accelerated, but they have cleared all investigation. It is yet to be seen how the investigations will hurt the demand of the vehicles and weather or not the Toyota must adjust prices and such.
Start-up Tries Reverse Scalping to Sell Concert and Sports Tickets
ReplyDeletehttp://www.latimes.com/business/la-fi-ct-scorebig-20110208,0,597759.story?page=1
This article is about how, in recent years, ticket sales for entertainment like concerts and sports events have gone down significantly. This means that the demand for these tickets is very elastic. To combat this trend, a company is going to allow people to bid for the 20 to 40 percent of seats that would otherwise go unsold. This way people can get the tickets they want at a price that is reasonable to them and the entertainment industry can still fill its venues.
My article is "Egypt events spark Gaza Fuel panic" from alJazeera link http://english.aljazeera.net/video/middleeast/2011/02/201129133520872347.html.
ReplyDeleteThis article is stating that because the uprising in Egypt Gaza's citizens are buying fuel out of panic. Therefore the price of fuel could become very inelastic since people are becoming so scared about needing oil they'll buy it no matter what the price is. Even if the fuel company raised their prices there would still be a high demand since everyone is scared they will run out of fuel.
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ReplyDeletehttp://www.latimes.com/business/la-fi-0210-autos-ford-focus-review-20110210,0,6869788.story
ReplyDeleteas the majority of the people who posted in the last blog comment, gas is one of the most inelastic expenditures. Since gas and automobiles are compliments and it is something that most need in order to get to their jobs, school, stores, etc, most consumers look to find an automobile that will be fuel efficient. Ford has redesigned the Ford Focus to accomodate the needs of consumers as well as recognizing that in todays economy there are low-paying jobs. And with the competition in who produces the most fuel efficient automobile the Cruze Eco, " boasts 42 mpg on the highway — the highest fuel economy of any traditional gas-powered car on the market," is an alternative for the Ford Focus.
www.npr.org/blogs/money/2010/3/how_much_would_a_soda_tax_chan.html
ReplyDeleteTheir was an article in NPR called Would A soda Tax be a big deal My undetstanding of it will be great I think it will improve here in the United States by having less people having diabetes such as, juvenile diabetes and other types of obesity. However, according to the article they said that 10 percent increase in soda would lead to a seven percent decrease in amount of soda calories people consume there still debating, by the way this article was posted in March 10 2010 This argument economist calls it price elasticity of demand
http://www.articlesbase.com/video-games-articles/the-playstation-3-supply-and-demand-85820.html
ReplyDeleteThis article i found is a little old but it is a great example of supply and demand. When the PS3 came out Sony was only supplying a limited amount, therefore the demand was high an the price that it was going for was highly inflated. People who actually spent over $500 for a game counsel were able to sell it to people who were willing to spend $800-$900. The supplies were limited, the demand was high.
http://www.cnn.com/2011/TECH/mobile/02/09/ipad.2.production.mashable/index.html?eref=igoogledcv_topstories
ReplyDeleteThis article is talking about the ipad 2 which should be coming out rite around April. They talk about how the demand for the ipad was high and they will be expecting an even greater demand for the new ipad 2 because it will come with a friont and rear camara allowing facetime.
"As Verizon’s iPhone Sales Begin, Gauging the Effects on AT&T"-http://www.nytimes.com/2011/02/10/technology/10phone.html?_r=1&ref=business
ReplyDeleteThis article relates to the elasticity of wireless provider prices. Many people wanted the new iPhone 4 when it originally came out however they were unwilling to pay for the phone service provided by AT&T. Now that it is out for Verizon more people are willing to buy it and have a contract with Verizon because it is a more reliable wireless provider and sources say, "Reviews of the Verizon iPhone have generally found that it drops fewer calls than the AT&T version."
http://sports.yahoo.com/mlb/blog/big_league_stew/post/Fashion-Ump-Should-LA-Dodgers-wear-Brooklyn-thr?urn=mlb-319086
ReplyDeleteIn this article it talks about the throwback jersey's that major league baseball players are going to wear for a couple games this season. This is supposed to help increase demand to come see teams play based on their looks, but some fans are not happy with this because of moves from other cities, so it may cause people to not go to the games.
