This joke relates to RECESSION and INFLATION
There was once a man who claimed to be a WALKING ECONOMY. "what's that", someone asked. The man replied, " Look my hairline is in RECESSION; my waistline is a victim of INFLATION..and both are putting me into a deep DEPRESSION". Got it? :)
Wednesday, May 21, 2008
Monday, May 19, 2008
hELLO 6n
This is officially the last week before the inter-CT econs blog competition comes to a formal closure. Well, i am pleasantly surprised and gratified by the quick respond to the article I posted on $2.80 haircut. Yes, David is absolutely correct - Economics is COOL... cos it deals with a lot of stuff that you and I face everyday. Alfred Marshall ( one of the greatest economists who ever lived and a teacher of John Maynard Keynes - another legendary economist) once said " Economics is the study of Mankind in the ordinary business of Life". So, keep the fire in your belly burning as u learn and apply what u have been taught over this short span of time.
. One day, who knows you may become another LEGENDARY ECONOMIST ... who hails from the land of the little RED DOT and even more special -the econs tutorial class of 08S6N. Dreams do come tRue....Yeah.
mr tan:)
. One day, who knows you may become another LEGENDARY ECONOMIST ... who hails from the land of the little RED DOT and even more special -the econs tutorial class of 08S6N. Dreams do come tRue....Yeah.
mr tan:)
Snip Avenue
Note: i swear i did this b4 i saw mr tan's e-mail.
Refering to today's article on the Home section, "Forget JB - all head for a snip at Snip Avenue", I am once again reminded how practical and useful economics is in understanding the world around us, and would like to horne my skills by providing some insights on the issue, looking beyond what the layman would understand from the article. It is deeply regretable that I could not publish the article here due to copyright issues. There are many concepts that come to mind while look at the article. Here are my thoughts, pardon me if they seem jumbled.
In short, the article showcases "a new kid on the block" offering below normal prices for haircuts, that of $2.80, putting many other barbers out of business and apparently still floating.
Through this article we understand that the haircut industry is not perfectly competitive market. Even though there are many small buyers and sellers of this particular service (one facet of perfect competition), there apparently is incentive for a firm in this industry to lower its price, showing us that this firm does not experience what a normal PC firm's demand curve, i.e. not perfectly elastic.
If one were to look at the article on the surface, one may reason that the low price is due to a lower quality of service provided. Taking into account income elasticity, we can look at the situation this way: this salon is quick to respond to market sentiments, that of a looming recession, and thus changed the quality of goods which he would like to provide, and hence attract more people who wish to pamper themselves with a haircut but of an inferior kind.
Nevertheless, apparently, they provide very good haircuts, with one polytechnic student reportedly "emerging from the shop sporting the layered look he asked for 'like the singers in 5566'". So at one hand, they offer better service at lower price. How do we account for this?
Taking into account ceteris paribus and equal cost conditions for all salons, we see that although this new salon may not experience that much revenue from the haircut market, the demand curve for the perms and highlights (complementary goods) market does shift to the right, which is how this new firm earns money. The owner of the shop implies that this is the kind of customer that he wants in the article.
Also, the LRAC for this salon continues to fall as output expands over a wide range because according to the owner, "the mass volume can cover the cost". A case for natural monopoly?
Any comments on this possibly disastrous analysis of the article?
Cheers for this last week of school. We have only one and a half years left. Cherish and have fun.
David.
Refering to today's article on the Home section, "Forget JB - all head for a snip at Snip Avenue", I am once again reminded how practical and useful economics is in understanding the world around us, and would like to horne my skills by providing some insights on the issue, looking beyond what the layman would understand from the article. It is deeply regretable that I could not publish the article here due to copyright issues. There are many concepts that come to mind while look at the article. Here are my thoughts, pardon me if they seem jumbled.
In short, the article showcases "a new kid on the block" offering below normal prices for haircuts, that of $2.80, putting many other barbers out of business and apparently still floating.
