The Big XII has seen a lot of changes in the past few years, but this could be one that we are all on board for. At WVU they have experimented with selling beer at home games and so far it has been a success. Would you consider this a "laissez-faire" type policy? How does this relate to more pressing issues like gun control, abortion, or marijuana legalization? Does the policy depend on the good to be regulated, and why?
I don't always like memes, but when I do they are about economics.
Ever thought of brewing your own beer? As it turns out, many do in Africa. This is a market that is untapped though, which means profit opportunities could abound. "Brewers are betting that Africa’s fast-growing middle class will want to trade up." What is the author implicitly saying about beer in the previous statement? At the end of the article it is said that the firm expanding its beer distribution is a "force for good", do you agree?
As we've learned, our choices are affected in many ways. In this Economix article about the "Beer Recession" we see the classic normal good scenario. If drinking beer at a bar is a "normal good" demand will fall as income falls, as we would predict! Also in the article, brewers are quoted saying that the hefty tax on beer has caused the dramatic drop in sales. You'll be able to answer this question more easily as the semester progresses, but how does a tax on beer change the quantity demanded? Do you expect the tax to lead to a big drop in quantity demanded, or only a little bit of a drop? What does it depend on?
In The Economist news magazine, Baobab - a blogger, writes about how a beer company has come to aid Africa. Often in the news firms are portrayed as taking advantage of the people they sell to. However, there very existence could potentially mark a significant change in a countries prosperity. We'll talk later on in the semester about how/why firms operate and free market capitalism, but for now I'll leave you with the question - Do you think that this company is being philanthropic by it's venture in Africa? Or, is it simply seeking to profit in a country that is haunted with hunger issues?
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