Kyle Brown
www.facebook.com
ReplyDeleteThe demand for facebook is high a social network as such has many viewers and people spend much time on there. imagine if a tax were applied to facebook or even a cost. i think this stradegie is inelastic effect.
Article: “Movie ticket prices reach new milestone”
ReplyDelete- Richard Verrier, Los Angeles Times
In recent years the price for movie tickets has been increasing (nearly doubling in price over the past decade), especially due to the hype surrounding 3D films, which already have higher ticket prices and are continuing to rise with the national average around twenty dollars. However, customers have remained very elastic to the price increases, not only for the lack of wanting to pay a higher price, but have also been turned off by the subpar 3D productions of some films. Thus, leading to a lower demand and fewer movie theatre sales, especially when alternative substitutes options such as piracy and DVD/Blue Rays sales prove to be more wallet-friendly.
SOURCES:
http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/01/movie-ticket-prices-reach-new-milestone.html
http://www.fightpiracy.org/articles/will-the-movie-industrys-raise-of-movie-ticket-prices-negatively-impact-hollywood-industry-profits-and-increase-piracy-and-illegal-downloading-of-pirated-films.html
-Susan S
This comment has been removed by the author.
ReplyDeleteArticle: "Blockbuster May Be For Sale"
ReplyDeletehttp://money.msn.com/top-stocks/post.aspx?post=61144490-a5a0-4502-86d2-b86d15055349
Because Blockbuster has not adapted to the changes in video rental trends, and there are so many other video substitutes like Netflix, Amazon, etc., the video market has become more elastic.
http://news.yahoo.com/s/ap/20110209/ap_on_he_me/us_med_stroke_diet_soda
ReplyDeleteDiet soda tied to stroke risk, but reasons unclear
I have recently heard this news all over the radios and on the tv and internet. I think this article will make the elasticity of diet sodas go up because there are other substitutes, and many people might stop from drinking soda altogether. The article is telling people to stop drinknig diet sodas because it leads to strokes. That might make the demand for other drinks go up, such as gatorade, water, and other no-soda drinks.
http://www.msnbc.msn.com/id/41481344/ns/business-eye_on_the_economy/
ReplyDeleteThe article talks about the extreme weather and how it is affecting crops and livestock. Frequent floods and droughts are damaging and yielding a shortage of crop and livestock supplies. A result in a shortage of supply will cause the prices to increase. If the shortage of supply is long term, it could spur for support of biologically engineered foods which will not be healthy. Additionally,it could result in the elasticity of 'organic' foods, while consumers pursue substitutions.
Susan Lo
http://www.businessspectator.com.au/bs.nsf/Article/OECD-housing-pd20110121-DBEMG?OpenDocument
ReplyDeleteit is about elasticity of demand of houses in Australia. the real house prices in Australia rose an average of over 90 percent between 1980 and 2008. Australia's economic growth and high immigration,demand of house outstrips hosue supply. the biggest is that significant declines in nominal interest rates pushed prices up. these things make people demand houses.
http://www.zdnet.com/blog/btl/apple-ipad-and-the-price-elasticity-equation/32753
ReplyDeleteApple iPad and the price elasticity equation
The price changes for those electronic goods are faster than other goods, such as ipod. Therefor, Price matters to the masses and it may take time for Apple to convince people to take the iPad plunge.
http://forums.kingsnake.com/view.php?id=1548249,1548249
ReplyDeletePeople are mass producing animals because there is a high demand for them but thu are selling them at ridiculously low prices because they have so many. This forces other breeders to lower their prices even though these animals are worth way more.
http://finance.yahoo.com/news/Nokia-Microsoft-in-pact-to-apf-1148590374.html?x=0
ReplyDeleteNokia is trying to make a name for themselves in the smart phone market. They understand that the demand for these types of phones are sky rocketing and that the elasticity for these phones is high.
