Consumer prices in the Czech Republic in October increased compared to the same period last year by 2.3 percent from 1.8 percent in September. In comparison with the ninth month of the year, was an increase of 0.3 percent. The growth was influenced mainly by higher prices for food and soft drinks, clothing and footwear. He said the Czech Statistical Office.

As for individual foods such as bread and more expensive by almost 26 percent, ordinary bread by almost 35 percent, sugar by almost 28 percent, coffee by more than 26 percent, cacao by more than 18 percen

But also increased housing prices, the price of natural gas increased by 12.5 percent and electricity by 4.6 percent. Prices of goods rose by 2.9 percent and prices of services by 1.2 percent.

But things not only became more expensive some things became cheaper prices stay spas and domestic recreational stays. Cheaper prices are still audio-visual and photographic equipment and appliances and household appliances.

Samsung vs Apple 2

Patent disputes both companies stretch from September, a court in Germany forbade selling Samsung Galaxy Tab because of his looks strikingly similar to the iPad. Apple'saction and served successively in other markets.

Apple filed a new action for the appearance of the new Galaxy Tab in America. And During the court hearing in California, where representatives of Apple trying to prove that the new Galaxy Tab copies look the iPad. Judge Lucy Koh started very unconventionally. She took the two competing computer tablet over his head and asked lawyers Samsung, if you can determine which tablets produced their client. The application server according to Apple Insider, a South Korean defender off guard and after a moment of silence answered very evasively. "Not from this distance, your Honor," said the lawyer. The situation was trying to save the second Samsung lawyer, who then answered correctly.

Samsung's reaction on these things was, that they changed the designe Galagy Tab 10.1 and they gave new name to this Tab: Galaxy Tab 10.1N 

Galaxy Tab 10.1

Galaxy Tab 10.1N

New law in Australia

One of the strictest anti-smoking legislation approved on Monday the world's lower house of the Australian Parliament. His part is that the box must have a uniform brown-green packaging and must bear the manufacturer's logo. Tobacco group Philip Morris because of the herds before the court the Australian government. Punitive damages could amount to several billion dollars.

After being approved by law to take effect from mid 2012, the government said that it is "one of the most important measures of health in Australian history".



Thanks the new law will Australian retailers need to cigarettes, tobacco and cigars sold in a single brown-green packaging. Three quarters of the package will cover a significant warning of health effects of smoking, including pictures cancer oral cavity. So far, only warnings occupy 30 percent of the size of the box.

Australia wants to reduce by 2018 the number of smokers from 15 percent to ten percent of the population. Medical authorities say that die every year from diseases associated with smoking at 15 000 Australians.

Nobel Prize in Economics

This year's Nobel Prize in Economics American economists won by Thomas Sargent and Christopher Sims for empirical research on the causes and consequences in macroeconomics. In Stockholm, the committee announced the Nobel Prize in Swedish Academy of Sciences.

Sargent and Sims have developed methods to determine how the gross domestic product and inflation affected by the temporary rise in interest rates or vice versa tax cuts. Also investigated what happens when the central bank permanently changes the inflation target, or when the government modifies its plans for a balanced budget .

Laureates of the price of a diploma, medal and a check for ten million Swedish crowns to take over the official ceremony of the 10th December, the anniversary of the death of Swedish inventor Alfred Nobel.Based on his legacy are valued individuals who contributed to peace, scientists and writers.

Nobel Prize in economics

Nobel Prize in economics is not one of the original price for Nobel in his testament of 1895. Folded it up in 1968 to commemorate the Nobel Swedish central bank Sveriges Riksbank.

Erste group

Austrian Erste Group, which controls the Česká spořitelna, recognizes after three quarter loss of 920 to 970 million euros. This is due to the revaluation of debt securities affected countries European debt crisis and the revaluation of subsidiaries in Hungary and Romania. Without these measures should profit 700 million euros. Shares of banks on the Prague Stock Exchange in response to this report, fell 17.51 ​​percent. For the whole of this year expects the bank as a result of these steps a net loss of approximately 700 to 800 million euros. Without these measures should gain 850 to 950 million euros.

Erste reduced its exposure to Greece , Portugal, Spain ,Ireland and Italy, from 1.9 billion euros at year-end 2010 to 0.6 billion euros at 30 September 2011. It also revalued to market value sales of credit insurance, the securities of CDS.

