Chris Li – ISP

18 06 2011

Marked Journals

Journal 1

Journal 5

Journal 6

Journal 10

Four Comments to be Marked

Comment 1

Comment 2

Comment 3

Comment 4

Additional Comments

Comment 5

Comment 6

Comment 7

Comment 8

Comment 9

Comment 10





Outsourcing Garbage Collection

24 05 2011

The view of the public.

The view of an economist.

Discussion

  1. Do you support Rob Ford’s plan to outsource as many government jobs as possible?
  2. What do you think the limit to the jobs that the government can outsource should be?
  3. What do you think is a good way to remedy the information provided to the public?




Changing Supply and Demand of Traditional Kimonos

6 03 2011

This article talks about the production of traditional Japanese kimono and how its increasing number of competitors and people’s changing taste has negatively influenced it. Firstly, the innovations in technology have changed the Japanese culture drastically. Less people become interested in kimonos and more into the modern culture. Due to the demand determinant “buyer’s preferences,” less and less people will want to buy kimonos. This will cause the demand curve to shift to the left.

Also manufactures in China are capable of hiring cheap laborers to produce kimonos. Consequently, China’s mass production, creating kimonos with lower quality, but also much lower price, has been able to continuously replaced traditional Japanese kimono makers. Less Japanese kimonos are in demand. Therefore, due to the determinant “price of substitute good,” the demand curve will further shift to the left.

With all this competition and the changing culture, less and less people specialize in making traditional Japanese kimonos. Due to the supply determinant “number of sellers,” this would cause a shift of the supply curve to the left, but to a much smaller extent when compared to the demand curve. This will result in the graph below.