Oil prices drop as Mubarak leaves Cairo
ReplyDeletehttp://news.yahoo.com/s/ap/20110211/ap_on_bi_ge/us_oil_prices
The power struggle in Egypt, caused the oil prices in the US to dramatically increase. The demand for the oil had increase while the supply of oil had decrease making the gas prices go up to $4 dollars a gallon now due to the fact that the US wasn't able to receive the supply at a cheaper price and faster then normal.
http://www.pe.com/localnews/transportation/stories/PE_News_Local_D_gas05.1784964.html
ReplyDeleteGas prices are the topic of everyones conversation. With rising gas prices ultimately people who have to drive a car are using alternative resources but in reality the average american is going to have to penny pinch to at least to try to get a half tank of gas
http://finance.yahoo.com/real-estate/article/112093/how-buying-a-home-is-likely-to-change?mod=realestate-buy
ReplyDeleteSince everyone is talking about the change in gas prices, I thought I would talk about the housing market. The housing market is supposed to change drastically due to government involvement in ways such as, rising mortgage rates, higher down payments, less backing for more expensive homes, and less fixed rate mortgages. If this is in fact true then the housing market may fall even more, less people would be willing to buy lavish homes or any homes at all. The risks are higher and people are not willing and able to spend as much on homes, let alone risking going into foreclosure.
Breanna Montoya
http://www.cars.gov/
ReplyDeleteCash for clunkers made many headlines while the offer was on the table. As the government offered a cash credit on a new car for older cars being traded in the demand for cars went up.
-amy harris
http://moneycentral.msn.com/content/savinganddebt/saveonacar/p98745.asp
ReplyDeleteGas is something that we will all need. In this article, it talks about how the demand for gas and how prices are rising.Producers know we need gas so no matter how high the prices are, we are still going to buy it. Gas is an inelastic item.
http://sports.espn.go.com/los-angeles/nba/news/story?id=6101304
ReplyDeleteThe los angeles lakers are trying to make a contract with Carmelo Anthony to join the team. With adding another superstar to the team would make the demand for tickets go way up. also people are gonna want to buy Carmelo Anthony's jersey which people would pay a lot of money to have which would make the jersey inelastic.
Use of e-cigs not allowed on U.S. flights
ReplyDeleteSource: http://www.msnbc.msn.com/id/41530424/ns/travel-news/
SInce DOT may ban electronic cigarettes on U.S. flights, users of electronic cigarettes may be less likely to purchase a ticket for a U.S. flight company, and so purchase of flight tickets would be elastic.
http://news.yahoo.com/s/ap/us_wall_street
ReplyDelete"Stocks rally after Mubarak relinquishes power"
The fact that Egypt is a huge player in the world's oil reserves has a major impact on the supply of oil that is made availble to the United States and the world. The fact that Egypt's 30 year dictator has finally stepped down from power has, in theory, drastically increased the supply of oil, while the demand of oil/gas is inelastic the supply of oil/gas is fairly elastic.
Justin Miller
http://weblogs.baltimoresun.com/sports/ravens/blog/2011/02/do_you_want_18game_regular_season.html
ReplyDeleteDo fans want 18-game regular season?
This was the headline for a newspaper in baltimore and its is talking about the NFL's want to change the regular season to 18 games. Currently they have 16 and they want to make the last 2 preseason games regular games. The reason can be seen through elasticity. The preseason games are extremely elastic, in fact owners have a hard time selling those games out. On the other hand regular season games aren't very elastic. there is a much higher demand for regular season games and normally those are sold out so if they switch those preseason games to regular season games they would make much more money.
http://money.cnn.com/2011/02/11/technology/pandora_ipo/index.htm
ReplyDeleteAccording to the article Pandora is not profitable and reported a net loss of $16.8 million. This proves that there is an elastic demand for Pandora.
http://cnettv.cnet.com/verizon-iphone-launch-lags-nyc-apple-store/9742-1_53-50100029.html?tag=api
ReplyDeleteThis was a video that caught my attention because its actually becoming more handy and i would say its becoming a supply that people are considering and consuming if we wouldn't then the demand for them would not have different companies invest millions of dollars in creating a pad. Its just easier than carrying a computer and its does has the same concept.
Facebook launches pages redesign
ReplyDeletehttp://www.cnn.com/2011/TECH/social.media/02/11/facebook.page.redesign.mashable/index.html?hpt=T2
With the new design the demand for facebook use could drastically increase or could revert to other social networks like myspace. An Ex. would be myspace with their new design many users of social networks switched to facebook based on the elastic demand for the design they had before.
