Economics Essay

2434 words - 10 pages

INTRODUCTION

Recently prices of chicken’s egg have rose in a higher rate rather than other grocery items in the kitchen market. Although prices of every commodity items in our country is increasing day by day, but the prices of chicken is increasing dramatically. Because of this change in price, general people are not able to fulfill their demand of egg with their income level. So people are facing a big problem. And now it has become a common phenomenon in our grocery market.
In our country, egg is a source of protein of the general people. And now which is out of their reach. So people are very disappointed about ...view middle of the document...

The number of farms was around 150,000 in 2007 across the country.
Over the past year since 2007, half of nearly 150,000 poultry farms have been facing losses due to bird flu attacks, forcing tens of thousands of people out of jobs, according to MM Khan, secretary general of Bangladesh Poultry Industries Association (BPIA).

To overcome the crisis, industry operators want the government to conduct regular vaccination but the government is yet to respond. The virus had been spread through – out the country affecting all types of farms, including the government – owned farms and private sector hatcheries. The attacks of bird flu have further worsened the situation this year. Egg production tumbled to 1.5 crore pieces against the requirement of 3 crore pieces.

Now it is a very unfortunate situation. People will have to bear the brunt of increased prices of poultry as well as the dread of the disease.

In this situation we all are clear that because of the bird flu attack the chicken firms are in bad threat. Lots of firms have closed and others are also going to close because of the situation. In recent years, among the overall chicken firms of the country almost 47 percent firms have been closed. And 26 percent firms have been closed only because of Bird flu. 21 percent is because of other reasons like load-shading etc.

Here showing a figure of the view of our Chicken firms:

[pic]

26% 21% 53%

Figure No.1 Chicken firms situation

And after being closed this portion of firms the production of eggs has been decreasing in numbers.

Due to bird flu, increase in wage rate, production cost, load-shedding etc supply become very low in few years. But as demand remain unchanged at the very begging of the situation, price of egg become very high. And then demand has also decreased. Over the past years since 2007, nearly half of poultry farms have been shutdown. As a result supply of egg has decrease

[pic]

Figure No.2 Changes in Egg production (yearly)

.

Here showing scenario from the following graph of changed supply curve.

P S3 in12 S2 in 11 S1 in 07

36

27

18

9

0 3 6 9 12 Q

Figure No.3 Changes in Supply curve

As a result supply curve of egg has shift inward in few years. Before the year 2007 supplier used to supply a large quantity of Egg at the same price; they are being supplying now. In our graph situation of egg supply of the year ago 2007 is shown by supply curve S1. S2 is the supply curve of egg of a year ago and S3 is recent year supply curve.

Effects of bird flu have increased the price of eggs. First of all before 2007, the price of per hale (4 pieces) egg was 12 taka. In 2011, in the difference of three years the price of per hale egg has increased and become 22-24 taka per hale. And in the begging of the recent year 2012, per hale egg become...

Other Essays Like Economics

Economics Essay

1876 words - 8 pages ECONOMICS ASSIGNMENT NAME: Stacey Turner STUDENT ID: 17556105 UNIT NAME: Economics 100 TUTOR: Andrew Brannan TUTORIAL DAY AND TIME: Tuesday 8am-9am The Newspaper article in the US Times “Why there is no lime industry in America anymore“ discusses bad weather, diseases and crime which have hit Mexico and Florida imposing threats to limes being grown in the region. This is essentially destroying the lime trees as well as

Economics Essay

787 words - 4 pages 7303AFE Economics Microeconomics Assignment Ning Li s2782650 Lin Tan s2740728 Huy, VO s2862772 WORD COUNT: 531 Question 1 1.1 a) In 2012, it was the second driest in 60 years, and the 2011-2012 winter was unusually cold (Arbour, 2012). The weather in Spain, the world’s largest producer, was unexpected bad during harvest season. As a result, the output of olive oil was dramatically decreased, consequently as little as half of

Economics

2637 words - 11 pages . These points validate Holfstede's statement on Sweden's power distance. Today, uncertainty in economics is undeniable with the recent downturn of the United State's economic problems. This has affected everyone globally. Hofstede explains to us that Sweden is not threaten by the unknown impact that the economy might have on society in the foreseeable future. This dimension shows that society in Sweden has a more relaxed attitude. Given their

Economics - 4571 words

4571 words - 19 pages 1. BASIC ECONOMICS Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. (L.Robbins 1935) Economics is the social science that examines how people choose to use limited or scarce resources in attempting to satisfy their unlimited wants. Wants - This is simply the desire of the citizens of a country. Each individuals wants are different and varies time to time

