Chicken Little is an Increasingly Rare Bird

Chicken Little is an Increasingly Rare Bird

By Michael Coon  / 13 April 2023
Photo by Artem Beliaikin on Unsplash Production of boiler chickens (those raised for their meat, not eggs) in the US...
EVs: Driving Change at Convenience Stores

EVs: Driving Change at Convenience Stores

By Veronica Horton  / 11 April 2023
Photo by John Cameron on Unsplash The United Nation’s (UN) recent report on the impending changes the world is facing...
Who’s In The Driver’s Seat: The Changing Dynamics of Auto Production

Who’s In The Driver’s Seat: The Changing Dynamics of Auto Production

By Veronica Horton  / 4 April 2023
Photo by Possessed Photography on Unsplash If you were shopping for a new car during the pandemic or even just...
China’s Population is Declining – Too hot, too cold, or just nice for its Economic Development?

China’s Population is Declining – Too hot, too cold, or just nice for its Economic Development?

By Sunita Kumari  / 23 March 2023
On Tuesday, January 17th, 2023, China’s National Bureau of Statistics released the country’s population data to be 1.41175 billion in...
The Externalities Effect of Child Firearm Fatalities in the States

The Externalities Effect of Child Firearm Fatalities in the States

By Sunita Kumari  / 21 March 2023
A study published on July 8th, 2022 by the Kaiser Family Foundation (KFF) analyzed how gun fatalities among children and...
Why is Everything Getting So Expensive?

Why is Everything Getting So Expensive?

By econwpadmin  / 16 March 2023
Prices on everyday products like groceries and diapers have increased dramatically in the last couple of years, with inflation often...
Understanding the U.S. Labor Market – A January 2023 Snapshot

Understanding the U.S. Labor Market – A January 2023 Snapshot

By Sunita Kumari  / 9 March 2023
Photo by Luis Melendez on Unsplash According to the Federal Reserve Economic Data (FRED) website, April 2020 recorded the highest...
The New Economics of Car Production

The New Economics of Car Production

By Veronica Horton  / 7 March 2023
Photo by Dan Dennis on Unsplash Engineers working at some of American car maker Ford’s facilities in Europe might be...
Looming Water Crisis – What can YOU do to Conserve Water?

Looming Water Crisis – What can YOU do to Conserve Water?

By Sunita Kumari  / 23 February 2023
www.britannica.com Looking at the droplet in the infographic, only 2.6% of the world’s water supply is fresh water, while the...
U.K. Economy Three Years after Brexit

U.K. Economy Three Years after Brexit

By Sunita Kumari  / 7 February 2023
Photo by Jamie Street on Unsplash Brexit is the term used to mark the event when the United Kingdom (U.K.)...

Economies of Scale

Got (Oat) Milk?

Plant-based food product alternatives are changing the way we eat. Until recently, plant-based milk companies catered to individuals who were unable to consume dairy products, nowthough, plant-based milks are becoming mainstream dairy alternatives as evidenced by theiravailability at Starbucks, Target,…

Costs and Benefits of Solar Powered Cars

A new start-up company has developed an electric car that charges while you drive. The German company, Sono, largely funded development of the car through crowdsourcing. The vehicle is almost entirely covered with solar panels, which allows the car to…

Food & Wine: “The Craft-Fishing Revolution Is Here, Now”

You probably don’t expect to learn much about economics in Food & Wine magazine, but here is a great story about the “craft fishing” industry. It includes economic concepts such as “catch shares” (to decrease overfishing), economies of scale, and product differentiation and improving quality to move a market from perfect competition to monopolistic competition. It details how one fisherman has worked to change the supply chain to a direct-to-consumer model that provides the consumer (restaurants) with higher quality fish that they can sell to discerning diners at higher prices, and also helps the fishermen ensure adequate compensation for their efforts.