...Article Analysis According to an article from the Inter Press Service, gasoline consumption trends have been declining (Larson, 2013). The declined gasoline consumption has an effect on the utility that is derived from the product. There are different reasons for the decrease that include individuals using different means of transportation, use of other fuels, and decreased sales. Although the price of gasoline has risen, and is still rising, the product is still to considerably inelastic. The decline in gasoline consumption has an effect on the utility of the product including the decline of usefulness of the product among consumers, but still needing the product for exports in the United States. Although the product is not as useful for consumers, it is still a need amongst transportation. Many individuals need the gasoline as a way of transportation to work, school, doctor’s appointments etc. Aside from consumers, the product is a need for exports in the United States economy. There have been occurrences that have changed the demand of gasoline among consumers although the supply remained the same. Occurrences that have changed the demand of the product include the decline in car fleet, less driving among individuals, more fuel-efficient cars, the decline in registered vehicles, decline in new car sales, and the number of Americans living in urban areas (Larson, 2013). With less car fleets, there is less fuel to purchase for company transportation, and with more cars...
Words: 765 - Pages: 4
...This archive file includes ECO 365 Week 2 Learning Team Organization Industry Overview Introduction For many years, people across the United States has sought out ways in which to make money, and at the same time, provide for people a place where they can go and buy the necessities they need. Entrepreneurs from across theUnited Stateshad ideas that seemed logical, but in actuality were not. Stores, business, and companies have been built, only to last for a short time. Not every store or business built has been successful. Business - General Business Individual SDLC Value Paper Write a 700- to 1,050-word paper that explains the components of a formal SDLC process. · Includea discussion of the basic elements of the SDLC. · Identify types of employees involved in the SDLC process and their roles (project manager, system analyst, developer). Include a minimum of 2 references relevant to the assignment, in addition to the textbook. Format your paperconsistent withAPA guidelines. Individual Work-Related Project Analysis, Part I Writea 1,400- to 2,100-word paper that analyzes a work-related project using systems analysis for a selected business system at the departmental or divisional level from your workplace, an organization, or a case study (which doesn’t have to be a health care facility). · Includea discussion of the information-gathering techniques and design methods used...
Words: 354 - Pages: 2
...Library Activity – Article Analysis U.S. Coffee Consumption Patterns ECO/365 Principles of Microeconomics September 30, 2013 | TOTAL |100% | |CONTENT (70%) |70.0% | |MECHANICS (30%) |30.0% | |FINAL GRADE (100%) |100.0% | |Grade (6-points) |6 | |Days late |0 | |Penalty |0% | |Updated Grade |6 | U.S. Coffee Consumption Patterns The article “U.S. Coffee Consumption Patterns” selected for this assignment was found in the University Library website using the keywords; Trends in consumption patterns, coffee. According to the U.S. Coffee Shop Market report recently published by Mintel Consumer Intelligence, two-thirds of respondents drink coffee away from home at least occasionally. Driving coffee shops' success is consumer demand for quality and convenience. Fifty-eight percent of respondents who regularly buy coffee at a coffee shop said coffee shops offer better quality coffee. However, only one-third of all respondents said they think coffee shops sell better coffee than those of their competitors. As for convenience, only 37 % of consumers who purchase their coffee at coffee shops instead of brewing it at home normally go to the closest coffee shop. The research conducted to find this article is as follows; I researching the University Library, selected EBSCOhost...
Words: 492 - Pages: 2
...Article Analysis Student Name ECO/365 August 13, 2012 Teacher Name Article Analysis Trends Consumption in Corn The economics of trends in consumer consumptions of goods is closely by a wide variety of groups and agencies to determine what if any, patterns of expenditures can be discerned. The understanding the relationships between consumer trends and the supply and demand o such goods is intricately linked and help to reveal by the consumer trends. The consumption of goods is a staple of any economy making the understanding of supply and demand a critical concern. To illustrate how supply and demand has a lasting effect on consumers and goods, this paper will address corn as a commodity, utility and a consumer trend. Utility in Corn The definition of a utility is a good or service on which many consumers depend (Utility, 2012, p. 1). For much of the world, corn is considered an indispensable utility. Not only is corn used to feed millions of people and their livestock, corn is used in the manufacture of certain medications as well as in many international cuisines, as both a cooking medium, corn oil, and as a thickening agent in the form of corn starch. Corn is also the basic ingredient in the distillation of several alcoholic beverages as well as the primary source in the making of ethanol, an alternative fuel source. The diversity of corn literally affects billions of people, making it an essential utility to consumers all over the world (Cellania, 2012)...