Economics - 5448 words

5448 words - 22 pages . 17, No. 3, Spring 1978, pp. 79-85 Coppens, F. , F. Lagneaux, H. Meersman, N. Sellekaerts, E. Van de Voorde, G. van Gastel, Th. Vanelslander, A. Verhetsel, Economic impact of port activity :a disaggregate analysis The case of Antwerp, NBB Working Paper No:110, 2007. Coto-Milla´n, P. et al. (eds.), Essays on Port Economics, Contributions to Economics, 2010 Davis, H. Craig. “Regional Port Impact Studies: A Critique and Suggested Methodology

Economics - 2782 words

2782 words - 12 pages Lecture 2. Basic Economic Problems Economics is the science of making choice under conditions of scarcity. What are the basic issues about which choices are to be made? Any society must make choices about three important problems. They are 1. What to produce and in what quantities? Food or weapons; if so, in what quantities? Is it more food and less weapons or vice versa? 2. How shall goods be produced? Electricity from thermal power or

Managerial Economics

516 words - 3 pages .what is meant by managerial economics? Managerial economics is a study of application of managerial skills in economics,more over it help to find problems or obstacles in the business and provide solution for those problems.problems may be relating to costs, prices, forecasting the future market ,human resource management, profits etc. Managerial economics is a study of application of managerial skills in economics, more over it help to

Economics Essay

1260 words - 6 pages From the tutorials and lectures, what I have learnt is that economics is the study of how people choose to use resources. Those resources include the basic things like land, food, water, human resources and also include abstract things like time, space, experiences. The fact is that our resources are limited, that can be seen as scarcity of resources. However, people’s needs and wants are unlimited. So, the basic question is that how can our

Behavioral Economics

2030 words - 9 pages All of economics is meant to be about people’s behavior. Behavioral Economics is a field of economics that studies how the actual decision-making process influences the decisions that are reached. The standard economic theory is known as neoclassical economics. Neoclassical economics stops short of trying to explain where people’s preferences come from, but it does not take account of the direct influence of other people’s behavior and social

Economics Exam

2588 words - 11 pages Victorian Certificate of Education 2013 SUPERVISOR TO ATTACH PROCESSING LABEL HERE STUDENT NUMBER Letter Figures Words ECONOMICS Written examination Thursday 31 October 2013 Reading time: 3.00 pm to 3.15 pm (15 minutes) Writing time: 3.15 pm to 5.15 pm (2 hours) QUESTION AND ANSWER BOOK Structure of book Section Number of questions Number of questions to be answered A B 15 4 15 4 Number of marks

Managerial Economics

4565 words - 19 pages Managerial economics as defined by Edwin Mansfield is "concerned with application of the economic concepts and economic analysis to the problems of formulating rational managerial decision."[1] It is sometimes referred to as business economics and is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units. As such, it bridges economic theory and economics in practice.[2] It draws

Related Papers

Economics Essay 533 Words

533 words - 3 pages they wanted a quick reward and they would rather get the $100 today than wait till the next day to get $102 ("NOVA Mind Over Money"). Adam Smith is the father of economics and the writer of the book "Wealth of Nations". Groups of people with high security numbers bid highest for the bottle of wine because they were influenced by these high numbers. People who had watched a sad movie bid higher because of the emotional influence

Economics Essay 781 Words

781 words - 4 pages Economics is the social science of making sufficient choices or decisions and studies how people interact in their society in an economic way. The first chapter introduces the subject of economics and unfolds what it is all about.We live in a society where economics is a valuable need in order for us to understand and handle any problems that maybe occur in the future. The basic economic problem is scarcity ; where people's wants and needs are

Economics Essay 1089 Words

1089 words - 5 pages ; however, when revenue from the added unit is less than cost, production should decrease. When both marginal revenue and marginal cost are equal, the firm maximizes profit (Basic Economics, 2011). Balancing Fixed and Variable Costs Every year businesses collapse because the owners fail to produce a profit. In order for businesses to turn a profit, they must find a way to keep production costs down. However, there are some costs associated

Economics Essay 736 Words

736 words - 3 pages Internet Article/Economic Theories University of Phoenix ECO360/Economics for Business I Amy Green June 21, 2007 Supply, Demand and Price In applying economic theories in today’s society is a broad case of reality. One must understand how policies most be carried out effectively to keep valued judgment separate form analysis. A great economist must divide economics into normative, positive and descriptive economics in order to