Through this article we understand that the haircut industry is not perfectly competitive market. Even though there are many small buyers and sellers of this particular service (one facet of perfect competition), there apparently is incentive for a firm in this industry to lower its price, showing us that this firm does not experience what a normal PC firm's demand curve, i.e. not perfectly elastic.
If one were to look at the article on the surface, one may reason that the low price is due to a lower quality of service provided. Taking into account income elasticity, we can look at the situation this way: this salon is quick to respond to market sentiments, that of a looming recession, and thus changed the quality of goods which he would like to provide, and hence attract more people who wish to pamper themselves with a haircut but of an inferior kind.
Nevertheless, apparently, they provide very good haircuts, with one polytechnic student reportedly "emerging from the shop sporting the layered look he asked for 'like the singers in 5566'". So at one hand, they offer better service at lower price. How do we account for this?
Taking into account ceteris paribus and equal cost conditions for all salons, we see that although this new salon may not experience that much revenue from the haircut market, the demand curve for the perms and highlights (complementary goods) market does shift to the right, which is how this new firm earns money. The owner of the shop implies that this is the kind of customer that he wants in the article.
Also, the LRAC for this salon continues to fall as output expands over a wide range because according to the owner, "the mass volume can cover the cost". A case for natural monopoly?
Any comments on this possibly disastrous analysis of the article?
Cheers for this last week of school. We have only one and a half years left. Cherish and have fun.
David.
Sunday, May 18, 2008
whee! sony vs nintendo 2 (microsoft died)
rawr! since i am free 2day's post shall compare the two most popular handheld game consoles in the world, namely the Nintendo ds and Sony psp. Sony psp sold 34 million units worldwide as of 31/12/2007 while Nintendo ds sold a total of 45.97 units
overview of the two systems:
http://gear.ign.com/articles/599/599454p1.html
at first before the introduction of PSP nintendo has a market share of over 90% (very close to monopoly, has monopolistic power) in the handheld console market thanks to the gameboy, however after the introduction of Sony PSP, more and more people are turning toward psp for better graphics and more hardcore gaming experience. The PSP also allows users to listen to music and watch videos ( a feature that the DS does not have)
The psp is a very close substitute of the nintendo ds. So according to the cross elasticity of demand Nintendo ds should try to differentiate its product so as to lower the substitutability of the product. Nintendo improved their current ds and launched DS lite in january 2006. The DS lite is 21% lighter than the original ds and 16% smaller in size. below is some more improvement made to the DS lite compared to the original DS (copied from wikipedia)
But in order to keep up with the competition, the sony psp launched its own version of psp slim/lite in September 2007. This new psp is 33% lighter and 20% smaller than the original one.
Some of the new improvements in the new design:
This is a video where they compare the new features of both the new PSP slim and DS lite
I am sure both Nintendo and Sony will continue to improve on their products through research and development to win consumers over so they can own a bigger market share which will lead to an increase in revenue.
han chang
overview of the two systems:
- Nintendo DS: Known as the Nintendo Dual-Screen, the DS is a handheld game device with two screens, a stylus pen, and the ability to play both Nintendo DS and Gameboy Advance games. Equipped with wireless technology, a touch sensitive screen, and a microphone, the DS has many characteristics similar to a specialized PDA, but with awesome gaming ability. It was released in the U.S. in November of 2004.
- Sony Playstation Portable (PSP): The Playstation Portable is Sony’s answer to Nintendo’s handheld market dominance. With a large wide-screen display, more powerful innards than the DS, and a media type capable of storing 1.8 gigabytes of data, the PSP is well positioned to change how we think of portable gaming.
http://gear.ign.com/articles/599/599454p1.html
at first before the introduction of PSP nintendo has a market share of over 90% (very close to monopoly, has monopolistic power) in the handheld console market thanks to the gameboy, however after the introduction of Sony PSP, more and more people are turning toward psp for better graphics and more hardcore gaming experience. The PSP also allows users to listen to music and watch videos ( a feature that the DS does not have)
The psp is a very close substitute of the nintendo ds. So according to the cross elasticity of demand Nintendo ds should try to differentiate its product so as to lower the substitutability of the product. Nintendo improved their current ds and launched DS lite in january 2006. The DS lite is 21% lighter than the original ds and 16% smaller in size. below is some more improvement made to the DS lite compared to the original DS (copied from wikipedia)
- The LED battery and charging light indicators have been moved to the upper right-hand corner of the unit, making it viewable regardless of whether the system is open or closed.
