Wednesday, November 12, 2008
http://www.canada.com/vancouversun/story.html?id=dc8e7f1b-e07b-46d8-8ab3-2c52b820154d&p=1
This article talks about the imperfections and agony that many consumers feel after they have purchased a brand new HDTV, because many consumers often makes the quick assumption that bigger TV is always better. This is in fact a false assumption because many experts have claimed that big HDTV has many downsides which consumer should look into, because HDTV is definitely not suitable for everyone. In fact, the optimal size of the television depends on the distance of the viewer from the screen, so you have to make sure that your room is big enough to have extra space in between both you and your HDTV. Besides a big room, you must also decide what shows and channels you like, because If you're watching HDTV programming, then bigger is indeed better, but unfortunately there isn't a tremendous variety of HD channels that consumers can pick because the majority of HD channels are all sport. This is the reason why many shoppers have "buyer's remorse", which is a post-purchase regret for either not picking up a larger size, or picking up too big of a size. To avoid "Buyers remorse," many experts have suggested people to "Get yourself regular holiday wrapping paper and cut out the size panel you want to buy, such as 50-inches,and then stick it to the wall where the television will go. Live with it for a week and you'll know whether or not this size works for you."
Connections to Introduction
The connection I make with this article and chapter 3 has to do with Market Imperfections because according to the textbook, a lack of Information is a criteria of Market Imperfections and a lack of information is definitely one of the cause for why some consumers would end up suffering from "Buyers Remorse." Because most consumers have information that is often inadequate, they end up making the wrong decision because they were never stock up with the correct information. There are probably a lot of consumers that has a big HDTV but lacks a big room, so they are unable to use the big HDTV to it's fullest potential, and this is a total shame because there are probably many people that have never heard of the experts telling the them to "Get yourself regular holiday wrapping paper and cut out the size panel you want to buy, such as 50-inches, and then stick it to the wall where the television will go," in fact this is the first time i have ever heard of such a method. If more people knew about this method, then there would probably be less Market Imperfections among the HDTV market.
Reflection
Personally, I think it's a shame that market imperfection happens among the HDTV market, but i think the consumer's are the most at fault because if they don't have the sufficient amount of knowledge to decide on what they want, then they should just ask because there is a reason why stores have experts to help you with. Theoretically, the free-market system assumes that buyers have adequate information to make the correct decision, so in my opinion, the consumer are the most at fault for causing the market imperfections of HDTV. Besides the consumer's at fault, the experts are also at fault because the tips they provide are good, but they did an atrocious job of spreading the tips because of the lack of advertising they did for their tips. Basically put, both the consumer and the experts are at fault because i think they both could have done a better job.
Sunday, November 23, 2008
Monday, October 27, 2008
Chinese demand for B.C. lumber takes off
Thursday, October 27, 2008
http://www.canada.com/vancouversun/story.html?id=08d079c6-eea7-41db-8b3f-ea97c900d0a7
This article explains about the sudden growing demand for BC lumber from Asian Countries like China and Japan mostly due to the increasing tax raise of 80 per cent for the value of raw logs implemented by the Russian government that will be put to action in the beginning of 2009 and also, a sudden emergence of middle class citizen that are importunate over high-end wood in countries like China. With China sudden emergence as a major market in the BC lumber, it will certainly fill in the gaps that the US left when the US housing market imploded two years ago. This resulted in an incremental closure of sawmills and workers layoff. According to Forest Minister Pat Bell, BC lumber is expecting to reach the one billion mark this year.
Connections to Introduction
The connection I make with the current situation in the BC lumber industry and the chapter in our text has to do with Demand. What we have in BC is basically a situation where we are taking advantage of the situation in Russia where there is an increase in tax for the value of raw logs. This is where the concept of Demand comes in play because with Russia irritating and scaring the Asian countries of China and Japan with the possibility of increasing the taxes to their raw logs, China and Japan will start seeking other alternatives like the BC lumber industry, which will cause a sudden demand for BC lumber.
