Supply and demand

There are pros and cons over implementing carbon tax in some countries since this policy have benefits and drawbacks. According to Baranzini et al. (2000, cited in Lin and Li, 2011), one of the benefits is that carbon tax encourages the polluters (firms and households that contribute the production of carbon dioxide) to substitute the use of fuel products which results in changes of the structure of energy production and consumption. Moreover, it generates energy efficiency; higher tax will…

I think we should be proactive, but it is easier to be reactive. We have had the opportunity to be proactive with things like electric or hybrid vehicles or increasing fuel efficiency, but people still choose to buy big trucks or SUVs and ignore the present and future consequences. They prefer the feeling of safety in a larger vehicle or the way the engine sounds, things you do not normally get with an electric or hybrid vehicle. When the price of gas drops drastically, you may hear that SUV…

In conclusion, we found out that males in our class has better hearing abilities, because according to the graph, the trendline of males is higher than female, which means that the boys can hear the tones in further distance for most of the frequencies. For female, when the frequency is 8000 hz, the average distance is 11.65m, and for males, the average distance is 14.5. When the frequency is 12000 hz, the distance for female is 3.22m, and for male, the average distance is 7.93m. As you can see,…

increasing sales of natural and organic products, why is the popularity of Whole Foods decreasing? This behaviour can potentially be explained with the microscopic concepts in economic including the availability of close substitutes, law of demand and a shift in the demand curve, market elasticity and a free-entry-free exit market. Previously, Whole Foods had a large number of consumers purchasing natural and organic foods in their stores. However, recently other retailers such as Walmart and…

Metaphors have been used to explain the world around us in figure of speech when describing a situation or idea. Some of these metaphors would give rise to idioms that further express our point of view in viewing the world around us. We will be covering five conventional metaphors that include that Ideas are plants, ideas are commodities, understanding is seeing, the eyes are containers for the emotions, and life is a gambling game. Metaphors are a reflection of our world and our culture that…

The definition of Relational Dialectics Theory describes how relational life is described as an ongoing tension between contradictory impulses (199). However, the theory can benefit from economic terms as presented in Social Exchange Theory. Moreover, the theory could develop and explain how cost and rewards affect a relationship based on ongoing tensions. The two theories have similarities staring with their assumptions of rational life. Consequently, Relational Dialectics can use an…

Start-up costs Canine Candy has start up costs which have run from when the idea of Canine Candy first started to when profit is generated by sales. Start up costs include, supplies, equipment, marketing and promotion. Supplies which are all variable costs include peanut butter, flour, baking powder, cellophane, string and paper. Equipment bought includes a dog bone cookie cutter which is a fixed cost. While marketing and promotion is how Canine Candy will be known by the customers not only in…

Yes market share does matter; because a company's market share is a portion of total sales in different regions depending on the market the company operates within. Therefore, if an organization offers $100 million worth of tractors a year locally, and the aggregate tractors sold in the United States are $100 million, the organization's US market share or tractors would be half. Market share also represents the rate of an industry or market's aggregate deals that is earned by a specific company…

Furthermore, higher wages also acts as an incentive to work because the higher the wages the higher the hopes workers have of improving their condition and thus ignites their desire and motivation. Smith writes, “A plentiful subsistence increases the bodily strength of the labourer, and the comfortable hope of bettering his condition, and of ending his days perhaps in ease and plenty, animates him to exert that strength to the utmost.” However, the desire of bettering one’s condition can cause…

The policy group of Office of Secretary Les Singer has decided that we should let the market determine the prices for the gasoline distribution. The policy that we chose would be equitable to everyone (producers and consumers). In this policy, the price would be not too high and people can afford gasoline with the money they have, making the producers satisfied with the prices. This policy would be the best opinion because not only will people afford gasoline but they will be saving money and…