- The "start" and "select" buttons have been moved to the lower right-hand side of the touchscreen, the microphone has been moved to the direct center of the opened device, and the A, B, X, Y, and D-Pad seem to have been designed to match the Wii and Game Boy Micro.
- The power button above the D-pad was removed and replaced with a switch placed on the right side of the unit, in order to avoid accidental shut-off.
- Another improvement is the longer and thicker stylus, significantly reducing the amount of hand cramps as its users use it extensively throughout game play; the stylus holster was moved from the top of the unit to the right side.
But in order to keep up with the competition, the sony psp launched its own version of psp slim/lite in September 2007. This new psp is 33% lighter and 20% smaller than the original one.
Some of the new improvements in the new design:
- TV Output function
- supports charging via USB
- double the onboard RAM (32 MB to 64 MB) and caches UMD data in memory to decrease game loading times.
- The WLAN switch has been moved to the top where the old IR receiver was to avoid accidental switching, and the speakers have been moved from the bottom of the screen to nearer the top, to prevent users from accidentally blocking the speakers with their hands.
This is a video where they compare the new features of both the new PSP slim and DS lite
I am sure both Nintendo and Sony will continue to improve on their products through research and development to win consumers over so they can own a bigger market share which will lead to an increase in revenue.
han chang
hello 6n! (:
hope you guys enjoyed the lemonde game i posted the previous time. that was an oppotunity for us to have a go at being an entrepreneur! :D haha. firstly, you had to take into consideration the weather for the day, so as to decide how much ingredients to purchase. Also, since it is cheaper to buy the stuff in bulks, we had to make a choice of whether we wanted to buy the things in large quantities but risk having to waste them if we are unable to sell so many cups of lemonade, or just buy smaller quantities at higher prices. there were also other things that we had to decide such as the price of each cup, the amount of ingredients to be put into each cup (which would affect the quality of the drink).
Anyway, enough said about the game, i shall move on to the next issue now, which is about PEPSI vs COCA COLA .
As we all know, there has been a long battle beween the two companies, due to the strong similarity between the two drinks. to have a clearer idea of the world market shares of these towo companies, you guys can go to this website: http://www.nytimes.com/ref/business/20070527_COKE_GRAPHIC.html
Now, referring to the article Coke vs. Pepsi: the new cola wars
Full article at: http://money.cnn.com/2002/05/10/pf/investing/q_cola/index.htm
We can see that although currently, coca cola is still the dominant firm in the soda industry with the highest market share (Coke's market value in 2002 was $140.4 billion, while that of Pepsi was only $92.0 billion) , Pepsi actually seems to be doing better than Coke (in 2002, Coke's estimated revenue was $19.8 billion, while Pepsi's estimated revenue was $26.2 billion. there are various reasons to this.
Firstly, Pepsi is considered trendier than Coke. In 2002, both companies launched their new products: Vanilla Coke and Pepsi Blue. However, while Pepsi tried to reach out to the hipper and younger generation, Coke seemed to be focusing on nostalgia. Pepsi's strategy was more effective as it went for the right market - young people are more likely to drink such sweet carbonated soft drinks. Pepsi's effective approach led to an increased in unit volume for the firm. "According to the Beverage Market Corporation, unit volume for all of Pepsi's soda brands (including Diet Pepsi and Mountain Dew for example) increased 1.3 percent in 2001 while volume for Coke's carbonated beverage brands (Diet Coke, Cherry Coke and Sprite among others) declined by 0.2 percent."