Reflection
Personally, I think this article is great news for us BC citizens because this tells us that our lumber is going to be in large demand from many countries and this will subsequently strengthen our economy dramatically. I think this is a big lost for the country of Russia because they are missing out on great profit that could be fantastic in any countries economy. If by January of 2009 Russia decides to raise the taxes for raw logs, then this will lead many other countries to leave the Russian lumber and make the transition to our BC lumber. In the long run, we are looking at a very bright future for our BC lumber industry and possibly even eclipsing the multi-billion mark.
http://www.canada.com/vancouversun/story.html?id=08d079c6-eea7-41db-8b3f-ea97c900d0a7
This article explains about the sudden growing demand for BC lumber from Asian Countries like China and Japan mostly due to the increasing tax raise of 80 per cent for the value of raw logs implemented by the Russian government that will be put to action in the beginning of 2009 and also, a sudden emergence of middle class citizen that are importunate over high-end wood in countries like China. With China sudden emergence as a major market in the BC lumber, it will certainly fill in the gaps that the US left when the US housing market imploded two years ago. This resulted in an incremental closure of sawmills and workers layoff. According to Forest Minister Pat Bell, BC lumber is expecting to reach the one billion mark this year.
Connections to Introduction
The connection I make with the current situation in the BC lumber industry and the chapter in our text has to do with Demand. What we have in BC is basically a situation where we are taking advantage of the situation in Russia where there is an increase in tax for the value of raw logs. This is where the concept of Demand comes in play because with Russia irritating and scaring the Asian countries of China and Japan with the possibility of increasing the taxes to their raw logs, China and Japan will start seeking other alternatives like the BC lumber industry, which will cause a sudden demand for BC lumber.
Reflection
Personally, I think this article is great news for us BC citizens because this tells us that our lumber is going to be in large demand from many countries and this will subsequently strengthen our economy dramatically. I think this is a big lost for the country of Russia because they are missing out on great profit that could be fantastic in any countries economy. If by January of 2009 Russia decides to raise the taxes for raw logs, then this will lead many other countries to leave the Russian lumber and make the transition to our BC lumber. In the long run, we are looking at a very bright future for our BC lumber industry and possibly even eclipsing the multi-billion mark.
Thursday, September 25, 2008
Cholera kills one, infects six in Iraq
Sunday, September 07, 2008
http://www.canada.com/vancouversun/health/story.html?id=0bc86d0a-e500-4c31-b6aa-b64d5aa3
This article is about the seven cases of cholera diagnosed in Iraq in just two days due to poor sanitation, which lead people to being exposed to water of unsafe sources. As a result of the scorching and dry weather during the summer times in Iraq, many citizens have been desperately seeking for any sources of water, and many have succumb to poor quality water that is a major detriment to your health. It is reported that 4,000 cases of cholera was diagnosed in Iraq last year. Iraq's General Director of Public Health Ihsan Jaafar stated that as long as Iraq's water source is still in scarcity, then the problem of cholera will remain as a big problem to all Iraqi citizen. To make matters worse, the cholera is characterized in its most severe form which can cause death by severe dehydration and kidney failure within hours.
Connections to Introduction
The connection I make with the current situation in Iraq and the chapter in our text has to do with Scarcity. Scarcity is defined as "an insufficient amount or supply." There is obviously a big problem in terms of scarcity with water because even in develop countries, the scarcity of water is becoming a big issue. When you put Iraq into this situation, what you have is a bigger problem that is extremely hard to solve, because Iraq is not a rich country and it's more than just scarce water, but the water is contaminated through the wars this country has been hindered with. Due to the scarce water supply Iraq have, many citizens have to take a chance and just hope that the water isn't contaminated. We can also relate the situation in Iraq to the topic of opportunity cost, because there is guaranteed a price to be paid when you decide to drink these contaminated water. But in reality a human must have water in their body, so they must take a chance with the water supply sooner or later.
Reflection
Scarcity in water is definitely becoming a global issue, but when you put countries that live in much dryer area into the mix like Iraq, then they will definitely be hit the hardest. Even to the point where they have no choice but to take a chance with the contaminated water. Us living in such a develop country should be extremely thankful that we have access to safe water and should not be wasting our precious water on unnecessary matters, since us develop places are the one that is causing the scarcity of water right now in the world.
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