Elasticity Article Reviews Samples For Students

Article Review: Elasticity

Elasticity refers to the degree in which supply or demand curves reacts to fluctuations in prices. Elasticity displays differences in commodities as some are more essential to consumers than others. Necessities are more unresponsive to alterations in prices owing to the fact that people will continue to purchase them no matter the changes in prices. Contrariwise, a price increase in a less necessary good or service deters more consumers hence lesser demand since the opportunity cost of buying that product becomes high. Slight changes in prices of highly elastic products cause a sharp change in the demand and supply of the commodity. ...

1. Demand and Supply

Pepitone reported that coffee futures had dropped due to favorable coffee-growing weather conditions (n.p.). Coffee lovers now enjoy 1.6%-6.0% cut prices on several popular brands including Maxwell House, Smucker, Folgers and Millstone. Interestingly, the prices for coffee products had increased for 10-20% several months ago. Smucker had increased prices for its coffee products for 10% in February and then an increase of 10% followed in May. Starbucks had upped the price for 17% for the package of coffee in the U.S. retail stores. In accordance with Wall Street Journal, key coffee producers were having the largest harvest of ...

Economics is the study of how human beings use the scarce resources in the environment to satisfy their unlimited wants. Various economies in the world have been analyzed by financial and economic analysts who have the knowledge in economics. Some of the analysis has been put into writing in articles as well as journals. This has been important in evaluating the causes and impacts of the changes in economic activities in the world. “American Trends in Oil: Less of a Menace from Oil” is one of the articles analyzing the economic activities in the United States of America.

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Business proposal checklist

Amy.
Amy, in her business proposal, describes a company called Will Bury that has patented a technology that would convert the printed word to a digital file for consumption by readers or listeners. Therefore, from her explanation Amy was able to identify the market structure for her proposed business proposal. She was also able to make assumptions about the market structure and elasticity as Amy details the companies already in existence within the same e-books market. She also explains how the business is established, and the competition it faces since alternatives are provided by its competitors and would have a negative impact ...

Article summary

The article title is “Microeconomics: Factors of Consumer Decision-Making” by Marc Davis. The article focuses on the choices consumer make before deciding on buying a product or service. Most economists agree that price is the major factor that affects consumer’s decision-making process, but Davis argues that price might not be the only deciding factor. In addition, economics argue that all factors remaining constant, the price of a product is inversely proportional to its demand. Davis focused on the opportunity cost and elasticity as other factors that influence consumer choice and demand for goods or services. Price changes, and demand for a ...