Secondly, there is diversification in the products by Pepsi. Unlike Coke which focuses solely on the beverage industry, Pepsi has a variety of products which include beverages and snack foods. Examples of Pepsi's products are: Gatorade, Fritos, Doritos, Rold Gold, Quaker Oats etc. To quote Crit Thomas, director of growth equity for National City Investment Management Co., the subadvisor for Armada Funds, "What attracts me to Pepsi is I have more faith in their ability to grow earnings. Not only are they successful on the beverage side but they are successful with salty snack foods."
By having diversity, Pepsi is able to generate sales and earnings from different sources. As stated in the article, "Pepsi's Frito-Lay brand of snack foods, which include Fritos, Doritos and Rold Gold, accounted for 61.2 percent of revenue and 65.3 percent of operating profits in the first quarter (of 2002)." thus, even if Pepsi faces strong competiton by Coke, it will still be able to survive because even if it fails to harvest profits by selling carbonated drinks, it can still fall back on their sale of snack products.
To substantiate the fact that many business companies see more potential growth in Pepsi than in Coke, here are some evidence:
As of 30 April 2002 , Pepsi was the second-largest holding of the Henssler Equity Fund. The Henssler Equity Fund (HEQFX) invests in sound companies with strong track records. The top 10 holdings under the fund are:
1. AMEX Energy SPDR
2. PepsiCo, Inc.
3. Apache Corp.
4. ExxonMobil Corp.
5. Johnson & Johnson
6. Int'l Bus Machines Corp.
7. Emerson Electric
8. Procter & Gamble, Co.
9. Teva Pharmaceuticals Ltd.
10. General Electric, Co.
NOTE that the fund does not own Coke.
Also, as of 31 March 2002, Pepsi was the seventh-largest holding in the Armada Tax Managed Equity Fund and the tenth-largest holding in the Armada Equity Growth Fund.
_
Okay so now to end off, i'd just post a few very interesting videos here. (:
1. A commercial by Pepsi (which was banned)
2. A commercial of Pepsi VS Coke
3. Rivals: Coca Cola Chiristina VS Pepsi Britney
- yilina :D
hope you guys enjoyed the lemonde game i posted the previous time. that was an oppotunity for us to have a go at being an entrepreneur! :D haha. firstly, you had to take into consideration the weather for the day, so as to decide how much ingredients to purchase. Also, since it is cheaper to buy the stuff in bulks, we had to make a choice of whether we wanted to buy the things in large quantities but risk having to waste them if we are unable to sell so many cups of lemonade, or just buy smaller quantities at higher prices. there were also other things that we had to decide such as the price of each cup, the amount of ingredients to be put into each cup (which would affect the quality of the drink).
Anyway, enough said about the game, i shall move on to the next issue now, which is about PEPSI vs COCA COLA .
As we all know, there has been a long battle beween the two companies, due to the strong similarity between the two drinks. to have a clearer idea of the world market shares of these towo companies, you guys can go to this website: http://www.nytimes.com/ref/business/20070527_COKE_GRAPHIC.html
Now, referring to the article Coke vs. Pepsi: the new cola wars
Full article at: http://money.cnn.com/2002/05/10/pf/investing/q_cola/index.htm
We can see that although currently, coca cola is still the dominant firm in the soda industry with the highest market share (Coke's market value in 2002 was $140.4 billion, while that of Pepsi was only $92.0 billion) , Pepsi actually seems to be doing better than Coke (in 2002, Coke's estimated revenue was $19.8 billion, while Pepsi's estimated revenue was $26.2 billion. there are various reasons to this.
