Petrol prices set to rise
The cost of a barrel of oil has risen from $40 a year ago to $80 now with the price expected to rise even further in the coming months.
These oil tankers are apparently refusing to dock and unload their contents until the price of oil rises!
Toy shortage at Christmas?!
Have toy manufacturers misjudged the amount of sales this Christmas? With the UK still in a recession toy manufacturers could have presumed that Santas budget was much lower this year and therefore produced fewer toys.
Super Starter Sunday - Beat the Teacher 2
This weeks Beat the Teacher is an introduction to demand. Students have to identify the errors in the information.
Beat_the_Teacher_2_answers.doc
House prices rising but could it all be about to stop?
House prices have been on the rise for the last five months after a disastrous year of falls. The average price of a house in the UK in September stands at £161,816. This figure is £19 higher than this time last year. If we go back to February this year the average house price had slumped to £147,746.
Stamps to go up by 3p - Price elasticity of demand
The Royal Mail has decided to increase the price of first class stamps by 3p due to a huge hole in their finances. They are hoping the proposal will rake in an extra £100 million pounds a year. Whether this tactic is successful depends on the price elasticity of demand for the stamp. Consumer Focus believe the new prices would drive away customers meaning demand would be price elastic where as the Royal Mail obviously believe demand is price inelastic as they expect to increase revenue with the price change. Click read more for some questions on PED that would suit both GCSE and A level students.
Demand and Supply in action - cocoa shortage to affect price of chocolate
For those chocolate-lovers out there like me this item may send shivers down your spine! We are currently seeing the biggest shortage of cocoa for 40 years.
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Demand and Supply in action - fall in demand for apples
Consumption of apples has fallen by 3.2% in the last year, despite Government guidelines stating we need to have our five a day.
Demand and Supply in Action - Second hand car prices rise
We would normally expect the value of our cars to fall (depreciate) over time. This year though the reverse is happening. Due to a shortage in supply the price of second hand cars have risen.
Cash for gold
If, like me, you found yourself watching far too much daytime TV over the holidays, you may have noticed advert after advert imploring you to send your unwanted gold (even teeth!) to a company in return for cash. Interest in companies like this has soared during the recession as people struggle to cope. H. Samuel has just entered the market, hoping their recognised brand name will entice customers. Can any of your pupils think of other industries which will do well during a recession?
Would you buy a car on ebay?
General Motors in America certainly thinks people will. In an attempt to recapture market share and reduce costs GM are going to sell their cars online. At first the pilot scheme will be launched in California.
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