Final Exam Eco

The trend of “diet and light foods” may decrease the level of demand for non dietary products.

a. Say we are already suffering the long-run consequences of the policies of the remote or recent past.

THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ECONOMICS ECON1202/2291 QUANTITATIVE MEHODS A FINAL EXAMINATION SESSION 2 2008

The purpose of this project is to tie together the various topics in microeconomics that are discussed during the semester. The project involves an analysis of a particular product or service, a company that produces the product, the industry that produces the product, and an industry that produces a raw material or input used in the production of the product you choose to analyze. Choose any final good or service (no basic commodities, although this could come in the analysis of an input market). Use this as an opportunity to gain knowledge about the economics of a product or service that interests you.

In the poverty simulation I played the role of a 16-year-old girl named Connie Chen who was 7 months pregnant. My father had just gotten laid off from his job and my mother was the only one bringing in income for our family. Our monthly expenses exceeded our income which forced us to choose between basic necessities. Cultural considerations weren’t mentioned in our packet, but since we were of Chinese decent it is possible a lack of knowledge in navigating the U.S health system would be a barrier to receiving necessary healthcare. The Chinese culture also puts less emphasis on individual feelings and more emphases on loyalty to the family, making it important to include the whole family in decision making.

Learning to me is allowing your brain to receive information and then applying in to your life experiences. I feel like face to face learning is better, however, online is more convenient. I prefer face to face because it offers a more personal relationship with your classmates and your professor. Although it is not practical for my life, I do wish I could attend classes in a regular environment. Online provides me that much needed space and opportunity to move at my own pace. Now that I have taken this class, I know that while I am receiving information I will be more aware of the information being delivered because I will now be more intentional with receiving the information.

Formulate a reason why the elasticity of demand is an important consideration when analyzing the impact of a shift in supply and why the elasticity of supply is an important consideration when analyzing the impact of a shift in demand. Include at least one (1) example in each scenario.

102). One might impugn that it is not poverty but lack of education that affects the obesity epidemic. It does not require a mathematician to comprehend that choosing a two dollar case of Honey Buns as opposed to a six dollar bag of apples will equal more food in the refrigerator. Generally, processed foods are more “energy dense” than garden-fresh foods; they contain less water and fiber but more added fat and sugar, which make them both less satisfying and more calorific (Pollan, 2006). Provisions similar to fruits and vegetables contain high water content that permits individuals to feel satiated rather swiftly. Nutritious meals are more expensive, less tasty, and are more time consuming to prepare, fostering unhealthy eating patterns. On special occasions, parents will treat their children to McDonalds where everything is “super-sized”. Adults and children can acquire debauched consumption patterns because they don’t comprehend the quantity they have enthusiastically ingested. Pollan (2006) stated that “Well-designed fast food has a fragrance and flavor all its own, a fragrance and flavor only nominally connected to hamburgers or French fries or for that matter to particular food” (p. 111).

6. Whether transactions with the reporting entity are high or low proportion of the foreign activities

	Mintz contends that as sugar began to infiltrate the British diet, its popularity and demand began to increase. As the demand went up, so did the supply, causing

Food Marketing and Consumption Patterns.  Certain foods—such as chicken, cheese, and soft drinks—have experienced significant growth in consumption in recent years.  For some foods, total market consumption has increased, but this increase may be primarily because of choices of a subgroup.  For example, while many Americans have reduced their intake of pork due to concerns about fat, overall per capita consumption of pork has increased in the U.S.  This  increase probably results in large part from immigration from Asia, where pork is a favored dish.  Consumption of certain other products has decreased.  Many consumers have replaced whole milk with leaner varieties, and substitutes have become available to reduce sugar consumption.  Beef and egg consumption have been declining, but this may be reversing as high protein diets gain increasing favor. Some food categories have seen

A. America needs to catch up to the world in their dietary ways by adding a type of food

Explain how the demand curves for normal products and for prestige products differ, what are demand shifts and why are they important to marketers? How do firms go about estimating demand? How can marketers estimate the elasticity of demand?

The current trends include a shift away from junk foods, a growing interest in healthier/beneficial products, and the trend for personalization through customization or seeking in a wide

The extraordinary growth of the fast food industry has been driven by fundamental changes in American society. In