Supply and Demand Extensions by Robert Haag https://padlet.com/rhaag026/vsns1foh5xsa Made with an open mind en-us 2016-10-11 12:24:39 UTC 2017-05-17 07:50:52 UTC hello@padlet.com Art Meets Economics https://padlet.com/rhaag026/vsns1foh5xsa/wish/130021545 The Pricing strategy of Peter Luk creates the illusion of scarcity for his "art" that has no apparent market value. Buyers (un-art educated, un-economics educated) are fooled into being willing to pay a much higher price for the final few prints than was paid for the first several prints sold. However, prints aren't becoming more scarce, the quantity supplied remained constant. 

There really shouldn't be an increase in price as the quantity supplied remains the same. The illusion of scarcity is what's increasing demand as more pieces are sold. Luk has therefore flipped the usual common ideal that the more products you sell the lower your price should be.



(extra resource: https://news.artnet.com/market/new-york-times-exposes-peter-lik-photography-scheme-264858) 

He's making his prices increase because his work is become more rare. 


 
]]> 2016-10-12 04:04:47 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130021545 Problem with price controls in Europe's agricultural market. https://padlet.com/rhaag026/vsns1foh5xsa/wish/130021595 The situation in the European butter market can be attributed to an underestimate by policy makers of the responsiveness of butter producers to the price controls established under the CAP. The Common Agricultural Policy (CAP) is the agricultural policy of the European Union. It implements a system of agricultural subsidies and other programmes.]]> 2016-10-12 04:05:21 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130021595 rhaag026 https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022230 SIGN  YOUR WORK:  THIS IS MR. HAAG!

OK - HERE IS WHERE YOU SHOW WHAT YOU ARE LEARNING:
1. WHAT IS YOUR ARTICLE ABOUT?
2. WHAT ADDITIONAL RESEARCH DID YOU DO?  LIST SOURCES!

EXAMPLE:  BIKE MESSENGER STORY - AFTER READING THE BLOG POSTS, WHAT WOULD YOU POST?  HOW ABOUT ASSUMING MULTIPLE ROLES AND POSTING?

PRICE CONTROLS IN EUROPE - WHAT WLL BE THE  THE IMPACT OF BREXIT ON AGRICULTURE IN EUROPE?

COULD YOU TIE CURRENT THINKING ABOUT GLUTEN DEMAND FOR WHEAT IN PASTA???]]> 2016-10-12 04:14:48 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022230 Problem with price control in Europe's agricultural Market  https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022461 The article talks about  European Union butter Market can be attributed to an underestimate by policy makers of the responsiveness of butter producers to the price controls established under the CAP. 
The European Union’s Common Agricultural Policy (CAP) involves a complex system of subsidies, import and export controls and price controls, the objective of which is to ensure a fair standard of living for Europe’s agricultural community.


]]> 2016-10-12 04:18:11 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022461 Chinas Demand on Coal in america halfuttaim2018 https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022484 China is the worlds largest coal consumer, demanded increasing quantities from its own coal producers, but also those in other coal rich areas like Australia and the United States.

because of America’s lack of coal transporting and shipping infastructure, US coal producers have been unable to sell their abundant coal to the Chinese.

]]> 2016-10-12 04:18:41 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022484 How to have your pasta & eat it too https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022555 The article talks about how there had been a shift of the demand curve to the left due to a loss of millions of crops due to heavy rain in North Dakota in 2011. The article states that prices are determined by the relative scarcity of the good. Therefore as there had been a big loss of wheat in 2011, there has been scarcity caused to some extent which has caused the price of the wheat to raise. The price had raised up to the highest of $15 dollars per bushel when compared to before, which was $5.50. This in turn, has caused the prices of the pasta to raise as wheat is a commodity by which pasta is produced. When looked at the graphs of the market for wheat and he market for prices]]> 2016-10-12 04:19:37 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022555 The economic benefits of bike commuting https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022574 In 2011, the gas price in America raised to 4 dollars per gallon which caused many people demand the government “does something” to halt rising fuel costs and start commuting by bike.
The author's opinion towards this phenomena is that the price of the gas shouldn't have such a big impact on the demand of the car commuting. ]]> 2016-10-12 04:20:04 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022574 Garlic prices increase in China  hsoofi2018 https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022869 The garlic prices in China has increased by 15 folds(very big increase). 

This is because of the 2009 swine flu that affected the the whole world specially China. In China the price for garlic in 2008 was very low and because of that many suppliers of garlic cut production. Garlic was considered to have many medical benefits therefore when the swine flu hit China the demand increased very rapidly and due to low supply it caused a disequilibrium.

The supply further decreased because of speculation. Speculation is When the price of a setter
good is predicted to increase in the future . Because of this speculators ]]> 2016-10-12 04:25:15 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022869 How to have your pasta and eat it too  https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022872 This article handles the matter of setting prices, increasing them or decreasing them based on the relative scarcity of a good, and how this affects the demand in the market. In specific, the situation here is the increase of the prices of wheat due to heavy rain flooding in North Dakota, which produces 3/4 of the nation's supply. ]]> 2016-10-12 04:25:19 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022872 The Economic benefits of bike commuting https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022918 In February 26 of 2011, gas prices increased by 17 cents a gallon. which occurred due to the sharp rise in crude oil prices. According to the article, the sharp rise occurred due to political unrest in North Africa and Middle East.
source:  http://money.cnn.com/2011/02/26/news/economy/gas_prices/

The article "The Economic benefits of bike commuting" posted by John Welker in March of 2011, discusses about the increase demand for bicycles,  due to the increase in gas prices. 

He encourages readers to hop onto a bicycle as soon as possible through facts]]> 2016-10-12 04:26:04 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022918 The economic benefits of bike commuting  https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022969 This article talks about the US population's response due to the increase of gas price ]]> 2016-10-12 04:27:00 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130022969 Babies Market https://padlet.com/rhaag026/vsns1foh5xsa/wish/130023033 This article focuses on a specific group of people within the society. They are rich parents who live across Europe and Asia. These parents have decided against having babies. This have caused fertility rates to decrease. The reason is because parents who have a job find it difficult to raise a child, since it very expensive. The supply and demand proves this since it shows the fertility rates declining. But parents are willing to have one to two children if the return is higher than the cost. " benefits of having babies exceeds the explicit and implicit cost of child rearing".

The disadvantages of having lower fertile rates is higher than advantges, resulting to having many consequences. ]]> 2016-10-12 04:27:51 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130023033 https://padlet.com/rhaag026/vsns1foh5xsa/wish/130023248 2016-10-12 04:32:03 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130023248 Baby Market https://padlet.com/rhaag026/vsns1foh5xsa/wish/130023473 The article discusses how the marginal social and private costs affect the fertility rate in several countries. These costs have mostly caused lower fertility rates which are either beneficial or disadvantageous to parents income. The costs of having children are relatively high and all revolve around the parents income because they'd have to be in a good financial state to then raise their children. ]]> 2016-10-12 04:35:07 UTC https://padlet.com/rhaag026/vsns1foh5xsa/wish/130023473