Firstly, Pepsi is considered trendier than Coke. In 2002, both companies launched their new products: Vanilla Coke and Pepsi Blue. However, while Pepsi tried to reach out to the hipper and younger generation, Coke seemed to be focusing on nostalgia. Pepsi's strategy was more effective as it went for the right market - young people are more likely to drink such sweet carbonated soft drinks. Pepsi's effective approach led to an increased in unit volume for the firm. "According to the Beverage Market Corporation, unit volume for all of Pepsi's soda brands (including Diet Pepsi and Mountain Dew for example) increased 1.3 percent in 2001 while volume for Coke's carbonated beverage brands (Diet Coke, Cherry Coke and Sprite among others) declined by 0.2 percent."
Secondly, there is diversification in the products by Pepsi. Unlike Coke which focuses solely on the beverage industry, Pepsi has a variety of products which include beverages and snack foods. Examples of Pepsi's products are: Gatorade, Fritos, Doritos, Rold Gold, Quaker Oats etc. To quote Crit Thomas, director of growth equity for National City Investment Management Co., the subadvisor for Armada Funds, "What attracts me to Pepsi is I have more faith in their ability to grow earnings. Not only are they successful on the beverage side but they are successful with salty snack foods."
By having diversity, Pepsi is able to generate sales and earnings from different sources. As stated in the article, "Pepsi's Frito-Lay brand of snack foods, which include Fritos, Doritos and Rold Gold, accounted for 61.2 percent of revenue and 65.3 percent of operating profits in the first quarter (of 2002)." thus, even if Pepsi faces strong competiton by Coke, it will still be able to survive because even if it fails to harvest profits by selling carbonated drinks, it can still fall back on their sale of snack products.
To substantiate the fact that many business companies see more potential growth in Pepsi than in Coke, here are some evidence:
As of 30 April 2002 , Pepsi was the second-largest holding of the Henssler Equity Fund. The Henssler Equity Fund (HEQFX) invests in sound companies with strong track records. The top 10 holdings under the fund are:
1. AMEX Energy SPDR
2. PepsiCo, Inc.
3. Apache Corp.
4. ExxonMobil Corp.
5. Johnson & Johnson
6. Int'l Bus Machines Corp.
7. Emerson Electric
8. Procter & Gamble, Co.
9. Teva Pharmaceuticals Ltd.
10. General Electric, Co.
NOTE that the fund does not own Coke.
Also, as of 31 March 2002, Pepsi was the seventh-largest holding in the Armada Tax Managed Equity Fund and the tenth-largest holding in the Armada Equity Growth Fund.
_
Okay so now to end off, i'd just post a few very interesting videos here. (:
1. A commercial by Pepsi (which was banned)
2. A commercial of Pepsi VS Coke
3. Rivals: Coca Cola Chiristina VS Pepsi Britney
- yilina :D
Thursday, May 15, 2008
No Frills Airlines
First time blogging haha :)
So, this is Mad TV's idea of a No Frills Airline that may be possible thanks to rising fuel costs and other factors. Enjoy !
Sainyam
So, this is Mad TV's idea of a No Frills Airline that may be possible thanks to rising fuel costs and other factors. Enjoy !
Sainyam
Sunday, May 11, 2008
Happy Mothers' Day
Hi u wonderful people of 6N
I thought of sending u a mother's day article on the economic contribution of mums to r welfare but dont know how to attach the article. So, I think I will email instead. I know its "uncool" but guess as a digital immigrant the learning curve is pretty steep. But, nevertheless its no excuse so will find out when I get back to school. That said, I must say what I saw today is simply "overwhelming" ... it like all the toy soldiers have come to life at the stroke of midnight!! Your blog seems to be totally transformed and buzzing with economics...and more economics.. Great people keep it up : )
I thought of sending u a mother's day article on the economic contribution of mums to r welfare but dont know how to attach the article. So, I think I will email instead. I know its "uncool" but guess as a digital immigrant the learning curve is pretty steep. But, nevertheless its no excuse so will find out when I get back to school. That said, I must say what I saw today is simply "overwhelming" ... it like all the toy soldiers have come to life at the stroke of midnight!! Your blog seems to be totally transformed and buzzing with economics...and more economics.. Great people keep it up : )
Saturday, May 10, 2008
Reasons for studying economics
1. Economic Forecaster.
As an economist you can make a living from predicting future economic events. The key to being a good economic forecaster is to use a mixture of dice and lottery numbers. (some economists make the mistake of using just lottery numbers, but this can lead to really bad forecasting) If this method fails just use the statistics from the previous year; they are always more accurate than the actual predictions of economists.
