Sales of dry shampoo have rocketed in the past year. Sales have risen by 140% year on year, and research by industry analysts Mintel found 23% of women and 13% of men own a bottle. It is especially popular among younger women, with nearly four in ten of those aged 16 to 24 using it
So why is there such a big increase in demand for this product?
I’ve just seen a great piece of topical demand and supply in action today. Just in case you’ve missed it on the news, the Olympic torch arrived in the UK and embarked on a 70-day tour in the run-up to the London 2012 games.read more...»
Another great revision story this time on minimum prices. The Scottish Government has announced it wants to set a minimum price of 50p per unit of alcohol.
This will ensure that a standard bottle of wine at 12.5% volume is set at a minimum of £4.69 in Scotland. Compare this to the price of a similar bottle costing £3.49 in England.
A 70cl bottle of whisky at 40% will cost no less than £14 - while you can pick up a bottle in England for just over £10.
Sales of bicycles are forecast to reach an all-time high this year. The reason is that we are gearing up for a summer of watching cycling champions Victoria Pendleton, Mark Cavendish and Sir Chris Hoy in action. Analysts at Mintel predict that bike sales will grow by 8 per cent on 2011 to £700million this year, rising to £800million by 2016.
Another great one for students to practice their diagram drawing and explanation writing.
A great demand and supply in action story as your Year 11 students revise. The price of potatoes is set to rise due to the weather. The wet weather is delaying planting and slowing down harvests. The rains and floods have delayed main crop planting, with total plantings currently estimated to run to just over 70,000 hectares compared with almost 100,000 hectares this time last year.
Favourable weather in 2011 had led to unusually large crops across western Europe, which had kept prices down.
Using this information you could get your students to draw 2 diagrams one for 2011 and one for 2012.
The economic downturn seems to have caused a surge in demand for rice pudding. In the past year Muller Rice sales have grown 4% to £57.4million, data showed.
Muller put this increase down to advertising and encouraging shoppers to reappraise the brand. but other makers of pot desserts, such as Rachel’s, Tideford Organics and Yeo Valley, have also seen good growth.
A greater starter for some revision on unemployment here:
This week sees the launch of the latest IPad to scenes of overnight queues and fanfares from Apple.read more...»
How much would you pay for this?
The constituent parts of the basket that makes up the measure for CPI & RPI inflation is being updated to reflect changes in trends.read more...»
A great demand and supply in action story to start the new half term off. The sales of shoe polish have risen 32% in the last year. One reason for this increase is the poor state of the economy. People are really looking after what they have. If you have a £150 pair of shoes, rather than scuff them to hell and get a new pair, they are cherishing them.”
It’s the same phenomenon that saw Timpsons enjoy booming sales as people got their shoes re-soled in the recession, and sales of darning equipment increased at John Lewis.
A highlight of the year for many sports fans, the Superbowl presents advertisers with a unique opportunity to reach over 110 million captive viewers.read more...»
Over the past year Superdrug have seen nail polish sales rise by 37 %. L’Oreal’s nail polish sales were up 24%, double the increase in lipstick and lipgloss sales.
‘We live in an image-obsessed world and nail varnish has become the ultimate accessory. Women want a quick and affordable way to get the latest look. A new varnish provides an expression of individuality and the same buzz as a new outfit for 10 per cent of the cost.’
What cost $10 in 1937 and would now set you back $1 million?read more...»
It has been suggested in a new report that Skegness should change its name to boost demand in the ailing resort. This links really well with fashion and trends in demand. Skegness has become less popular with the rise of the package holiday (substitute) and younger people seeing Skegness as a less desirable place to go on holiday.
Here is a great graph for using with your students to do a delicious data question.
The recent recession has led to a surge in demand for fast food. This means that 50.4% of all meals eaten out of the home are now at a so-called quick service restaurant, up from 47.3% just two years ago. The term quick service restaurant is used by the industry to describe any outlet where the consumer queues to buy take-away food so includes coffee shops.read more...»
A great demand and supply in action story to start the year off. Oil prices have risen by 4%. The cost of Brent crude jumped $4 a barrel to $111.4 by yesterday. The reason is the tensions between Iran and the US.read more...»
Here is a great demand and supply in action story to get students practising their diagrams and explaining them.
The price of chocolate is set to soar over the next decade. This is due to a worldwide shortage of cocoa beans.
In addition growing taste for cocoa in China, rising demand for dark chocolate and an awareness of its health benefits are forcing up demand.
Great graph here showing UK GDP growth between 2007 and 2011.
The cost of the Christmas turkey could be as much as 25% higher this year. As a result you will pay about £50 for an average 12lb turkey, up from £40 last year.
