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International Baccalaureate: Economics

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  1. Free essay

    Economic Article Commentary - The five biggest supermarkets in the UK are accused of conspiracy with five dairy processors to fix the prices of milk, butter and cheese.

    I think this article is good for just giving general information but if you want to know every b****y detail I wouldn't recommend this article. I think the connection between this article- the lectures Macro Economics & Law- and the literature I have read for the course is that the government is not only intervening through maximum prices and minimum prices, it is also intervening through forbidding any price conspiracy that will harm the consumers. So this is actually an example of government intervention in the UK.

    • Word count: 1673
  2. Economics comment

    As the demand is crippled, the demand line in supply and demand graph shifts to the left. By doing this, the price gets reduced, as a new market equilibrium is made. The area that was hit by the tsunami is an area that consumes a lot of oil as it is an industrial area, not a residential area. The Fukushima power plant was also severely hit by the earthquake. Market equilibrium before accident Demand line shifted to left The article also refers to the new demand for diesel oil has increased in Japan, as people want to invest more in that area, instead of pure oil.

    • Word count: 733
  3. Practice coursework

    As it stops supplying, it shifts the supply and demand graphs completely. In a short term, supply shifts to the left, as it is less. In doing so, for the same amount of oil, the price has gone to a higher figure. By doing that, the shares index of the western countries, such as European countries and the US have dropped, because of the adjustment via disposable income. That happens because of the effects of the shifting of the supply curve. As the price goes higher, the general public have less money to spend on the economy and firms, decreasing the firm's profit, damaging that countries' economy.

    • Word count: 625
  4. Economics Commentary 1

    In previous years Russia has unexpectedly turned of the gas flow into Europe. These gas flow shortages have been caused by international disputes between Russia and other countries in Eastern Europe. Countries in the eastern region will have a more reliable and dependent source in the Nabucco pipeline, so they can depend less on the Russians. Hence forth bringing another company/competitor onto the market making the price elasticity of supply more elastic. The Price elasticity of supply would go from inelastic to elastic.

    • Word count: 675
  5. Economics Commentary

    In this situation Procter & Gamble and Unilever are supposed to be two rival oligopolists. What has happened is that to ensure a high maximum profit the two firms have colluded and charged the same price. This makes them act as a monopoly. This is also known as collusive oligopoly. There are two main types of collusion, tacit collusion and formal collusion. In this case we are looking at a formal collusion. A formal collusion is when the firms openly agree with each other the price they will charge for the product; this is also known as a cartel.

    • Word count: 603
  6. Owen & minor Inc

    aggressive come l'ABP, potrebbero scoraggiare(togliere) i clienti e nutrire i concorrenti. Ci sono ostacoli interni inerenti all'applicazione dell'ABP. Gli ospedali devono rivedere(riordinare) le strutture organizzative per adattarsi al nuovo sistema dell'ABP, inoltre devono ridisporre i dipendenti e riallocare le strutture aumentando la fiducia nel sistema dell'ABP. Inoltre � necessaria una notevole quantit� di investimenti per creare il sistema di EDI. Per superare questi ostacoli bisogna rendere l'ABP regolare(liscio) ma questa � una grande sfida. Per illustrare il metodo di ABP in modo pi� chiaro, dobbiamo usare una matrice dei prezzi basata sul questo metodo.

    • Word count: 3902
  7. IB Economics Article Commentary. Effects of the Ban of Plastic bags in California.

    This produces allocative efficiency.). However when resources are not used in the best possible option Market Failure arises (A situation in which the market does not allocate resources to their highest valued use (absence of allocative efficiency)). This sometimes occurs when there are external effects in some transaction of goods, which affects the third party (People who are not directly involved in a given economic transaction. Third parties are affected when there are externalities.) negatively or positively. Environmentalists and some governors in California would agree that Plastic bags are cheap and effective when carrying small amount of goods but they

    • Word count: 724
  8. Evaluate the view that greater economic efficiency (allocative and productive efficiency) will always be achieved in perfect competition compared to monopoly.

    = minimum average total cost (min ATC). Figure 1: Perfectly Competitive Firm Figure 2: Monopoly at long-run equilibrium: at long-run equilibrium: Pe = min ATC (Productive Efficiency) Pe = min ATC (Productive Efficiency) Pe = MC (Allocative Efficiency) Pe = MC (Allocative Efficiency) Figure 1 shows the long-run equilibrium of a perfectly competitive firm. The diagram clearly shows that a perfectly competitive firm achieves economic efficiency (productive and allocative efficiency) in the long run. At the profit- maximizing level of output Qpe, price (Pe) is equal to marginal cost (MC), and therefore society's scarce resources are being allocated efficiently.