2. You can always give Advice.
When the economy enters a recession, you will be able to tell everybody why the economy is in a recession. Also, you will be able to suggest several conflicting reasons as to how we can get out of a recession. This will simultaneously, both confuse and impress everybody; but it doesn't matter because nobody ever listen to economists.
3. Diminishing Returns.
When you get ill from drinking 10 pints of beer in one night. You will be able to impress your parents with the knowledge that the law of diminishing returns is actually perfectly correct. As a side effect, you may also learn about opportunity cost:
Spending £40 on drink equals hangover.
4. Rational Behavior.
Economics assumes people are rational. Economics assumes that people choose the activity which optimises our utility. When people want to buy a season ticket to watch Leeds United, you can tell them this is irrational behaviour. The Leeds United supporter will definitely appreciate the cogency of your economic reasoning and will, more than likely, start supporting Doncaster Rovers with immediate effect.
5. Economics is a very humorous subject.
How many Free Market economists does it take to change a light bulb? None, in the long run, it will change of its own accord.
How many Marxists does it take to change a light bulb? None, smash the light bulb, a light bulb is a mere representation of the capitalist ideology that gives a feeble light, rather than the True source which is the sun.
6. Economics gets you a high paid job.
Actually, this is the only reason people study economics. Unless of course you have a strange desire to be an economics teacher; in which case you will enjoy your students repeatedly asking you the question; "Why didn't you get a proper job in the city, Sir?"
7. It's better than studying Geography.
True, but purists may argue this doesn't prove very much.
8. However - On the Other Hand
As an economist you can make a living from predicting future economic events. The key to being a good economic forecaster is to use a mixture of dice and lottery numbers. (some economists make the mistake of using just lottery numbers, but this can lead to really bad forecasting) If this method fails just use the statistics from the previous year; they are always more accurate than the actual predictions of economists.
- Note: Economists have successfully predicted 10 out of the last 2 recessions.
2. You can always give Advice.
When the economy enters a recession, you will be able to tell everybody why the economy is in a recession. Also, you will be able to suggest several conflicting reasons as to how we can get out of a recession. This will simultaneously, both confuse and impress everybody; but it doesn't matter because nobody ever listen to economists.
3. Diminishing Returns.
When you get ill from drinking 10 pints of beer in one night. You will be able to impress your parents with the knowledge that the law of diminishing returns is actually perfectly correct. As a side effect, you may also learn about opportunity cost:
Spending £40 on drink equals hangover.
4. Rational Behavior.
Economics assumes people are rational. Economics assumes that people choose the activity which optimises our utility. When people want to buy a season ticket to watch Leeds United, you can tell them this is irrational behaviour. The Leeds United supporter will definitely appreciate the cogency of your economic reasoning and will, more than likely, start supporting Doncaster Rovers with immediate effect.
5. Economics is a very humorous subject.
How many Free Market economists does it take to change a light bulb? None, in the long run, it will change of its own accord.
How many Marxists does it take to change a light bulb? None, smash the light bulb, a light bulb is a mere representation of the capitalist ideology that gives a feeble light, rather than the True source which is the sun.
6. Economics gets you a high paid job.
Actually, this is the only reason people study economics. Unless of course you have a strange desire to be an economics teacher; in which case you will enjoy your students repeatedly asking you the question; "Why didn't you get a proper job in the city, Sir?"
7. It's better than studying Geography.
True, but purists may argue this doesn't prove very much.
8. However - On the Other Hand
Economics is the only subject where contradicting yourself is seen as a highly desirable attribute. To double the mark on your economics essays, just say after each paragraph: however, on the other hand this is probably not true at all...