A great graphic here on growth rates in the UK, Germany, France and the EU as a whole.read more...»
The Treasury is scrapping an exemption on VAT for goods valued at less than £15 dispatched from the Channel Islandsread more...»
It seems that Christmas festivities start earlier and earlier each year, so this mnemonic is rather fitting at the beginning of November.
This is a great one for remembering cross price elasticity.
News coming in today suggests that we are going to see prices at the petrol pumps rise considerably over the next few years. The reason behind this will be increasing demand from the fast growing Asian economies.read more...»
This weeks mnemonic hopefully will help students remember the factors which cause the supply curve to shift. PINTSWCread more...»
So as we all embark on teaching demand and supply I thought it would be a good idea to remind ourselves of the useful mnemonics for this topic.
This week we will look at the factors which cause the demand curve to shift.
We are expecting demand for goods and services to be dropping as the economic outlook worsens. Not so says Burberry, makers of expensive luxury items such as the trench coat and handbags. They have seen revenues rise 30% in the six months to September 30th.read more...»
1,200 people queued to get their hands on a fish and chip takeaway meal for just £1. Fosters Fish and Chips shop in Didsbury, Manchester, was offering the special promotion to celebrate its first birthday.
And the £4.75 savings on the usual price appeared to be reason enough for 1,200 customers to wait hours in line.
The recent hurricane on the East Coast of America has seriously affected the crop of pumpkins ahead of Halloween. The US is facing a shortage this year after Hurricane Irene destroyed hundreds of pumpkin patches across the region.
Wholesale prices have doubled in some places as farmers nurse their surviving pumpkin plants toward a late harvest.
Firms should employ more Britons.
This would make a great discussion, especially towards the end of term. Add to it a great short video from the BBC on this topic. This could be a starter or a main course depending on your students.
Strawberries and now raspberries have arrived into the shops extraordinarily early this year and the fruit itself has been larger, sweeter and juicier than any we have had in years.
This glut is a result of an unusually early spring and, essentially, good pollination.
Growers are fully expecting to outdo the 9,000 tonnes of raspberries sold last year, according to British Summer Fruits.
Some good data here on projected growth rates for China, EU, UK and Germany.
Great for a data comparison style question, such as:
The recent economic crisis has apparently made us all reach for the chocolate digestive. Sales of traditional favourite biscuits have been on the rise in the last year. The total market is up by 22 per cent over the past five years to some £2.2billion.
It is not just biscuits that have seen a rise in consumption due to the economic crisis, other comfort foods like sausage rolls and meat pies have also seen a rise in demand.
Another great demand and supply in action to help you revise. The afternoon of the Royal wedding Debenhams saw sales of fake tan rise by 219% compared with the same day last year. It would seem that people saw the wonderful glow of Kate and Pippa Middleton and wanted to be like them - F in PASIFIC.
It would seem the porridge is the new in dish. Once again we see a great demand and supply in action story in this BBC video. It shows how fashion and trends (F in PASIFIC) have caused the demand for porridge to rise. This would be a great starter activity in the run up to exams, getting pupils to watch the video and draw a demand and supply diagram to show the change.
This is a great demand and supply in action story I have just heard about on day time tv! The It Bag is apparently out. The new craze is the Market Bag.
At a cost of £90 per bag shown below has sold out everywhere.
It would seem not as many as previous years. Thorntons are blaming the great weather we had over Easter on the drop in demand for their chocolate. This is not the first time Thorntons has blamed the weather for poor demand and concerns over profit. Back in December they issued a profit warning due to low demand when the UK was affected by the snow.
This is a great demand and supply in action story. Could white bread be on the way out? The demand for whit bread has significantly fallen over the last few years as people look to the healthier alternatives of brown and seeded bread in an attempt to become more healthy.
Here is a really interesting article about the cheapest streets to buy a house in England and Wales.
The study shows a real North-South divide with no street in the South entering the top 20.
This article could make a great start to a discussion about what will affect the demand for housing,
The Guardian have updated two of their very useful interactive guides.
Firstly, an interactive guide on oil prices since 1998.
Secondly, an interactive guide on unemploymet since 1984 which now includes statistics on youth unemployment.
Both of these interactive guides would make excellent data description tasks along with great revision discussion starters.
With five weeks to go until Easter weekend you may be turning your attention towards Easter eggs in the shops. You may also have noticed that the price of Easter eggs has shot up this year. Easter eggs are costing up to 140% more than last year.
The price of an egg has now risen above 30p. The cost of a box of six free range eggs averages £1.80 at many major stores, and is likely to rise further. The reason is the spiraling costs of production (C in PINTSWC).
