Annotated List of Reference The Impact of 9/11 Terrorists Attack on the U.S Economy This source discusses the impact on the United States of America’s economy. It states that fact of the United States stock market and how the DOW movements changed majorly. The impact on the economical growth descended moments after the attacks as the economy endured a direct hit, in the public and private sectors. With this, the consumer’s confidence in regarding their spending was hugely impacted and sent the United States into a recession. This help s with my essay as I can use this information to help me prove my point; that the attacks on 9/11 destroyed the United States majorly.
Additionally, the continuously increasing steel prices leading to higher production costs and impacting product’s margin. Other players initiated price war (price differential of 5 to 10 % of Fortis discounted prices) while Fortis refused to continuously cut its prices, which caused Fortis to lose market share to its competitors. Increasing price sensitiveness of Fortis customers, decreasing market share coupled with low production utilization (70%) is increasing more and more pressure on Fortis to lower prices. In addition to its standard “4-8-14” discount, Fortis can apply price-flex strategy in order to selectively meet lower competitor prices. Question 3) Fortis marketing strategy focuses on value-added service to customers.
As the producer creating the externality does not take it into account and the consumer does not fully pay for the resulting externalities, market inefficiencies result in the form of market failure. The social costs imposed upon third parties can be alleviated by the imposition of an indirect tax on Petrol and Diesel which will in turn increase the costs of producers (P1->P2) and discourage production, causing supply to shift to the left (Q1->Q2). This occurs as the indirect taxes increase the costs of production, hence decreasing the motive to produce. However, as Petrol and Diesel are inelastic goods, a majority of the said indirect taxes are imposed on the consumers and not the producers. As shown in Diagram 2, the consumer burden of tax is greater than that of a producer as price increases due to the irresponsiveness of demand to changes in price.
Obama vs. Romney Obama vs. Romney The fight for building America upon itself compelling America into downward spiral is due to unnecessary actions that take place due to America’s money-hungry monopolies as well as the government. For money people it seems as though everyone who has money makes money, and the people that need money seem to need more every day. It seems that middle class people cannot seem to make a mortgage payment on time because gas prices are so high. The president of the United States needs to take a stand and change the money issues America is having. While both Barack Obama and Mitt Romney are family guys and in the running for becoming the president, Obama is a gentle caring man, who captures the hearts of Americans with his smile, whereas Mitt Romney is aggressive, and seems to always have to defend himself.
2.2- Different influences that have affected US Airlines, using the STEEP heading of Sociological, Technological, Economic, Environmental and Political factors Sociological factors- One of the main factors for air travellers to change their social attitude towards flying was the September 11th 2001 terrorist attack Technological factors- The global use of the Internet and the ability to compare prices online, has affected US Airlines. As well as low cost airlines offering online, cheaper prices if bought tickets well in advance. Economic factors- The possible increase in oil prices due to a likely prospect of a war with Iraq, would mean that US Airways would not be able to survive with the continuing decrease in passengers and still
Driving cars, heating buildings, producing electricity, people all need gas. Therefore, gas is directly related to people’s normal life and the global economy. Recently, the Middle East political and economic situation has been deteriorating which has led to the continuous hikes of gas prices. The oil price, the volatile situation in Libya and rumblings in Saudi Arabia are being blamed for spiking gas prices. The political turmoil sweeping across countries like Egypt, Libya, Bahrain, and Tunisia have resulted in rising oil and gasoline prices, increased inflation, devalued currencies, and diminishing stock values.
But a country such as Turkey, seeing as no trade agreements have been made between them and the US, would not be so ideal because of larger tariffs and borders between the trading industries. As an economist, one must agree that there must be a delicate balance between outsourced industries and industries on the home front. It would be best to lean towards more American products so employment rates would be much higher, but with high employment comes great inflation. The costs of many products would skyrocket if we did not have industries that had very low employee wages in other countries. And if there is too much outsourcing, there would be no jobs.
If the Buy Nothing day was to take place, there would be severe complications pertaining to transportation. People would rush to buy gas ahead of time and that would be dangerous. Also, gas prices would fluctuate when consumers would rush to buy their gas. You may be able to gauge how much gas you use and may prepare yourself for the Buy Nothing day but what if something obviously happened? What happened if your car broke down?
Attacks by terrorists or rebels on important infrastructure and pipelines are a big problem for energy consumers. A big contribution to the energy crisis and shortages are strikes in the Middle East. This is a big problem because the Middle East has the largest oil production than anywhere else, meaning if there are successful strikes in the Middle East, there will be a global energy shortage as there is nowhere else that supplies as much oil as they do. Although, the U.S is now the world’s third largest producer, about 65% of our known oil supply has already been burned. The U.S has 4% of the world’s population yet consumes 25% of the world’s oil supply.
Weather or Not Climate change, a serious and growing problem that faces the United States and the world, negatively impacts the environment, economy, and society. Climate change is the change in global weather patterns largely due to increasing amounts of carbon dioxide being emitted into the atmosphere. Some citizens and politicians deny the existence of climate change for political reasons, but we can’t afford to be wrong about this issue; our planet and lives are at stake. We cannot look to politicians with hidden agendas to verify the truth of the matter asserted, but rather scientists and researchers whose factual data proves its existence. Recent studies have shown that ninety-seven percent of scientists believe that manmade actions cause climate change (Samenow).