Chaun Calvin
Why one oil company dumped natural gas.
ReplyDeletehttp://money.cnn.com/2011/02/11/news/economy/chesapeake-natural-gas-shakeout.fortune/index.htm
This article elaborates on the inelastic demand for gas, and how its elasticity is causing a problem for the natural gas frontier.
http://autos.yahoo.com/auto-shows/autoshow_top_homepage/1717/the-2011-chicago-auto-show-brings-out-the-big-guns/
ReplyDeleteThis article is about the 2011 Chicago auto show going on this year. I believe that auto shows in general like this one bring in competition between auto makers. Auto makers like Ford, Dodge, and Chevrolet use these type of conventions to show off their automobiles. Thus, having a high demand from us buyers to make valuable vehicles that we can enjoy.
http://money.cnn.com/2011/02/11/smallbusiness/e_fuel_ethanol/index.htm?source=cnn_bin&hpt=Sbin
ReplyDeletethis article talks about a subtition for fuel on cars instead of using gasoline they make an ethonal compound that is cheaper to make and buy it is made from literary our trash. this shows that the elasticity of demand might drop and people would prefer this type of fuel over the high priced gasoline they will have to lower prices or find a way to lower cost of prodction so they can sell it for cheaper
http://www.autoblog.com/2010/01/04/report-number-of-cars-in-the-u-s-dropped-by-four-million-in-20/
ReplyDeletethis blog illustrates the decreasing demand of cars when what we are facing now adays, inflation occurs on the price of cars. Americans tend to save their money especially because of the hardships with the economy in order to backup themselves in cases they actually need them.
SEMA and California Agencies Solve Titling Dilemma for Hobbyist Vehicles
ReplyDeletehttp://www.sema.org/products/7112/sema-and-california-agencies-solve-titling-dilemma-for-hobbyist-vehicles
For hot rod hobbyist, having a hot rod that they created from scratch is very inelastic when it comes to the parts needed. For the majority of people, this is an elastic product. By allowing hobbyist to build their own custom or replica hot rods, it will increase the demand for inelastic products needed for their projects.
-Eric Cisneros
"Shopping For A Car? Start At The Pump"
ReplyDeletehttp://www.thecarconnection.com/marty-blog/1055235_shopping-for-a-car-start-at-the-pump
The price of complements (cars & gas) together are elastic to a certain point. The elasticity of cars depend upon the price of gas. If the amount of gas is too high, the purchase of cars will go down.
the article i got is an old one but the same thing occurs every year when the NBA finals arrive.
ReplyDelete"NBA Finals Game Six Recap, Celtics & Lakers to Play in Game Seven for the 'Ship"
http://seatgeek.com/sports/basketball/nba-finals-game-six-recap-celtics-lakers-to-play-in-game-seven-for-the-ship#
In this article it shows a graph which diplays how inelastic the price for a seat to watch the lakers vs the celtics increased to an extraordinay amount as the 2010 NBA championship came to an end. the higher the demand for tickets, the higher the price will be.
http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm
ReplyDelete"How does oil speculation raise gas prices?"
Gas and oil are known to be a necessity in everyday lives (inelastic); transportation is what us as consumers/producers/earners rely on to keep the economy going by being able to still produce and consume and the driving force behind our means of mobility and as prices go up it affects our disposable income and ability to consume others' goods and services. (and vise versa)
America’s biggest problem? Unemployment
ReplyDeleteThis article talks about how many Americans face unemployment. Since their income will now decrease their demand for luxury goods will decrease as well.
"Big recall of baby monitors linked to 2 deaths"-L.A. Times
ReplyDeleteNearly two million baby video monitors were recalled by the consumer product safety commission. The company is called Summer Infant and I would imagine that the demand for these monitors is extremely elastic due to what happened. Two babies were strangled by the cords of these monitors and I know I will not be buying a baby monitor from this company.
http://www.latimes.com/business/realestate/la-fi-luxury-home-sales-20110212,0,2968790.story
ReplyDeleteLuxury home sales jump 21% in California
The low interest rates were like an incentive to get more Californians to buy the houses.