Here is another great video from the BBC. This looks at increasing costs of production for Nestle and how it might affect their prices.
As the Royal wedding draws closer we have another great economics story to come out of it. The lovely blue dress that Kate Middleton wore for the engagement announcement has caused a surge in demand for dresses made by the designer - Issa.
Sales have increased by 45%.
You probably don’t realise it but some of your clothes, perhaps a coat, jumper or cardigan has cashmere in it. Cashmere is a very soft yarn used to make some clothing. It comes from the goats in Mongolia. Unfortunately there has been an especially cold, harsh winter in Mongolia.
Great video here on what is causing the price of oil to rise.
This is a fantastic piece of interactive data from the Guardian. You are able to compare the last 4 recessions, looking at GDP, house prices, unemployment, interest rates and inflation. Not only can you use it to tie together various different macroeconomic concepts but also it can be used to help students develop their data description techniques.
Here is a great short video to use as a starter. It is packed with macroeconomic concepts that could be explored by your students.
It is estimated that the cost of food will increase by 50% in the next few years. The reasons behind this increase are the exploding world population, rising cost of fuel and increased competition for water.
Here is a great set of data on the spiraling cost of food to use with your students.
Bagpuss, the old, fat furry catpuss is one of the toys on many children’s Christmas wish lists. Bagpuss won the hearts of millions of children in the 1970’s. Now, over 35 years later it is one of the big selling toys this Christmas. Sales are up 80% this year as there is a retro toy revival.
This is a great demand and supply in action blog to get you into a Christmasy mood. Many people don’t like these but they will be part of the Christmas day lunch for most or will they? There could well be a shortage of brussel sprouts this Christmas due to the very cold weather we have just had. If we think about our demand and supply diagram the supply curve will shift to the left due to weather causing poor harvests (W in PINTSWC).
This video explains further.
Last week I wrote about the Heston Christmas pudding flying off the selves in Waitrose. Well it would appear that it has almost sold out as Waitrose appear to have underestimated the demand for the product. Some of these Christmas puddings have appeared on ebay for £129!read more...»
The sales of Christmas cards have been falling over the last 5 years. It is estimated that this year 141 million fewer Christmas cards will be sent compared to 5 years ago.read more...»
Have you seen the adverts on tv for Heston Blumenthal’s Christmas pudding with a whole orange in the middle? I have many times already and by all accounts lots of people have as it has been flying off the shelves.
This a great example of substitute goods. According to figures released today rents in the UK have risen for the ninth month in a row. LSL Property Services, which owns the UK’s largest lettings agent network, said the average cost of renting a property rose to £691 during October, a 4.5% increase on last year. The demand for renting has been driven up as people are renting instead of buying due to a number of reasons.read more...»
The popularity of evenings in and surfing the internet has caused demand for pyjamas to shoot up. Yet another great example of how fashion and taste can affect demand for products
This is a great graph for when you teach income tax. It shows the marginal rates of income tax.
Also this article is very useful.
Don’t worry if you sit down at the Christmas table this year and your turkey doesn’t go as far as it did last year, you haven’t had too much to drink! In fact the size of Bernard Matthew’s turkeys have shrunk. The cost of rearing the birds has risen dramatically due to increases in the price of feed and other bills for farmers.
The increase in popularity of festivals along with more people going on holiday in the UK has led to the invention of the pocket toilet -
This is an interesting demand issue. Jewelers are saying that the demand for wristwatches has significantly decreased. The fall in demand is apparently down to the large number of other time telling devices on the market such as iPods and mobile phones.read more...»
So we have had Halloween and as my blog yesterday showed spending on Halloween has risen considerably over the last decade. Not so good news for the fireworks industry though ahead of the 5th November. It looks like the recession and the government spending cuts will put a dampener on next years fireworks sales.
How many of you dressed up for Halloween? It is likely you will have contributed to the booming business by buying a costume, mask or some other halloween item.
Another great graphic for students to develop their data description skills.
Sadly the ancient Japanese profession of Kimono making is on the brink of extinction as the few who still know how to make them are very old and could die out without passing on their knowledge.read more...»
“The bidet, once the height of sophistication in bathrooms, is slowly dying out in Britain.”read more...»
One factor that can have a huge effect on demand is a change in fashion and taste. Fake Christmas trees which used to be the height of tackiness are now selling like hotcakes, up 140% from last year. With more people looking for an environmental alternative, can your students think of any other Christmas products which may see an upsurge in sales? They could also draw a supply and demand diagram to show how the price of the fake Christmas trees could change due to the shift in demand
News came this week which will strike fear into many a homeowner. According to Halifax UK house prices fell 3.6% in September. This drop was the biggest fall in month-on-month prices since the figures were first compiled in 1983. Demand and supply factors are at work here - an increased number of properties available for sale in recent months had pushed down prices. This has come at the same time as demand for homes had fallen owing to “renewed uncertainty” about the economy and jobs.read more...»
