So I was shopping with my mom this weekend and I was craving grapefruits. (they are my favorite fruit ya know!) SO I went to buy the grapefuit fruit cups things and they were only 6 dollars for 10 cups! This was way lower then when I bought the same cups in the fall and early winter! They were not on sale or anything... the price was just way lower. So I bought 2 boxes (and ate all 20 cups already). I was thinking about why they were so much cheaper now... thinking maybe they were old, or flawed. So I was bored and looked this up... "The season for grapefruit depends on where the grapefruits are growing. In Arizona and California, the peak season is January to June, but in Florida and Texas, the season is October to June." (http://www.seasonalrecipes.com/season/grapefruit.php) This is prime time for grapefruit! So heres what I concluded... Fresh grapefuit and grapefruit cups are substitute goods. And since the Demand for fresh grapefruit has risen as it is in season and tastes the most delicious... demand for the cups of processed grapefruits has dropped... thus lowering the price.
The End
Monday, March 31, 2008
Friday, March 7, 2008
NEW CAR!!!!
SO my parents and i were looking at cars for me to take to college, specifically a toyota corolla. We were looking at the 06's but the dealer said that there is a 1000 dollar rebate on new 08's which would make it almost cheaper to buy a brand spanking new car!!! I saw an 08 that i like and he said that there wasnt a rebate on it cause it wasnt a NEW 08. i didnt understand what the difference was that a slightly used one didnt get 1000 off but the new ones did, but they were almost the same starting. he explained this....
THe new 09s are coming out so they want to get ride of the 08's because someone in the market for a new car would want and 09 and not and 08. but if someone was in the market for a used car.. they would want a used 08 instead of a new one... so pretty much the used car loookers want not new... and the new car owners want new 09... so to highten the demand for the new 08's to get them off the lot... they give rebates for them... which is fine with me... ill take 1000 dollars off a new car!!
THe new 09s are coming out so they want to get ride of the 08's because someone in the market for a new car would want and 09 and not and 08. but if someone was in the market for a used car.. they would want a used 08 instead of a new one... so pretty much the used car loookers want not new... and the new car owners want new 09... so to highten the demand for the new 08's to get them off the lot... they give rebates for them... which is fine with me... ill take 1000 dollars off a new car!!
Sunday, February 24, 2008
Beef Recall
http://abcnews.go.com/GMA/story?id=3673585&page=1
This is an article on the recent beef recall. The recall includes 21.7 million pounds of meat, "enough to make a McDonald's regular hamburger for every adult in America." The recall started in August, but has been expanded over 600 times to widen the range of affected beef.
This obviously has a huge effect on the economy. Demand has dropped and supply is close to follow.
The main determinent of demand affected would be consumer tastes. Personal tastes are directly changed due to the recall. '"You don't know what's in it," one concerned shopper said. "It makes me feel very scared, and I don't know what to eat."' People will be skeptical of buying beef, even if it is unaffected, due to the danger assiociated with some.
Supply will be greatly affected because the government is investigating several beef farms supplying the sick cows. If these farms are shut down, there will be less suppliers, causing less supply. Government policy will also change supply as huge amounts of beef are being recalled.
Many people are calling for stricter testing and processing due to the recent rise in ecoli outbreaks in various foods. The USDA has no explanation for the recent rise but they better figure something out soon cause I'm not a big fan of soy burgers.
This is an article on the recent beef recall. The recall includes 21.7 million pounds of meat, "enough to make a McDonald's regular hamburger for every adult in America." The recall started in August, but has been expanded over 600 times to widen the range of affected beef.
This obviously has a huge effect on the economy. Demand has dropped and supply is close to follow.
The main determinent of demand affected would be consumer tastes. Personal tastes are directly changed due to the recall. '"You don't know what's in it," one concerned shopper said. "It makes me feel very scared, and I don't know what to eat."' People will be skeptical of buying beef, even if it is unaffected, due to the danger assiociated with some.
Supply will be greatly affected because the government is investigating several beef farms supplying the sick cows. If these farms are shut down, there will be less suppliers, causing less supply. Government policy will also change supply as huge amounts of beef are being recalled.
Many people are calling for stricter testing and processing due to the recent rise in ecoli outbreaks in various foods. The USDA has no explanation for the recent rise but they better figure something out soon cause I'm not a big fan of soy burgers.
Sunday, February 10, 2008
GDP data
So i was on this website... http://www.bea.gov/national/index.htm#gdp... and it had the data for the Current-Dollar and "Real" Gross Domestic Product from the year 1929 on. http://www.bea.gov/national/xls/gdplev.xls is the excel document in which the data is contained. I thought i was really interesting that the only time we didnt have a rise in GDP was during the great depression. Even with the quarterly estimates of this year the numbers rose. ANother thing i thought was really interesting was the fact that in 1929 the GDP was at
103.6, which was really high compared to the following years of the great depression. Accoring to the data, the united states didnt recover from the crash until 1940 where the GDP was almost where it was in 1929 at 101.4. Another fact that I found interesting is that the data shows both
GDP in billions of current dollars and GDP in billions of chained 2000 dollars, which gives vastly different data for each year. My question to the reader is this... they show the data as such because the value of the has changed over time.... people get paid more and they also pay more for things as Naked Economics points out, but yet what we get paid has increased proportionally faster than the prices... does this show a large amount of "deflation" over time... and if so... what do you think is the cause?? just wondering your thoughts
103.6, which was really high compared to the following years of the great depression. Accoring to the data, the united states didnt recover from the crash until 1940 where the GDP was almost where it was in 1929 at 101.4. Another fact that I found interesting is that the data shows both
GDP in billions of current dollars and GDP in billions of chained 2000 dollars, which gives vastly different data for each year. My question to the reader is this... they show the data as such because the value of the has changed over time.... people get paid more and they also pay more for things as Naked Economics points out, but yet what we get paid has increased proportionally faster than the prices... does this show a large amount of "deflation" over time... and if so... what do you think is the cause?? just wondering your thoughts
Subscribe to:
Posts (Atom)
