Seminar Reflection 2-since my first one got deleted

last week our class held a seminar, where we discussed whether capitolism is to flawed to function. I learned bout some key definitions like the public good and also bout ideas such as creative capitolism. While studying my articles I learned about how capitolism adds a disadvantage to poor people who can’t afford to participate [...]

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Section 2 Reflection

After unit 2 I feel i have a pretty good grasp on elasticity. I got a low 7 on my essay, which i feel will improve as I have more practice over the next year and a half. I only prepared an outline, so maybe writing a complete essay to study could improve my scores, [...]

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China????

Contrary to common belief, products made in china are not only much cheaper than western-made goods; they are of higher quality. It’s amazing to me to think that china really has all their bases covered. Why trade with china? Because there are no trade offs. Less money spent for more quality; any businessman’s dream. Not [...]

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Plastic Baggage

By putting a tax on plastic bags, the Irish government quickly and effectively solved a pollution problem. they did not offend anyone, because they                                        didnt remove the choice. they did not hurt the economy, because the [...]

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Oprah’s Supply

Oprah is one of the richest women in the world for a reason. There’s only one of her. No matter how high demand get, she can only supple herself, therefore here supple curve is inelastic. When demand rises, so does her income. Consequently, her income will drastically fall with her popularity. Celebrities and athletes are [...]

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Tummy Tuck Genius

By having a niche market that includes buyers less affected by the recession, NYDJ has been growing instead of down sizing in the economy. The market, middle-aged women, did not partcipate the the morgage failure becuase their children were leaving, and are finacially stable from years of work and saving. Not only are they able [...]

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Bread Wars

Hovis made it’s fatal mistake long before the finacial crisis. It all started when they were the first to raise bread prices. The quantity demanded fot their product inevitablied dropped because of it’s elasticity. Other compainies had lower prices for the same product, and so consumers used substitutes. Decrease in the quantity in demand due [...]

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JAL Advice

JAL is stuck on its service and in return has upped it prices to continue it, but with so many domestic flights, service doesnt have near the importance of price. A few hours of flight doesnt need to to have incredibel service, it needs to be affordable and needs to get the passenger to their [...]

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BA vrs. Ryanair

a.) Elasticity is how much the quantity demand is affected by price. The European Air travel is a curved line where higher prices are inelastic and lower prices are elastic. b.) BA has focused on the inelastic higher prices, raising the price to increase revenue with little decrease in demand. Ryan air, on the other [...]

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Irrationality

It is amazing how irrational people have become with their spending. It seems Americans just want the bigger and better, investing in houses they couldnt really afford, growing in debt. It was really no surprise the economy turned around and bit its abusers, causeign the economic downtunr. I also find it interesting that while the [...]

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