Words: 701 - Pages: 3
...Trends in the Gasoline Consumption Tammie Lewis ECO/365 December 23, 2013 Instructor Michael Thirtle Trends in the Gasoline Consumption I have decided to do my Article Analysis on the trends in the gasoline consumption. I have found while working on this to be very interesting in seeing how much our gasoline prices have changed in just a few years. As well as how it has and is affect our economy. The main reason for the decrease in the gasoline consumption rates by the consumers in the United States is the cost. Since the cost of the crude oil is increasing, the utility is imitate of gasoline continues to rise. When our economy was at an all-time low that started in 2008 and lasting into 2009, the demand for gasoline began decreasing and this caused the prices also to decrease. The gasoline price will start increasing again, because of the worldwide recovery is underway. The interaction among the consumers in the United States as well as overseas is how the crude oil prices are figured. Some other features that influence the price of the crude oil are, the growth of the economy, exchange rates, weather related events, and investments. During the past several years the demand for the crude oil has largely increased all over the world. In 2007 there was a peak of 86 million barrels per day. In the past few years the demand has been decreasing. There were 85 million barrels of oil that was consumed per day in 2009. Even though, the demand for gasoline has shown...
Words: 478 - Pages: 2
...Week 1 Eco 365 Article Analysis The name of the article on this paper is OP-ED: Falling Gasoline Use Means U.S. Can Just Say No to New Pipelines and Food-to-Fuel. Through this paper, we have to analyze the basis for the trends in consumption patterns. Consider the utility derived from a product or service mentioned in the article. Describe what has occurred to change the demand for the product or service and its market and equilibrium prices. Describe what has occurred to change the supply of the product or service and its market and equilibrium prices. In your opinion, is demand for this product or service price elastic or inelastic? What does this imply about how consumers respond to changes in the price of this product or service? According to an article from the Inter Press Service, gasoline consumption trends have been declining (Larson, 2013). The declined gasoline consumption has an effect on the utility that is derived from the product. There are different reasons for the decrease that include individuals using different means of transportation, use of other fuels, and decreased sales. Although the price of gasoline has risen, and is still rising, the product is still to considerably inelastic. The inelastic price on gasoline affect the economy in all ways. The decline in gasoline consumption has an effect on the utility of the product including the decline of usefulness of the product among consumers, but still needing the product for exports in the United States...
Words: 868 - Pages: 4
...Week One Article Analysis ECO/365 January 16, 2012 Week One Article Analysis David Colander defines economics as "the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political realities of the society” (Colander, 2010, p. 4). Coordination in this definition refers to production content, method, recipients, and even quantity. To think like an economist one must analyze every situation by comparing the costs and benefits and make any decisions based on those findings (Colander, 2010). The study of microeconomics zeroes in on the individual and analyzes how economic forces affect the choices he or she makes. Economic forces will ensure that what people want and will pay to get will match what is available. This is the concept of supply and demand. If the prices are such that people are not willing to pay it to obtain an item or service, they will choose to buy less of it, not buy it, or buy a substitute. This is the working of the law of demand. The price affects both supply and demand. When prices increase, the demand decreases, and when prices decrease, the demand increases. In the law of supply, however, if prices increase, individuals and companies will increase the supply because the opportunity cost of not producing the product rises with the price (Colander, 2010). There are factors other than price that can lead to changes in supply as well as changes in demand. These could be government...
Words: 1078 - Pages: 5
...Article Analysis University of Phoenix ECO / 365 Liliana Fargo November 1, 2009 Article Analysis Many consumers purchase products to use them because they like the product, it fits their lifestyle or just for the simple fact of it being affordable. The consumers hardly ever look at the purchase habits of other consumers that is the company’s job to do. There are many facets that a company has to look at, such as the trends and consumption patterns of the consumers that consumers are not too aware of. Taking all of this into consideration, the purpose of this paper will be to define economics, define microeconomics, define law of supply, as well as define the law of demand, ad to also identify the factors that lead to a change in supply and a change in demand. What is economics? Economics is more than just the “economy.” Economics is the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political realities of the society (Colander, 2008). Merriam-Webster defines economics in a simpler way as a social science concerned chiefly with description and analysis of the production, distribution, and consumption of goods and services (2009). The key word in the definition given by Colander is coordinate. In the study of economics there are three central coordination problems any economy must solve, which are: what, and how much, to produce; how to produce it; and for whom to produce it...