Here is a really clear video from Sky News to go with Ben’s cotton prices blog. Perfect as a starter for a lesson on supply.
This headline is enough to send many chocolate lovers running off to the nearest shop to buy up all the stocks of chocolate! A cocoa pod disease is threatening the supply of cocoa which is used in the production of chocolate. This article is a great read and ideal for pupils to use as a data response for demand and supply. It also makes great reading for year 11 pupils who will be covering the topic of poverty over the course of this year.
“The recent increases, which follow a summer of soft prices, are as high as 12% and as low as 1%, depending on the kind of product and the location. They reflect cutbacks in China as steel producers there lower output to meet the government’s year-end energy-savings target.”read more...»
“Cotton prices breached the $1-a-pound level for the first time in 15 years as delayed harvests and booming demand in Asia are cutting into supplies, putting clothing makers on edge.”
Data released today shows that house prices have fallen for the third month in a row. This has further fuelled the worries over a “double dip”. The average cost of a home for sale in England and Wales is now £229,767. New sellers have dropped their asking prices by 3.4% in the last three months. There are record levels of houses unsold.read more...»
Today the August figure for inflation was released. Standing at 3.1% the figure stayed the same from July, however it is still above the government target of 2%. This article is a great read to explain what is going up and what is going down.
The data below would be a great homework or class task, getting students to describe the changes in the CPI between 2008 and 2010….read more...»
The price of coffee on the futures market has risen to a 12 year high this week. The reason behind this rise is the shortage in supply due to poor crops this year. Add to this increasing demand due to the popularity of coffee shops like Starbucks and Costa coffee we are seeing the price of coffee beans rising.
A great task here would be to ask students to draw and explain a demand and supply diagram explaining these changes. For more information read this article.read more...»
One very important aspect of the GCSE (and the AS Level) is description of data. Over the coming months, Innes and I will be putting some useful information on the blog that you can use to help you with your exam technique. Alongside the data we will give you tips on how to get the best marks in these sorts of questions. Today’s data, the first in our “Delicious Data” series, is on the US economy.read more...»
Figures today show that asking prices for houses have lowered for the second month in a row. This is explained quite simply by our demand and supply diagram. The supply of houses has shifted to the right in recent months as home owners become a little more confident. Along side this demand has shifted to the left.read more...»
It has been reported today that a flood of houses onto the market is likely to cause the average house to fall over the next six months. This article is a great one for pupils to read and then construct a demand and supply diagram. If we think ahead to the GCSE exam pupils will be expected to draw a demand and supply diagram using information given to them and then describe what has happened to price and quantity sold, they may also be asked to explain why the change has happened.
You could extend some of your pupils by asking them to consider the PED and PES for the housing market.
Asparagus has suddenly become very popular in UK households. Demand in the last year has risen by 15%. It would appear the celebrity chefs on television have inspired people to use asparagus. Also shops like Marks and Spencers and Waitrose have run promotions which have led to increased demand.
This BBC article provides great information for students to help them draw and explain a demand and supply diagram.
The nail varnish above retails at £19 a bottle, however on ebay it is going for upwards of £45, why?read more...»
A great article today from Sky about suggestions that tax on tobacco should be increased by 5%. This could be used for revision of demand and supply ahead of the summer exams.
General Motors announced today that Hummer (see picture below) would be no more. There are several factors that have caused demand for Hummer to fall and therefore the demand curve to shift to the left.
As we all return to our classrooms this week, a good starter would be this great global financial quiz on the BBC.
It is a new year and Beat the Teacher is back! This weeks beat the teacher covers the macroeconomic objectives. Try to find the five mistakes.read more...»
The Guardian business section have produced a great advent calendar called a year in business. This would make a great starter activity in the run up to Christmas.
The BBC have started doing a great new series of short videos called Biz Bites. This weeks video is particularly good and would make a great starter.
This weeks beat the teacher is based on supply. Can you spot the mistakes in the text?
This weeks mnemonic is the way my students remember what fiscal policy is.read more...»
This weeks Beat the Teacher is an introduction to demand. Students have to identify the errors in the information.
This weeks mnemonic looks at the role of profit in an economy - FARSIread more...»
Beat the teacher is a great starter activity to get your students thinking and revisiting the topic they have just done.read more...»
