econ100-week5

anewecon

I attended a film at uni called A New Economy. My fav part was the focus on robots and open source. The urban gardens were also enjoyable.

anewecon2

A New Economy part two. Mostly notes from the film.

econ100-deadweightloss

In ECON100 we learnt about dead weight loss and how you get more if tax is applied to certain items rather than everything. GST.

econ100-elastics

Elasticity is the responsiveness to react to changes.

econ100-elastics2

elasticity of supply is usually larger in long run. More flexible.

econ100-elastics3

The question was to list the factors that make demand for a good more elastic.

econ100-elastics4

These are the factors.

econ100-elastics5

In class we looked at deadweight lose and sex workers.

econ100-extemalities

Pollution.

econ100-minwage

Min wages and a few tips for the test this week.

econ100-poach

Looked at poachers and rhinos. Farm a little of the rhinos horn every year - it grows back and helps increase the supply so price is lower and less likely to rhinos to be killed.

econ100-supplytax

Tax and the affect it has on supply

econ100-taxpayers

econ100-tsellcorn

Different prices of corn - 5, 4, 3. elastic - 10, 13, 18 demand. inelastic - 10, 11, 12.

landscape1

A landscape. No life drawing this week.