Friday, April 18, 2014

Update on the price of limes. Quantity Supplied is still less than Quantity Demanded---only more so now...

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Visited my local Kroger (burbs North of Columbus, Ohio) to do some shopping and checked in on the price of Limes--- $1.49 each today ...

Family Dollar is closing lots of its stores. Is this a sign that it is an Inferior Good?

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Is the retail chain Dollar Family Stores an "Inferior Good" or a "Normal Good"? Here is an article regarding the clo...

The Opportunity Cost of Water Use: California Marijuana Edition.

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I previously posted this graphic that shows how water intensive some agricultural products are.  California is a major source for these food...

Headline from the Washington Times today. They must have boosted hiring in the their Dept of The Obvious...

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Made me chuckle.  :) Washington Times
Thursday, April 17, 2014

Sriracha Sauces loss is my gain. Nice example to show how a potential change in fixed costs and variable costs affect a firm.

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Sriracha sauce maker considers relocation The makers of the most popular Sriracha sauce (Huy Fong Foods) is facing a dilemma.  A by-prod...
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Wednesday, April 16, 2014

Community Colleges get a boost. To state the obvious, enhanced skills are the pathway to the jobs of the present and future.

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Obama to Announce Targeted Job-Training Initiatives "The White House on Wednesday will announce $500 million in grants aimed at incr...

Supply and Demand Lesson: Fruit and Vegetable Edition. Salad bars are about to become more expensive.

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This graphic, from the Wall Street Journal, shows how the prices of various fruits and vegetables are expected to rise in the near future du...
Monday, April 14, 2014

Income vs Substitution Effect. Both explain the downward sloping nature of a Market Demand Curve.

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My PPT slides to explain the two main reasons a Market Demand Curve is DOWNWARD sloping. Hope it helps someone out there who is confused a...
Friday, April 4, 2014

Nice GIF showing how Chicago neighborhoods have changed over time in terms of income inequality.

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Here is a GIF ( CBSChicago) showing the change in the Greater Chicago area in terms of median income. De-industrialization as we moved from...
Thursday, April 3, 2014

If the Ukraine falls food insecurity will rise in many parts of the world...

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From the USDA: Over the last 15 years, Ukraine has emerged as a major supplier to world markets for several agricultural commoditi...
Wednesday, April 2, 2014

An "eggs-elent" article to teach various components of Demand.

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A very short article in Quartz regarding the decline in the consumption of eggs in the US and how it can help teach the basics of Demand. ...
Tuesday, April 1, 2014

What is the price of a Lime in your neck of the woods? Photos welcome if you happen to be out shopping!

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Lot's in the news about the current lime shortage in the US.  Most limes we consume come from Mexico. Due to weather AND gang activity, ...
Friday, March 28, 2014

Nice short video about the progress the world has made in the past 50 years (20 for that matter). Louie Armstrong was right...

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It's a wonderful world....Feeling down about the state of the planet and its inhabitants?  Here is a little pick me up that will put thi...

Explain-er with real life example: The difference between accounting costs and "economic" costs. This is why every one hates economists but love their accountant.

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Here is a graph (HT:  Big Picture Agriculture ) that shows the relationship over time (1972-2012) between the Average Total Cost ("ATC...

A short lesson on the difference between a "Constant Cost" and "Increasing Cost" Production Possibilities Frontier. A must know for AP Econ!!

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Understanding the difference between a "Constant Cost (Straight Line)" and an "Increasing Cost (Concave)" Production Pos...
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