    • Word count: 610
  9. Macro Economics Notes

    Expenditure Method This is calculated by adding up all the goods and services sold in a country and is divided into consumer expenditure ( C ), public expenditure (G), Fixed Capital formulation / Investment (I). You then add this figure to exports (X) and take away imports (M). You then take off sales taxes and add on subsidies so that you are measuring the real value of goods and services in the country. To get Gross Domestic Expenditure. Income method This is calculated by adding up all the rewards from each of the factors of production i.e Income from employment (labour), profit (entrepeneurship), interest received (capital)

    • Word count: 3633
  10. Microsoft's New Marketing Strategy for the Kinect System

    This clearly shows an example of economic benefit brought-on by subsequent enhancement rather than simply a new invention. Craig Mundie, Microsoft's chief research and strategy officer put simply: "As breakthrough technologies like these reach scale, the resulting creativity and invention will open up a whole new world of possibilities for computing". What he means is that with the up-coming spring release of their 'software development kit' they have found a way to release yet another product to consumers. This product (since it is a tool to make even more products)

    • Word count: 680
  11. Mutual Funds vs ETFs

    It is the combination of index fund and close ended fund. Exchange trade system is more efficient than mutual fund system because it is easy to trade on fewer expanses and trade does not have time limits, buying and selling can be performed in same day. "ETFs have very low expense ratios, are traded intraday and are purchased from the secondary market through a broker who receives a commission". (Rogers 108) History The idea of joint or combined investment is centuries old even when there was no concept of currency. This fashion of mutual investment was started by the merchants particularly in Europe.

    • Word count: 3824
  12. Macro Economics Commentar

    A subsidy is defined as "an amount of money paid by the government to a firm per unit of output" There are many reasons why India may be choosing to implement these demand-side policies. However the primary objective is to bring down the price on essential items such as food and energy, which are on the rise. The Indian Government expects that the subsidies will relieve firms of the pressures of rising commodity prices. Figure 1: As we see in Figure 1, the government spending will increase output to Q2 and reduce the price to P2.

    • Word count: 754
  13. Human Research Management - Southwest Airlines

    In return, their culture (influenced by their managerial philosophy, vision and type of organization) motivates people to ensure the Company's success. SWA has a soft HR management strategy approach - employees are the most valuable Company's asset and its competitive edge (metaphorically, the "heartbeat" of business functioning). The fundamental business strategy of SWA and the spirit of their people have never been changed throughout the years. SWA' business strategy is defined by low cost leadership (low fares, low labour costs, fuel efficiency, controlled maintenance costs, low commissions, competitive supplies, economies of scale, ...), but by service excellence and customer loyalty too, as well as by employees' flexibility, supported and implemented through corresponding HR policy and practice.

    • Word count: 2452
  14. Strategic Business Management - Cadbury

    His original focus was on the trade of tea and coffee in United Kingdom, but soon he spotted a new opportunity in cocoa beverages and laid the foundations for Cadbury's move into chocolate and then confectionery. Today, it's brands include many global, regional and local favourites including Cadbury Dairy Milk, Flake, Cr�me Egg and Green & Black's in chocolate; Trident, Dentyne, Hollywood and Bubbaloo in gum; and Halls, Cadbury �clairs, Bassett's and The Natural Confectionery Co. in candy. Cadbury invest in its most advantaged brands which today generate approximately half our total revenues and have significantly higher profitability than the confectionary portfolio as a whole.

    • Word count: 1986
  15. CourseWork3- Inflation and Intrest Rates

    The diagram below shows us quite clearly how the Demand Pull Inflation works. Demand Pull Inflation, as the name itself suggests is caused by an excessive demand in the market.This demand results in an increase in average prices and also real output. Cost Push Inflation is caused due to an increase in cost of production. An increase in costs lead to a fall short run aggregate supply from SRAS 1 to SRAS 2 reflecting increase of prices. The author mentions the effects of inflation in the economy and the rising prices of consumer goods in the Indian Economy- "India's inflation rate jumped to 8.4 per cent in December as prices climbed for fruit, vegetables, manufactured goods and fuel."

    • Word count: 774
  16. Why might an increase in real GDP not accurately reflect a real increase in living standards?

    and net exports (X - M). Y = FCE + GCF (X-M) In this essay, I will examine the function of the GDP, of which its aims will be focused on, and then I will proceed to weigh the incompetence of the GDP in truly reflecting the socio-economic areas of society. It will be argued that the focus of today's debate, the relationship between the GDP and living standards in society is reflective upon the idea of growth vs. development. Where they are conceptually different, growth is GDP and is quantifiable, as a monetary output value; however, development is qualitative and cannot be equated with the GDP.

