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Is water really scarce?
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Dec 15 2008, 4:14 PM EST by
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Thread started: Sep 13 2008, 4:07 PM EDT
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In our economy class we learned the definition for scarcity as a good that is desirable and limited. So I asked myself the question what about wather? On our powerpoint-presentation it says that 75 per cent of the whole world is covered by water.
First of all only very little said water is fresh water. In some places fresh water is not a scarce but in other places it is - like in Africa.
The conclusion is that the decision whether a good is a scarcity or not depends on the specific and not on a general situation.
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RE: Is water really scarce?
By: ,
Dec 15 2008, 4:14 PM EST
water is not scarce. it is in a continual cycle, so theoretically we have infinite water. however we do not have the means to purify said water. although we have the technology, we do not have the incentive to use it, because in most cases it would be humanitarian aid. an most ppl dont work for little or no money.
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Long term vs. short term
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Dec 4 2008, 4:11 PM EST by
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Thread started: Sep 13 2008, 4:09 PM EDT
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I found the following statement quite interesting: "A business owner’s decision to show more care for consumers is a decision to accept lower levels of profits.”
In a short term cause the business owner is making less profit because he has to put a lot of money into customer care programs.
But on the long term cause it will be possible for him to higher the prices of his products because the buyers are willing to pay for the additional service. Or the business owner can sell more products at the same price. So he will make more profit.
The conclusion is that decisions can show different impacts over time.
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RE: Long term vs. short term
By: ,
Dec 4 2008, 4:11 PM EST
I dont think anybody touched on this but customer care is a form of advertising. Firms obviously want people buying their product so they can maximize their profit and they do this by advertising, if a company losses some profits in the short term it may apear they are a friendly company who does what ever they can for the customer. But in reality they are thinking in the long term of more sales and increased profit. ;]
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desicion with incomplete data
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Nov 16 2008, 8:43 AM EST by
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Thread started: Sep 13 2008, 4:10 PM EDT
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We learned that choices are made based on three basic economic questions:
What should be produced?
How should things be produced?
Who should things be produced for?
One inherent problem of this decision is that it has to be made without sufficient information. Otherwise the market would be efficient. If, for instance, every farmer in an area is producing patatos and the weather is too cold then the entire production can be lost. Maybe producing corn would not have been as promising but corn might not have been as depending on the weather. So the conclusion is that to make a perfect decision is only theoretical concept and a function of the information available.
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RE: desicion with incomplete data
By: ,
Nov 16 2008, 8:43 AM EST
That's the problem with theorems of any kind. The idea is that we will probably never be able to record every single piece of data related to an event, so we can only speculate. Theorems help us do that accurately. All we can do is take into account all the factors with the most influence and hope that we get lucky.
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Judi Town
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Feb 28 2008, 9:32 AM EST by
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Thread started: Aug 31 2007, 1:50 AM EDT
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I think that the juxtiposistion of the poor Chinese and the rich foreigners is very interesting. The poor people were just as poor before the compounds were built, but now their poverty is simply shown more clearly. It's all realitive. While their doesn't seem to be any great atimosity, there is sill certian aspects that can cause worry for the future.
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RE: Judi Town
By: ,
Feb 28 2008, 9:32 AM EST
yes it's an interesting discussion and I like Judy's point.
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Thoughtful wiki site
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Feb 22 2008, 8:39 AM EST by
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Thread started: Feb 22 2008, 8:39 AM EST
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Hi Jason
Impressive use of your wiki to support high school instruction. I wondered, if you get a minute, if you describe how you use this site to support your instruction, what are the strengths and weaknesses of a wiki with high school students?
I have a survey on wiki use over on E Learning for educators if you have a minute to complete. It is under the surveys for US Economic History and the Possibility of a US Recession (which you are welcome to complete.
http://elearningforeducators.blogspot.com/
Greg Pratt
Mesa Community Collage
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Welcome back!
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Oct 29 2007, 12:17 AM EDT by
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Thread started: Oct 29 2007, 12:17 AM EDT
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Congratulations on your fantastic wiki, and welcome back to cyberspace. I've posted a link to your page on mine and shared it with the Economics panel. I've also e-mailed all my colleagues a link to your learning2shanghai wiki which is full of great tips.
I'm a new wikinaut and I've only just begun building a page at http://englishplace.wetpaint.com I'd love to know what you think.
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Nice work
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Sep 30 2007, 11:28 AM EDT by
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Thread started: Sep 30 2007, 11:28 AM EDT
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Nice work everyone
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Whoa
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Sep 17 2007, 7:57 AM EDT by
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Thread started: Sep 17 2007, 7:57 AM EDT
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WOW what a tongue twister.. welcome to welker's wikinomics...
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China's Economy
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Aug 22 2007, 10:48 AM EDT by
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Thread started: Aug 22 2007, 10:48 AM EDT
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I found alex's comment pretty interesting. We all know that physical labor in China is extremely cheap compared to other parts of the world, which is why so many big companies have their products made here. But what will happen when technological innovations are discovered and machines become cheaper and more efficient than human labor? If this were the case, then the production possiblities curve would expand, yet employment would decrease. This is a little confusing though, because when a country is producing at its full potential, shouldn't there be no unemployment? I guess technology plays both a positive and negative role in the economy.
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Corruption and environment regulations in China
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May 18 2007, 5:07 AM EDT by
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Thread started: May 18 2007, 5:07 AM EDT
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Thanks for the excellent comment on http://globalisation-and-the-environment.blogspot.com/ on the post:
"china-and-environmental-accidents"
I am working in this area at the moment and you comment was spot on. If you have any links to papers where this discussion takes place more formally I would be very interested.
One other blog you or your students might be interested in is http://china-economics-blog.blogspot.com/
Excellent webpage BTW.
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great job
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Apr 10 2007, 8:22 AM EDT by
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Thread started: Apr 10 2007, 8:22 AM EDT
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wow way to go class, looking great!
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Wikiwhat? Who thought of this silly name?
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Feb 15 2007, 9:19 AM EST by
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Thread started: Feb 15 2007, 9:19 AM EST
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Wikinomics, where you control the content. Come here to show your peers and your teacher how much you grasp from the course!
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