Hurricane Katrin Demand In The Movie Forest Gump

Improved Essays
Before the oil spill came Hurricane Katrina. Much like the movie Forest Gump, the aftermath of Hurricane Katrina saw that many fisheries were destroyed and although there was more than one boat left it did have a major impact on the shrimp industry in Louisiana. Because the supply went down for shrimp in the area the demand went up. This caused a higher price and higher equilibrium intersection although it would not be as high as one might think. Demand is interesting in this case because one of the factors that control demand is the income of consumers going up or down. Because many consumers took a major financial hit the demand actually did not change in such drastic fashion because shrimp may be a big part of the culture, but in reality

Related Documents

  • Improved Essays

    Journal Entry 2 – Economics – By Kyra Cameron This article by Ian Austen is about explaining the damages caused by the fires in Fort McMurray, Alberta to the Oil Sands industry, leading to a negative effect on the Canadian Economy. During the fires in Fort McMurray many oil companies slowed down or stopped pumping oil and production stopped by approximately 1 million barrels a day. With oil being a major industry in Alberta, overall output dropped by about 40 percent due to the decrease in production. Not only is Canada at a loss for production, but the government is expected to pay for 90% of the repairs in the oil industry caused by the damages of the fire.…

    • 465 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Deadly Hurricane Dbq

    • 344 Words
    • 2 Pages

    In September 1938, one America’s most deadly hurricanes raced through New England. There were a couple of conditions that made the Hurricane of ‘38 so severe. Like the weather of the New England, and the 20ft storm surge. These conditions made the hurricane much more damaging. Some of the damage sustained from the hurricane would include “entire communities wiped off the face of the Earth.”…

    • 344 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    John Carter: Hurricane

    • 492 Words
    • 2 Pages

    John Carter, also Known as Hurricane, was convicted of triple homicide, with his friend John Artis. He was a middleweight boxer, with many outstanding records. Carter had a really bad childhood in very bad places. He died from a really powerful disease that still kills people now days, Prostate Cancer.…

    • 492 Words
    • 2 Pages
    Improved Essays
  • Great Essays

    9/11: A Case Study

    • 2106 Words
    • 9 Pages

    significant amount of people were too scared to even go on a vacation somewhere out of fear that if they went to a heavily populated city that they may become some of the next victims of terrorist attacks. Following the tragedy of 9/11, some pilots felt, “compelled to carry a weapon at work as a way to regain power, prestige, and a sense of security and control” because they were having difficulty reconciling, “fear, guilt, anxiety, and overwhelming sense of responsibility for elements outside of their control” (Fraher 2014). This provides another example of how the fear caused by 9/11 had deep and reaching effects on both the nation and its economy. Although it was largely an indirect effect caused by the hit to transportation industries, such as airlines, freight trains, etc., the shipping industry also suffered as a direct result of 9/11.…

    • 2106 Words
    • 9 Pages
    Great Essays
  • Improved Essays

    John D. Rockefeller was considered one of the first major philanthropists and entrepreneurs of the United States. He created the Standard Oil Company and from then, he revolutionized refinery production. It is important to analyze and study the methods he used and the period of time he used them in. The time period plays a major role because there was no industries being established around 1865 and yet Rockefeller managed to gain about ninety percent of the nations capacity of the refinery industry.…

    • 539 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    This caused an increase in inventions to supply the consumers with the products that they wanted. This process kept spiraling with supply affecting demand and demand affecting supply and the whole time both supply and demand increasing dramatically. In the beginning people would mostly just buy things that they needed. They wouldn’t waste their money on something that would not be useful to them. But eventually, with the increase in supply, people started to buy things that they did not necessarily need.…

    • 664 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Hurricane Response Paper

    • 534 Words
    • 3 Pages

    During this week’s readings, you will learn about human response to hazards, disasters, emergencies, or catastrophes. For this assignment, discuss how you think you would respond to a hurricane, a terrorist incident, and a home fire. How are your natural responses similar or different from the guidelines provided in the text? Why do you think these similarities and differences occur?…