This week’s economics in the news covers exchange rates, supply and demand and a change in the retirement age. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it.
Consumption of apples has fallen by 3.2% in the last year, despite Government guidelines stating we need to have our five a day.
This weeks mnemonic will help students remember the functions of the price mechanism.read more...»
This week’s economics in the news covers product placements on TV, mergers and the perils of internet banking. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it.read more...»
This weeks Super Starter Sunday uses a short video to help get students to think about how to improve the four factors of production.
This week’s economics in the news covers US unemployment, BP, Easy Jet and insurance claims. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it.read more...»
Something to get a lesson started with students thinking about patterns and links between concepts in Economics. This starter could either be done on an interactive whiteboard or with pen and paper.read more...»
Here we go again, its almost the start of the term, you have probably spent all of your holiday money and are raring to start studying again! And so we start back with our first mnemonic of the academic year. This week we are going to look at how a strong pound will affect the competitiveness of exports and imports.read more...»
This week’s economics in the news covers Karen Brady, Iceland, competition, and technological unemployment. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it.read more...»
As many of us will be heading back to the classroom next week Super Starter Sunday has returned, it feels like only yesterday that I was signing off for the summer! So I thought a mini true or false quiz on economic happenings over the summer might be a good start for both year 10 and 11.read more...»
This BBC article is really interesting. The BBC have asked people to explain in three words how they will know when the recession is over. There are some really good ideas like ‘selling my house’ and ‘jobs for graduates’.
This would be a really good starter activity in the new academic year. It could be used to start the Year 11 students off on macroeconomic topics or as a general lead in for the new Year 10 students.
As with Super Starter Sunday this is going to be the last mnemonic of this academic year, it will return in September. This weeks mnemonic is perhaps a little out of place in the middle of summer!read more...»
As the end of term is fast approaching, this week’s Super Starter Sunday activities will be the last until September. I am sure many of us remember Blockbuster, here we will put an economics twist on the game show. This activity could be used as a starter, plenary or an end of term lesson.
Last week Innes looked at factors that cause the demand curve to shift, so it naturally follows that this week I should do factors that cause the supply curve to shift. I find students have more difficulty remembering supply factors, perhaps because it is less familiar to them.read more...»
As we get towards the end of the year pupils should have gathered lots of knowledge. A good way to test that knowledge in a fun way would be to play just a minute or two.read more...»
One of the most important skills at GCSE Economics is to be able to identify factors which shift the demand and supply curves, especially in the OCR paper where an almost identical 12 mark question appears every year without fail. Here is a check-list of factors which will shift the demand curve ( and yes… you’ve guessed it - next week there will be a mnemonic on factors leading to a shift in the supply curve)read more...»
It’s Sunday again, so time for another starter activity. This one could be done as a who or what am I. It is a good way to get the class thinking and talking to each other about economics.read more...»
Many thanks to Anne Logan (Methodist College Belfast) for suggesting a simple starter activity that can get GCSE Econ students engaged with breaking economics news stories. The idea is very simple - show a recent Kipper Williams cartoon and ask the students to explain “why is it funny”?
Today we are going to look at the relationship between price elasticity of demand and total revenue. For GCSE (and A Level) students it is sometimes difficult to remember what a business must do to price in order to increase total revenue.read more...»
This might take a little preparation but will get your students thinking at the beginning of the lesson and if used regularly may encourage them to keep up to date with economic figures.read more...»
This week’s economics in the news covers unemployment, car sales, bank bonuses, Thailand’s economy, and the beginning of the end for two well known companies. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it.read more...»
This weeks mnemonic is great for learning the types of economies of scale. Economies of scale are defined as when a firm grows larger long run average costs fall.read more...»
This week’s economics in the news covers unemployment, oil prices, protectionism, and the end of the recession. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it.read more...»
Another Sunday, another super starter to get some lessons off to a good start this week. This week I have decided to go with odd one out. Below there are sets of statements, students must spot the odd one out, they could also explain why it is the odd one out.read more...»
This week’s mnemonic is the basis of my macroeconomic teaching. It allows you to set up a really good wall display, possibly featuring Tony the Tiger.read more...»
This week’s economics in the news covers unemployment, the exchange rate, Alan Sugar and interest rates. The pupils have to guess the news stories using the pictures. Each picture has an explanation and web link behind it.read more...»
This week’s mnemonic is for factors affecting price elasticity of supplyread more...»
A good way to get the lesson going after half term. Give your students the following five words, these are the answers, then ask them in groups to think of the question that goes with each answer.read more...»
I intend to add a new mnemonic to this blog every Monday. Today: factors affecting price elasticity of demand.read more...»