Brittany McSwain
http://news.yahoo.com/s/nm/20110211/bs_nm/us_nokia;_ylt=AtP3M6ive4LM6EZ798o4TnGyBhIF;_ylu=X3oDMTI5ZGdydWJoBGFzc2V0A25tLzIwMTEwMjExL3VzX25va2lhBGNwb3MDMgRwb3MDNQRzZWMDeW5fdG9wX3N0b3J5BHNsawNub2tpYXN1cnJlbmQ-
ReplyDeleteThis article talks about how nokia wants to join the competition of smart phones. Nokia has realized that they are falling behind with the technology in their phones and have joined forces with Microsoft to try to compete with the Android and Apple. This article shows that Nokia is trying to be inelastic by trying to make better smart phones that will kept them in the competition.
http://online.wsj.com/article/SB10001424052748703786804576137942242796306.html?mod=WSJ_WSJ_US_News_5
ReplyDeleteThis article talks about how Fannie and Freddie might eventually become extinct. Well, what they would really do is reform them, change the names and the structure but overall probably not too significant a shift from what Fannie and Freddie do in the broader sense. Fannie and Freddie assisted homeowners buy homes that they shouldn't qualify for and helped push the real estate bubble up higher. If financing standards were held constant through various cycles-which they are not-prices of homes would be very elastic. We will see what wonderful new organization is proposed to take the place of Fannie and Freddie.
http://economics.about.com/od/priceelasticityofdemand/a/gasoline_elast.htm
ReplyDeleteThis article is about price elasticity and gasoline. Basically, if the price of gasoline increases, people will adjust their habbits. In the long run,the volume of traffic will decrease, and the volume of fuel consumed will decrease. Overall consumption will decrease.
-Cory W.
http://news.yahoo.com/s/ap/20110208/ap_on_re_us/us_tec_techbit_smart_phone_sales
ReplyDeleteThe rising availability of supplements for PCs is making the demand for PCs go down, which demonstrates the elasticity of PCs.
Katherine Hedd
http://www.msnbc.msn.com/id/41373859
ReplyDeleteThe article that I am posting about is titled, Egypt unrest pushes Arizona gas prices up overnight. The reason that I chose this article is that it does a good job of showing how elastic Gas actually is. The fear from the protests in Egypt made it it move up, and fast. That kind of thing happens a lot in the Gas market.
Jimmy Walker
http://finance.yahoo.com/news/Gas-pump-prices-highest-ever-apf-2969241295.html?x=0&sec=topStories&pos=4&asset=&ccode=
ReplyDeletethis article shows the inelasticity of gas, because gas prices keep increasing but people keep buying gas
http://www.msnbc.msn.com/id/41540062/ns/business-retail/
ReplyDeleteThis article talks about how Pepsi will release a new design for their diet pepsi. They are going to sell a skinny can which can either affect them in a good way or a bad way, because the elasticity demand for soda consumers can decide to purchase Coke instead of Pepsi.
http://www.cnn.com/2011/WORLD/meast/02/13/egypt.museum/index.html?hpt=T1
ReplyDeleteThis article shows the inelasticity of these egyptian artifacts. That the Egyptian government would go to any extent to recover these treasures. They have already their entire police department in Cairo as well as the Egyptian army in search. This shows how these artifacts aren't worth any amount of money because of their sentimental value causing them to be very inelastic.
http://www.businessweek.com/news/2011-02-13/boeing-aims-to-fly-747-8-passenger-jet-by-end-of-march.html
ReplyDeleteArticle: Boeing Aims to Fly 747-8 Passenger Jet by End of March
Boeing is looking to launch their new jumbo jet in two months time. This represents the elasticity of demand for air travel. When the recession hit the elasticity of demand for airlines was elastic so they needed to cut back and charge more fees in order to stay in business. Now that the recession is over the airlines are looking to get their lost business back.