Words: 1232 - Pages: 5
...Article Analysis Angela B. Bradford October 29th, 2012 ECO/365 Ashok Padhi Trends often have patterns weather they are because of marketing, consumer needs or changes in culture. I was interested in the product many in this country love to drink and it is coffee. Coffee is something I do not consume therefore I was interested in the trends and what made coffee so popular. I will be describing what occurs to make the demands of the good and its market and equilibrium prices, assuming the supply remains the same. I will then describe the change that has occurred with the supply of the product and its market and equilibrium prices, assuming demand remains the same. Lastly I will give my opinion on this products demand price if it is elastic or inelastic and what that implies about how consumers respond to changes in the price of the product. Coffee is the second largest commodity on the world followed by petroleum. Why is the demand so high? With the growth of coffee houses and coffee bars their came a shift in the specialty coffees and express coffees. The demand of specialty coffees has grown from 12 percent to 16 percent this year alone and that number is not prejudice to any age group gender or race. The consumption is now soaring again this year based on a growing economy and younger consumers getting into the mix. Supply on the other hand is in a shortfall and is approaching their lowest levels in 11 years. We currently have a big demand and a dwindling supply...
Words: 689 - Pages: 3
...Article Analysis Eric Graves Dr. Satish Sharma University of Phoenix ECO/365 Abstract: The following article is regarding what is most important to everyone around us regarding the pricing for oil and gas. This is a topic that concerns most people on this planet, why are the prices for gasoline so high and is it regarding the greed of oil producing companies to continue to keep rising the gasoline prices as high as possible. We will talk about the many reasons why these fluctuating pricing keeps occurring within our world market. Introduction: Gas and oil pricing is a constant irritate for many of us who are not happy about the high cost of fuel and why it remains high. We can use practical results that can provide evidence to this very contention of high fuel expense if we do the right research. These explanations can provide some examples of why the costs are constantly affected in our everyday life. When crude oil is produced it provides the cost per barrel depending on how many barrels it’s producing, therefore if the price is $ 80 dollars per gallon it may in fact cost the consumer the same amount by the cost of fuel per gallon. (Rising Gas Prices) Article Review of Cheaper Canadian Oil Not Reflected in Midwest Pump Prices The following...
Words: 945 - Pages: 4
...Article Analysis ECO/365 12 October, 2012 Mr. Jeff Leeson In economics, consumption trends provide us with evidence to the relationship between supply and demand. These trends are examined to determine spending habits and patterns of the consumer. All goods and/or services with goods being defined as “all things that are moveable at the time of identification to a contract for sale” (U.C.C. Article 2-Sales ND) expended by the consumer are dictated by supply and demand. This essay will analyze the consumption patterns of natural gas as it relates to the supply and demand of said good. Natural gas consumption for generating power is increasing and consumption of natural gas for electric power has surpassed natural gas consumption “in the industrial sector since early 2009. The power sector added a significant amount of new natural gas fired generating capacity over the last decade, much of which was in the form of efficient combined-cycle units” (EIA.GOV, 2012, p.1). In years past, while coal-fired generation was inexpensive, the natural gas-fired combined-cycle units were utilized at somewhat lower rates. In the industrial sector, natural gas use rose in 2010 and 2011, reversing a trend of declining use that lasted from “the mid-1990s to 2009. Natural gas is used in the industrial sector and manufacturing sub-sector for process heating, steam generation, onsite electricity generation, space heating, and petrochemical...