Erste also completely write off the company's value (goodwill), the Hungarian subsidiary of € 312 million before tax and create additional reserves and provisions for losses on loans and advances totaling 450 million euros.

Samsung vs Apple

      In 9 Semtember court of law in Germany decided, that new tablet from Smasung must be give out of distibution. The Apple said, that Samsung coppy the desing od their iPad.
      Düsseldorfs court of law banned selling tablet Samsung Galaxy Tab 10.1 according to preliminary research in August, but it was only to Friday 9 September. Thanks this action, SAmsung cannot show their product on trade show in Berlin IFA. After this Samsung have to get out of distribution Galaxy Tab 7.7 because Apple have the same problem with it. Apple claim that these mobile computer break registered desing of iPad from 2004.

Apple iPad versus Samsung Galaxy Tab 

      

     This is not new problem because Apple sued Samsung in the same things in Australia, USA or in Japan too. But new is, that Samsung sue Apple in many things about their iPads and iPhones because they said that Apple break their patent about technologies like UTMS and 3G. This dispute is specifically about about iPhone 3G, 3GS and 4 and about both generations iPads. These disputes are their answer on Apple‘s actions. And I hope that Samsung will win at the end, because I don‘t like Apple. Because I thnik that their products is so expensive considering that it‘s the same quality like Samsung, HP and etc.

Lemond stand game

I played Lemond stand game so I have some tabels for you which explained my strategy. But...my strategy is not good xD

Law of Supply, Demand and explanation of Giffen and Veblen goods

Law of Supply 

There is direct relationship between the price of a commodity and its quantity offered fore sale over a specified period of time. When the price of a goods rises, other things remaining the same, its quantity which is offered for sale increases as and price falls, the amount available for sale decreases.The law of supply, in short, states that ceteris paribus sellers supply more goods at a higher price than they are willing at a lower price. For example: If ten people want to buy a pen, and there's only one pen, the sale will be based on the level of demand for the pen. The supply function requires more pens, which generates more production to meet demand.

Law of Demand

We have stated earlier that demand for a commodity is related to price per unit of time. It is the experience of every consumer that when the prices of the commodities fall, they are tempted to purchase more. Commodities and when the prices rise, the quantity demanded decreases. There is, thus, inverse relationship between the price of the product and the quantity demanded. For example: For example, according to the law of demand, other things being equal quantity demanded increases with a fall in price and diminishes with rise to price. Now let us suppose that price of tea comes down from $40 per pound to $20 per pound. The demand for tea may not increase, because there has taken place a change in the taste of consumers or the price of coffee has fallen down as compared to tea or the purchasing power of the consumers has decreased.

Veblen Good

High-status items such as luxury cars, expensive shoes or pricey watches remain appealing to certain consumers as long as prices remain high or increase. A decrease in the price of a Veblen good could cause it to become less exclusive, which may reduce consumers' fondness for it.

Giffen good 

Consumer item having the paradoxical quality of being in greater demand when its price rises, and lower in demand when the price falls. Typically, a giffen good (such as corn in 19th century England and the alcoholic beverage 'shochu' in modern Japan) is one considered 'essential' by a section of consumers. As its price increases, the consumers have to spend a greater portion of their income to maintain the same level of consumption. Since they cannot now afford the more expensive substitutes, they end up buying more of the same good. The opposite happens when its price falls.

Do you know, why the price of oil is increasing???

Although we still have enough reserve of oil, the price was in previous weeks increasing a lot. The reasons may be almost invisible for common people. My task is to present some of them to you. The first is rebelion in Libye because befor the rebelion had Libya produce 1.6, milion galons of oil every day and now it had reduce to 85% of the original amount. The second reason is fear of loosing Saudi Arabia as it is also one of the biggest producer of oil. But the real factor is OPEC - Organization of Petroleum Exporting Countries. This organization has to decide the price of oil, and control 75% of all produced oil and specify amount of oil that producer may quarry. So at the end, I can say, as a beginner in economy, that price of oil is affected more by things, we will never get together with oil and that is a mircle of economy and reasons what is happening to price of oil.

LINK

Some information about me...

Hi everybody :) I am Misa and this is my new blog for my ib economy class. I decided to study it because I think thaht is interesting subject and I can use it for future. But now, it's so hard for me, because I can't english well, but I try it to improve it.