Dayna Wheatley
http://runway.blogs.nytimes.com/2011/02/12/altuzarra-street-value/?ref=style
ReplyDeleteThis fashion designer wants to see his clothing on every day people on the streets. Clothing is an elastic good because it is a luxury. By making a luxury more acceptable to the public, he will make more money.
http://sports.espn.go.com/new-york/mlb/news/story?id=6120676
ReplyDeleteThis story is about CC Sabathia having the opportunity to opt out of his contract after his third year. This creates problems for the Yankees because it may cause a loss of sales in tickets and clothing, they also may have to spend more money in order to get a pitcher of equal quality.
Companies Raise Prices as Commodity Costs Jump
ReplyDeletehttp://www.nytimes.com/2011/02/15/business/15prices.html?_r=1&partner=rss&emc=rss
This article discusses how some companies cannot stay at the same prices on some of their products any longer. They need to raise prices to protect their profits. Some are worried that with the increased prices that some consumers will not be willing to spend the cash. Other companies have some items that will still be purchased because they are inelastic.
Charlie Newton
http://money.cnn.com/2011/02/14/technology/Netflix_upgrade/index.htm
ReplyDeleteThis article discusses the rapidly rising popularity of netflix which is making its way to the android. Netflix is an example of an inelastic object because they are not many substitutes for it and as it says at then end of the article people continue to buy stock in it despite its increase in shares.
http://news.yahoo.com/s/ap/20110214/ap_on_he_me/us_med_energy_drinks
ReplyDeletethis post is related to elasticity because if they found something wrong with energy drinks people are going to look for another substitute which is coffee. So the demand for energy drinks will go down and the demand for coffee will go up.
http://sports.espn.go.com/mlb/spring2011/news/story?id=6124272
ReplyDeleteThis article discusses how the MLB union is putting more pressure on Albert Pujols to sign a record breaking contract with the St. Louis Cardinals or another team. Pujols is one of Major League Baseball's most talented and popular players at this point in his career. If he were to sign with a team other than the Cardinals then that team's total revenue is sure to go up since his superstar status will increase the total attendance; therefore, increasing other sales around the ballpark.
http://www.chicagotribune.com/business/sc-biz-0217-gas-prices-20110216,0,4741489.story
ReplyDelete'Gas Prices Motoring Upward'
This is a clear example of elasticity of demand as gas has become an incredibly inelastic good in our society because of our reliance on cars for transportation. But just how inelastic will it be if prices continue to increase?
Lots of wonderful headlines here...some of my favs: Egyptian artifacts, Blockbuster/Netflix/Redbox, and substitutes emerging in the social network world. All very interesting links! Good work all
ReplyDeletehttp://articles.latimes.com/2011/jan/11/local/la-me-0111-budget-effects-20110111
ReplyDeleteBecause of our over spending and California being close to bankruptcy, Jerry Brown has proposed and new budget that will cut at least 500 million from a 2.7 billion school budget that include the csu and uc system. As we know with a recession more people are bound to go to college because the trade off is much less, with this being said there are more people going to college but supply is being cut. Right now school seems to be very inelastic, much like oil we complain about the prices(which most likely will increase) but we dont see too many people dropping out because of it.
Jaime Garcia Rodriguez
http://articles.sfgate.com/2009-05-24/business/17200359_1_oil-prices-oil-costs-oil-market
ReplyDeleteThe title of the article is Supply up and demand down, but oil prices rise...
I chose this article because through out class we learned that if supply is up and demand is low than the prices go down. Thats not what is happening with oil prices, marketing some economist worried.
iPad Demand in 2011: Competitors to Struggle
ReplyDeletehttp://www.product-reviews.net/2011/02/17/ipad-demand-in-2011-competitors-to-struggle/
This article talks about how sales for Apple have not slowed but its competitors will struggle because Apple is taking most of the supply of touch screens which will make Apple get more sales in the long run.
http://news.yahoo.com/s/nm/20110211/bs_nm/us_nokia;_ylt=AtP3M6ive4LM6EZ798o4TnGyBhIF;_ylu=X3oDMTI5ZGdydWJoBGFzc2V0A25tLzIwMTEwMjExL3VzX25va2lhBGNwb3MDMgRwb3MDNQRzZWMDeW5fdG9wX3N0b3J5BHNsawNub2tpYXN1cnJlbmQ-
ReplyDeleteThis is an article about the smart phones and how Nokia wants to hop on the bandwagon of them.
