In March of 2024, Bengaluru experienced a huge water shortage; Schools and homes lacked water to flush toilets, RO systems have been turned off leaving the people with bottled alternatives, as well as the postponement of showers and other homely appliances. This problem was caused due to a lack of investments in the existing sewage system and water management, as much of the funding is put towards technological expenditures.

This circumstance has led to approximately 10 million people demanding high amounts of water. The article notes that the shortage has increased costs for residents and businesses, as they must rely on expensive private water suppliers.

I believe an economist would model this situation using the above demand curve. Note, this circumstance is a movement up the demand curve:

The matches featuring teams such as the Royal Challengers Bengaluru (RCB), Chennai Super Kings (CSK), and Mumbai Indians (MI), saw a large fan interest. The prices of said tickets reached an all-time high of 53,938 inr (650 USD).

The IPL Board used the popularity of teams and players to market their tickets to the fanbases. However, as the price of these tickets rose, only fans who were eager to spend the money actually bought the tickets, leading to a decrease in quantity of tickets, and a movement up the demand curve. (Non-price factor: change in taste)

Moreover in India, fuel prices have been rising steadily, which has forced people to look for more affordable options. As a result, demand for electric vehicles in India has increased rapidly. When compared to their fossil fuel alternatives, electric bikes and scooters provide a more cost-effective form of transportation due to their considerably lower operating expenses.

Ocean ranching has led to a significant increase in the supply of pink salmon. Economically, this can affect market prices. An increased supply of pink salmon could lead to lower prices, assuming demand remains constant. This impacts fishermen, seafood companies, and consumers. Changes in the ecosystem could affect other fisheries or have broader ecological consequences that might ultimately influence economic outcomes for various stakeholders.

This summer, the Paris Olympics was held in France. Lots of people from other countries visited France to watch the Olympics in the scene, and this means that people who visit France will demand hotel, food, and souvenir much more than before. This increased population in France will have more demands. As a result, the demand curve will make a right shift.

Moreover, due to foreign visitors to the concert, the prices of hotels and flights to Ahmedabad have also increased.

The Philadelphia Eagles are one of the few teams that are experiencing the opposite effect, with prices for their upcoming playoff wild-card home game being 58% higher than the last time they hosted a wild-card game.

The increased price can be explained by the high demand for tickets amongst Eagles fans, as there are numerous reason fans want to attend these playoff games over regular season games or playoff games in previous years. Namely, the Eagles are a strong candidate to win it all this year, meaning that fans would want to attend games to be able to witness their team win, show team spirit, and not miss out on a once-in-a-lifetime experience.

The IEA Oil Market Report from November 2024 talks about what’s going on in the global oil market, covering everything from how much oil is being used to how much is being produced and where it’s all going.

Oil use around the world is expected to go up by about 920,000 barrels a day (kb/d) in 2024, reaching 102.8 million mb/d. It’ll grow by almost 1 million barrels a day in 2025. But the growth is way slower than last year because the big post-pandemic rush for oil is pretty much over, and the global economy isn’t doing as well. Plus, more people are using clean energy, which is cutting down on oil use in things like transportation and power generation.

The world’s oil supply grew by 290,000 barrels per day in October 2024, hitting 102.9 mb/d, thanks to Libya bringing more oil back online. But OPEC+ (the big oil-producing countries) pushed back their plan to raise oil production until January 2025. Countries outside of OPEC+ (like the U.S., Canada, and some in Latin America) are expected to increase oil production by 1.5 million barrels a day in 2024 and 2025.

Oil refining was more profitable in October because of some planned maintenance and fewer runs. Refineries are expected to process 82.8 mb/d of oil in 2024, with a small increase in 2025. The biggest increases will happen in countries like the U.S. and other non-OECD nations.

Global oil inventories (basically, the oil just sitting around in storage) dropped by 47.5 million barrels in September, hitting their lowest level since January. A lot of the decrease was in oil products in OECD countries and crude oil in non-OECD countries. Stocks are expected to keep falling in October.

Oil prices went up a little in October, hitting $80.90 per barrel at the start of the month, mainly because of tensions in the Middle East. But they dropped back to around $73 by the end of the month. Speculative trading (where investors bet on prices) is still at a low point, which is kind of odd.

The world isn’t using as much oil as it did right after the pandemic because the economy isn’t growing as fast, and people are using more renewable energy. But there’s still plenty of oil being pumped out, especially from countries like the U.S. and Brazil. Even though things are more stable now, there are still worries about things like geopolitical issues and unexpected supply problems that could mess with the market.

In short, oil demand is growing, but not as fast as it was a couple of years ago, and oil supply is pretty healthy, with OPEC+ trying to make sure everything stays balanced.

my comments: The increase in passenger demand reflects a strong recovery in the travel sector post-pandemic, indicating that consumers are eager to travel again.

1. It's concerning that airlines are facing supply chain issues that prevent them from expanding capacity to meet this demand—this could lead to higher prices and reduced service quality.

2. The simultaneous rise in air cargo demand suggests that global trade is also recovering, which is a positive sign for the economy as a whole.

3. The 8.1% increase in global passenger demand is a strong indicator that the travel industry is rebounding robustly. This trend not only reflects consumer confidence but also suggests a potential for sustained growth in the aviation sector.

4. It's noteworthy that international travel demand surged by 11.6%. This could imply a shift in consumer preferences towards international destinations as travel restrictions continue to ease.

5. The record load factor of 83.4% signifies that airlines are efficiently filling their seats, which is crucial for profitability. However, this also raises questions about how airlines will manage capacity constraints moving forward.

6. IATA's call for aerospace manufacturers to address supply chain issues highlights a critical challenge that could hinder future growth if not resolved quickly. It’s essential for the industry to adapt and innovate to meet rising demand.

7. The contrasting growth rates in domestic versus international travel suggest that while recovery is underway, it may be uneven across different markets, necessitating tailored strategies by airlines.

In 2025, health care jobs are experiencing high demand in the US, driven by an aging population, retirements among workers and low risk of A.I. replacement. One of the top-paying roles in the sector is a physician, with salaries reaching up to $385,000 annually. The demand spans various fields, from nursing to specialized medical professionals, as the industry works to address growing health care needs. The surge in opportunities is also attributed to advancements in telemedicine and technology, which are expanding the scope of available jobs and services.