Saturday, September 15, 2007

Determinants of Supply and the Market for Pork in China


Thanks to Jason Welker for this timely article and idea. Since we just studied Supply Determinants, remember:
S - Subsidies and Taxes
T - Technology
O - Other goods
N - Number of sellers
E - Expectations
R - Resources, raw materials
Using your knowledge of the determinants of supply, analyze what is happening to the market for pork in China. Several of these determinants are at work here. Which way is the supply curve for pork shifting, and why? Also since the price of pork is going up, what effect will it have on the demand for other items? Remember substitutes and complements.

Is the U.S. ready for Universal Healthcare?


Read this article from the NY Times, then do your own research and decide, "Is the average American voter ready for a government run system of Universal Health Coverage?"