The technology that Nokia uses in their phones are not as advance as the operating systems used in other phones. Microsoft has agreed to let Nokia join them in an attempt to compete with Apple and Android phones. This is an example of in elasticity because Nokia is making an attempt to better their phones so they wont be left behind in the competition.
Daniel Cruz
MWF
9:20-10:30
http://www.informationweek.com/news/windows/operatingsystems/showArticle.jhtml?articleID=22570209
ReplyDeleteDespite the economic downturn,consumers are stil demanding the newest and greatest smartphones no matter the price. ( which makes this an inelastic demand) Sales of these smartphones has sky rocketed and will continue. As long as consumers continue to buy the revenue that these cell phone companies earn, will continue to grow.
http://news.yahoo.com/s/nm/20110309/lf_nm_life/us_usa_oil
ReplyDeleteThis is about the prices of oil in the different areas around the United States. It also mentions how the United States is no longer a good indicator of the demand of oil. Oil is inelastic in the United States because we are a wealthier country than most and people are more willing to pay as the prices go up because oil is considered a necessity to us.
http://shopping.yahoo.com/articles/yshoppingarticles/559/move-over-apple-my-tablet-cost-200/
ReplyDeleteThis article talks about the expense it is to purchase an ipad, and how there are plenty of substitutes for it. In a way ipads are elastic because there are many substitutes like the kindle or the samsung gala tab. But in another way it is inelastic because of the features that it has like apple store or face time. The elasticity depends on the customer and how much they are willing to pay for those extra features.
-cynthia inchaurregui
http://money.cnn.com/2011/02/08/autos/nhtsa_nasa_toyota_final_report/index.htm?hpt=T2
ReplyDeletein this article i read about how toyota had to stop producing a certain car because of the problems it was giving their owners. and even thought some of the costumers got a car back, they didnt want the one the owned before because of the problems. in that case it cause problems for the demands of this model, because now it was brand new and havieng problems, now people dont wont to buy it.
http://omg.yahoo.com/blogs/now/justin-bieber-surpasses-michael-jackson-at-the-movies/55/?nc
ReplyDeleteelasticity,If the superstar passes up the greatest of all time MJ, he is surely to become more broad casted increasing the income from broadcasting, plus since his fans are all young he at min. will be selling two tickets the kid and a parent.which would be on high demand so the supply would increase and the revenue would be high; the selling tickets and merchandise would be very inelastic at the beginning b/c if the price went up people would still want his things and the total revenue would increase.
http://www.pcmag.com/article2/0,2817,2380665,00.asp
ReplyDeleteThe sales of the nintendo wii were down in June and that can in part be explained by elasticity. The big three gaming systems; the wii, xbox 360, and ps3, had been around for a while so many
consumers already have at least one of the systems and therefore the other systems, being substitutes, have a higher elasticity because of this.
http://money.msn.com/business-news/article.aspx?feed=AP&date=20110323&id=13203366
ReplyDeleteIn this article it talks about how even though the gas prices in the middle east are rising which is causing an increase in prices in the US the demand for gas in the US is still rising --oakford gross
http://news.yahoo.com/s/ap/oil_prices
ReplyDeletethis article was about the expensive cost of oil barrels, witch in turn raises the prise of gasoline. they are able to determine the price of oil on the current crises in the middle east, seams unfair, but becasue of it they ae able to jack up prises. so not only are innocent people being killed by their own leader, but oil prices are up the roof, and not to mention the conflcit in japan.. its all bad right now
http://finance.yahoo.com/career-work/article/112438/5-industries-on-life-support
ReplyDelete5 Industries on Life Support
This articles describes 5 industries that are slowly disappearing because they are competing in an elastic market that has many alternatives to the products that they produce. And these other competitors seem to be making better products at a cheaper price.
A tornado tore through the Lambert-St Louis airport. They closed down the airport for safety and damage. Looks like the demand for use of the airport is pretty elastic if it took a tornado to close it down. It took a tornado to tear through the building and facilities to close it down.
ReplyDeletehttp://www.bbc.co.uk/news/technology-13169518