Essay on Eco Week 1

Submitted By gcason00
Words: 978
Pages: 4

Individual International Trade and Finance Speech ECO 365

The slight decline in unemployment is moving the economy in the correct direction. There are unemployed worker that are the children going back to school, is make it hard on the needs of the unemployed worker. There is time when the economy is disappointed with the unemployment rates. The retail sales are down, but the housing market was up in August of last year. There were problems in the manufactures, hiring new employees. This calculates the of price elasticity is the percent change in the quantity of the demanded, the price elasticity tell the change in price on the item that consumers need. The total revenues calculated are by the quantity of goods, by the price of the service. Elasticity is an important part of demand and the revenue.
The labor department is look at the unemployment rate falling slightly to 7.5% in August. This was not look at as a strong point in the economy. The economy foundation of assistance is in the major trading that has happenstance the problems in the economy. Although the labor Department is showing the economy in “moving in the right direction of unemployment” the overall number is excessive. The worthiness of the report is look, is can fool other in to thinking that unemployment rate are increasing. The change in the nation unemployment is down by 1.1% this may it appears that the economy is on an upswing but it moving slowly. The 57,000 job that were prepared was not that awful as the 128,000 that was lost early that year. The nation’s factories have fell in producing good, and service, in the year to come the economy will change it direction in the need of the country, this will allow the unemployment rate to decrease.
Everyone is familiar with the fluctuation of gasoline is up and down, the as the unemployment rate is high less people are able to obtain necessitate of daily living. The price of gas has increased a great deal in the last ten years. In 2000 the price of gas was a low as $1.50 and as high as $2.50, compared to the price of gas now at a high of $4.50 in 2012, this make it difficult for unemployed worker to make ends meet. Shopping for food is the same, milk was price at about $1.30 and now milk is about $3.50. The unemployment rate has not increase in the last ten years; unemployed works are paying twice as much you there needs at the same price as when the cost of living was lower. The demand for gas and food is at a high, but the inflation rate is higher. There are many jobs that are given each year to the children in school, at the end of the summer the unemployment rate is higher because of this. The jobs that were made for the children, now the unemployed worker has to take these jobs. The unemployment insurance pays the unemployment benefits are paid the eligible worker that is unemployed and meet the requirements.
The elasticity is calculate as it is written, Chron, “How to Calculate Price Elasticity
The price elasticity of a good or service is calculated as the percent change in the quantity demanded of a good divided by the percent change in the price for that good. Price elasticity employment greater than one indicates that the good is elastic, that quantity demanded is highly sensitive to changes in price. For example, a 1-percent change in the price of chicken might cause a 5-percent decrease in sales. Price elasticity less than one tells you that your good is inelastic. In this case, price changes will have a small impact on quantity demanded. If a good/service has a price elasticity of one, also called unitary…