Words: 911 - Pages: 4
...Current Market Conditions Competitive Analysis ECO/365 April 4, 2016 Title of Paper Apple Incorporated has become familiar in every household and business with the invention of the Macintosh desktop computer and laptop, iPad, iPod, iPhone, iTunes and iCloud, not to mention the newest development of the Apple TV. This company was established on April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne, (Nielson, 2014) who had a vision that was to “create products that consumers will find easy to use and marry innovative technology to work productivity and personal entertainment” Mallin, M. L., & Finkle, T. A. (2011). Today Apple is a well-known product that is easy to use for people of all ages. Factors that affect demand, supply and prices… Define the market for your product… Opportunities Apple Incorporated Found The designers of the Apple products had a distinct vision in mind to product a product that would run along the cutting edge of technology. While they achieved this goal by producing a variety of product that are capable of linking together for the consumers use, they lead the market with their products. The cost of building an iPhone for example is much greater than building a competitive phone, say one on the Android system. The parts utilized to make the iPhone are much more costly allowing a much better product. Apple products allow for more clarity, and functionality as well allowing the customer an overall better product. “The...
Words: 1041 - Pages: 5
...Economic Article Analysis Raquel Daugherty ECO/365 March 3, 2013 Darryl Baker Economic Article Analysis Youthful food ingesting patterns have been altering concluded the last three periods with the consequence that most broods are confronted with fatness than ever earlier. The change from food, home dines to café foods and fast foods dine, or jumble food, are main related issue. For most parents it is relaxed for them to give their children cash to buy nutrition than to make lunches at home. The two-parent working household means that there is petite time for the parentages to fix for work and establish packed lunches for their descendants. Fast foods and restaurant meals incline to cover high levels of soaked fasts, fat and flavors that surpass the optional averages for a wells life (St-Onge et al., 2003). In adding, the children favor sodas and other drinks that comprise lot of sugar and eventually increase the level of dynamism consumption per day. Insufficient workout and accumulation of greasy deposits in the body lead to the fatness and in later on in life, such people become disposed to diabetics. The education of changing ingesting designs under the realm of a division of finances called microeconomics. Finances are the communal science that contracts with the distribution of scarce capitals by investigative how the services of demand and source control who gets what and at what price. In an unrestricted market state, the forces of request and source are predictable...
Words: 1307 - Pages: 6
...Article Analysis of Food Consumption ECO/365 Food consumption and the prices of consumptions have affected the American population in many ways. Prices have changed and accounted toward the increased prices in food consumption for the American population. Many factors have affected the price increases and types of food that are consumed. Simplicity and availability have also played a huge role in the elasticity of food consumption. The utility derived from food consumption is the preference and satisfaction of the food itself, means of obtaining the food as well as the cost of food. In the case of food consumption, restaurants have grown in significant numbers. One example of this is McDonalds, starting in 1940 with only one restaurant where as today there are more than 31,000 restaurants, serving more than 68,000 people every day (About McDonalds, 2012). In over 60 years the consumption in just this one example has surpassed expectations with leaps and bounds and has lead to the cost of consumption along with supply and demand. More people equal more consumption in all things food. Food consumption is a necessity and with today’s busy lifestyle food sources have become readily available. The market for food has increased as has the desire to make food consumption easier. Simplicity has taken over the busy lives of Americans and the food industry has run with this concept. In grocery stores simplicity is everywhere, from individualized servings to family...
Words: 1037 - Pages: 5
...Week-4 Kudler Fine Foods Lawrence Callahan ECO-365 July 31, 2013 Dan Ershadi e I | Kudler Fine Foods is an upscale / specialty gourmet grocery food store catering to high end clientele who are seeking the finer things in life. They opened their doors in June of 1998 and currently have three locations in the San Diego area (La Jolla, Del Mar and Encinitas). Each is about the same size with approximately 8,000 square feet of retail space, each providing the same products. Kudler’s is more expensive than a traditional grocery store, but plan to service a more refined customer found in more upscale areas. They specialize in (All of which are special that Kudler’s uniquely provides): * Baked goods that are baked fresh daily using only organic ingredients. * Fresh produce, if they don’t have what you want they will order it with over 350 varieties. * Fresh meat and seafood (Organic only). The Pacific Ocean is nearby so why not take advantage of it. * Cheeses and dairy products, offering 250 varieties of cheeses (Weekend cheese tasting is planned for the future). * Wine, offering extensive collections of domestic and imported wines and have recently employs a wine steward in each of their three stores to assist customers with becoming better versed in wine tasting. Their mission is to “be the premiere gourmet grocery store for those savvy shoppers who are searching for the finest meats, produce, cheeses and wine” (Source: Kudler Virtual Organization)...
Words: 1415 - Pages: 6