    • Word count: 1098
  17. The quality of China's GDP

    The fundamental problem calculating GDP is the price is right, wrong price can not figure out the correct GDP; when the planned economy all wrong, it is not possible to calculate the planned economy GDP. For example the Soviet-era money can not be freely traded commodity, and the money does not reflect the prices of commodities; when the Soviet reformed, all of a sudden drastic devaluation of deposits of residents, the residents of the great loss. The basic reason is that money can not measure the value that can not be a free exchange of money, its true value is far less than face value.

    • Word count: 802
  18. Japan experiencing economic downturn IB coursework

    for Keynes the increase for AD would have no effect on prices because even in the long term an economy will have unutilized resources. The neoclassical perspective is different and takes the view that any increases in government spending and Aggregate demand in the economy will only lead to price rises in the long term. In the diagram below we can see the effect of an increase in AD from AD to AD1. This results in a short term increase in output to Y1.

    • Word count: 739
  19. Old IB Questions

    The perfectly competitive industry is economically efficient because the sum of consumer and producer surplus is maximum. In monopoly, this condition no longer holds, and the industry is therefore inefficient. This can be seen in the graph above. In panel (a), triangle A represents consumer surplus, while triangle B is producer surplus. Panel (b) shows the inefficiencies that result in monopoly. Note the following: * Triangle C, representing surplus in monopoly, is smaller than triangle A in perfect competition. There are two reasons for this. One is that the higher price of the monopolist (Pm rather than Ppc)

    • Word count: 4081
  20. China Inflation and GDP Growth

    Asia's Week Ahead: China inflation This week in Asia, China announces inflation and economic growth figures, and Australian mining giants release quarterly reports. MarketWatch's Chris Oliver reports. Such an inflation rate, Yao said, would be below the average annual CPI gain of 5.6% during the last 30 years. He added that inflation of 3% to 5% was normal for China, and largely insignificant so long as the overall economy continued to expand by around 10% a year. Still, Yao's comments seemed to indicate China's outlook was similar to those of other BRIC economies - which include Brazil, Russia and India - as they too face headwinds from higher inflation and easing growth rates in the years ahead.

    • Word count: 1237
  21. Unemployment IA

    It was the first drop in the unemployment rate since it dipped to 7.95 percent in second quarter of 2007, its lowest level since the country returned to democracy following the death of dictator Francisco Franco in 1975. The institute will publish fourth quarter unemployment figures on Jan. 28. Last month Zapatero's Socialist government announced it was scrapping a 426-euro ($568) per month subsidy for the long-term unemployed as part of austerity measures to slash the public deficit and ease fears that it will need an E.U.

    • Word count: 1067
  22. Korean War

    1.0 �C) * Amper�metro (? 0.001V) * Placa de Hierro * Caimanes * Hielos * Placa de Aluminio * Placa de Cobre * Placa de Plomo * Bata de Laboratorio * Guantes Aislantes * Bandeja Met�lica * Pinzas Medidas de Seguridad Guantes Aislantes: Para evitar alg�n tipo de quemaduras en la manipulaci�n de los metales calentados. Bata de Laboratorio: Indispensable en cualquier trabajo pr�ctico de tal forma que se eviten accidentes a la persona del investigador. Manejo Responsable de la Corriente: Utilizar voltajes bajos para evitar alg�n tipo de descarga el�ctrica y da�os f�sicos.

    • Word count: 1304
  23. Has the Time Come to Legalize Drugs?

    The left-of-center Party of the Democratic Revolution announced that it supports ``de facto legalization'' of drugs. Fox's statement, first published Saturday in his blog, went far beyond a 2009 joint declaration by former Presidents Fernando Henrique Cardoso of Brazil, Ernesto Zedillo of Mexico and Cesar Gaviria of Colombia. In that statement, the three former leaders questioned the effectiveness of the U.S. war on drugs and proposed de-criminalizing possession of marijuana for personal use. While the three centrist former presidents' proposal amounted to not prosecuting people for consuming marijuana, Fox's proposal calls for legalization of all major drugs -- the whole enchilada.

    • Word count: 1500
  24. Transitional Economic Report on Slovakia

    This usually have a long-term impact on the economy of a country. The outcome could be national debt, huge inefficiency and an overall stagnation of the economy. These kind governments were in power in 1994 - 1998 and 2006- 2010. The second one, is a type of government rule associated with neo-classical free market reforms, such as having an open economy and being friendly to foreign investors, flat tax, privatization and improve business environment.

    • Word count: 611
  25. Fair Trade

    History As mentioned before the Malaysian people were subject to foreign colonization during the late 18th and 19th centuries. It was dominantly Great Britain that established colonies and protectorates in the area of present day Malaysia in their constant strive to cement their reputable status as a world power. These colonies were subsequently occupied by Japan from 1942 to 1945 during the Second World War, only to be retained by Britain after Allied liberation in the closing stages of WWII. Following this the British-ruled territories on the Malay Peninsula formed the Federation of Malaya, and became independent in 1957.

    • Word count: 3411

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