Japan bans Fukushima rice shipment due to contamination

Japan has banned shipments of rice from an area near the nuclear power station at Fukushima after high levels of radioactive caesium were detected.

As people knows, at the beginning at 2011, Japan gots a horrible earthquake and tsunami which caused the damagae of Nuclear power plant. It is resluting in radiation leak.

   Luckyily, the material was detected during pre-shipment tests and the contaminated rice had not been sold to consumers.

   even though, the authorities has annouced that it is the first time they found from shipment. But still, the damage from eathquake has bring series of trouble about foods. 

it terrified people to export goods from Japan, , such as green tea, mushroom and beef. 

at the mean time, it hurting the incomes of farmers in some parts of Japan also affected the economic in Japan.

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Elasticity of Demand VS Inelastic demand

- What is the Elasticity ?
     Elasticity = A measure of responsiveness. ( MEASURE means measure how much of something changes when there is a change in/ of the factors that determine it.)

- Elasticity of Demand = PED ( Price Elasticity Demand)
      Measure how much the quantity demand changes when the P of product.
   
               The equation for it  PED = %ΔQd  /  %ΔP
        when PED = 0 it is perfectly inelastic
     

- Inelastic Deman : PED greater than 0,
                             PED smaller than 1.
         
      A change in the P leads to a proportionally smaller cange in the Qd. ( totally revenue gained by a firm will increase)
         Inelastic D + better Revenue = Raise the P

world news on 12nd of November

OECD warns that global economy is slowing

 The Organisation for Economic Co-operation and Development (OECD) says that every economy it monitors suffered a slowdown during September.

           The  OECD's Leading index for month highlight turningpoint in economis activity.

               this company representd developed economies including the US, UK,and Japan. And the data

 

Ryanair profits from higher revenues

Ryanair has reported a 23%  rise in second quarter profits, and said its full-year results will be better than previously expected.

The budget airline made a pre-tax profit of 463m euros ($637m; £398m) in the three months to 30 September, up from 378m euros a year earlier.
Ryanair said its annual profits would be 10% higher than its previous target.
It said it was continuing to see higher revenues per passenger offset high fuel costs.

Ryanair's chief financial officer Howard Millar, expanded on this point, saying: "So far we have not seen any impact from recession.

however, people knows that Ryanair is the cheapest fly company in euorpe, i personal think it  could be the only way that Ryanair is gathering more profits than before , while other companys are suffering from recession. ; because Ryanair is the cheapest and people are only afford it.