    • 534 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    “I just need you to believe me.” Daniel Fights a Hurricane and Take Shelter illustrate the story of two hypersensitive men, Daniel and Curtis, who constantly have visions and difficulty distinguishing between reality and imagination. While Daniel’s experience is elaborated by Shane Jones from three perspectives - the first person perspective (“I”), the third person perspective(“he”) and Daniel’s wife Karen’s perspective, Curtis’s is illustrated by Jeff Nichols from just the first person perspective where the audience is taken through his traumatic nightmares and visions. Despite that, both works seem to focus on the two men’s capability of premonition rather than their mental illnesses and one surely can find differences as well as parallel between the two characters.…

    • 1076 Words
    • 5 Pages
    Improved Essays
  • Decent Essays

    Hurricane Harvey’s impact on Houston. Hurricane Harvey had an environmentally, economic, political, and social impact on Houston as well as the State of Texas. Economically, oil refineries were forced to shut down. This stopped the distribution of gasoline and other petroleum products.…

    • 207 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    Danny Glover once stated, “When Hurricane Katrina struck the Gulf and the floodwaters rose and tore through New Orleans, it did not turn the region into a Third World country…it revealed one” (Glover). In the wake of this darkness, Hurricane Katrina proved to America that as a nation, there was no way to prepare for a disaster of this size. As the winds raged on and the waters crashed against the coast, ultimately drowning out around 80% of the state, Hurricane Katrina proved to be more than just a category five hurricane, proving to be historical, holding a position of the third deadliest hurricane that has affected the United States of America. Three reasons Hurricane Katrina proved unpreparedness were; The New Orleans levee system was…

    • 697 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Hurricane Katrina caused severe flooding in 2005 had a major change of the demographic landscape of New Orleans. New Orleans city has been a shrinking city for the last half or the century but the growing suburbs balanced the population loss until 2005. Hurricane Katrina has caused the city to shrink at a faster rate. After five years of Hurricane Katrina, New Orleans has showed the ability to recover from the storm even though the hurricane Katrina has raised the decline of the population. A thorough examination of the data would give us information that Katrina has caused a major change in the city’s landscape.…

    • 105 Words
    • 1 Pages
    Improved Essays
  • Decent Essays

    Many different stakeholders were economically affected as a result of the spill, both directly and indirectly. Fisherman in the area, as well as hotels, restaurants, and other businesses tied to tourism, felt the most immediate effect. Days after the wellhead explosion, federal and state governments began closing fishing grounds, as well as some of the Gulf’s richest fishing grounds for species such as shrimp, menhaden and oysters. The commercial production of fish reduced by 20% due to fishery closures. In total, the Gulf of Mexico commercial fishing industry was estimated to have lost $247 million due to the post spill fishing closures (Cleveland and Saundry, 2015).…

    • 227 Words
    • 1 Pages
    Decent Essays
  • Decent Essays

    Inflation In 1970

    • 214 Words
    • 1 Pages

    Due to the prices of products going up, the demand for them went down, with…

    • 214 Words
    • 1 Pages
    Decent Essays
  • Improved Essays

    Due to the oversupply of oil in the recent years, the OPEC, also know as the Organization of Petroleum Exporting Countries, who are in charge of overseeing the world’s oil exports, have reduced supply of oil, to stabilise the costs of oil globally. This leads to increased prices of oil due to the increased demand, causing transport and shipping costs to surge. This surge in price would also reflect in the prices of food as food is shipped around globally, thus imported and exported prices around the world would increase. Thirdly, there is a shortage of farmers globally.…

    • 705 Words
    • 3 Pages
    Improved Essays
  • Great Essays

    Over the next several years, consumer spending and investments dropped, causing major declines in industrial output and rising levels of unemployment as companies were going out of business and had to…

    • 1222 Words
    • 5 Pages
    Great Essays