9. You will Know Why you are Unemployed
When you are standing in the unemployment queue, you will be able to tell everyone the type of unemployment they are suffering from. This will greatly endear you to the ranks of the unemployed; who will definitely not, sarcastically, ask you;
"If you know everything, how come you haven't got a job then?
(Its meant to be funny)
-Collin
microsoft vs sony vs nintendo
http://nexgenwars.com/
link to the estimation of number of xbox 360, ps3 and wii (stupid nic owns both a wii n ps3 then still don;t let me go over n play)
as you all can see if you go to the link above nintendo wii is topping the sale chart with 21 mil console sold =), while xbox 360 follows closely behind with 18 mil console sold but ps3 lagging behind with 9 mil only
this clearly show how nintendo wii console is dominating the market, xbox 360 has been release in nov 2005 one years and a month eariler then the wii and yet the amount sold is 3 mil behind wii. PS3 by sony is also launched around the same time as the wii, however statistic have shown (look above) that it is clearly not as popular as wii
Much of these are due to a distinguishing feature of the wii console (product differentiation/research and development). Unlike the PS3 and Xbox 360, nintendo wii games can be played using a wii remote which is a handheld pointing device and is able to detect movement in three dimensions. ok translation to english : montion sensor technology. for those who still don;t understand all you need to know that you can play your wii games by just waving the wii remote at the screen.
Also Nintendo games are more family based in design, including hit games like mario ssbb, instead of those action first person shooter games that both microsoft and sony produce. This way they will be able to increase their total revenue as they monopolise the market for family oriented games while microsoft and sony have to fight for a bigger market share for the same type of games ( reach out to customer with a different taste and preference)
http://www.informationweek.com/news/hardware/desktop/showArticle.jhtml?articleID=207400644
Sales were sparked by the recent launch of the hit game Super Smash Bros. Brawl -- a Wii exclusive.
Nintendo spends tons of money on research and development to improve on their current games, but its clearly worth it, they are remaking different and better versions of classic hits like all those mario games. Nintendo makes the game play of these new games like the old ones and to make them more attractive they added in more characters and hidden stuff in the game. So even though the gameplay is the same there are a lot of new places to explore and new enemies to fight. For example there were only 12 characters and 9 maps to choose from for the first super smash brothers game. Now the just released super smash brother brawl promised a wide range 35 of characters and 41 maps to choose from and tons of new items to try out!
lol got dota game now >< so shall stop rawr!
Han Chang
link to the estimation of number of xbox 360, ps3 and wii (stupid nic owns both a wii n ps3 then still don;t let me go over n play)
as you all can see if you go to the link above nintendo wii is topping the sale chart with 21 mil console sold =), while xbox 360 follows closely behind with 18 mil console sold but ps3 lagging behind with 9 mil only
this clearly show how nintendo wii console is dominating the market, xbox 360 has been release in nov 2005 one years and a month eariler then the wii and yet the amount sold is 3 mil behind wii. PS3 by sony is also launched around the same time as the wii, however statistic have shown (look above) that it is clearly not as popular as wii
Much of these are due to a distinguishing feature of the wii console (product differentiation/research and development). Unlike the PS3 and Xbox 360, nintendo wii games can be played using a wii remote which is a handheld pointing device and is able to detect movement in three dimensions. ok translation to english : montion sensor technology. for those who still don;t understand all you need to know that you can play your wii games by just waving the wii remote at the screen.
Also Nintendo games are more family based in design, including hit games like mario ssbb, instead of those action first person shooter games that both microsoft and sony produce. This way they will be able to increase their total revenue as they monopolise the market for family oriented games while microsoft and sony have to fight for a bigger market share for the same type of games ( reach out to customer with a different taste and preference)
http://www.informationweek.com/news/hardware/desktop/showArticle.jhtml?articleID=207400644
Sales were sparked by the recent launch of the hit game Super Smash Bros. Brawl -- a Wii exclusive.
Nintendo spends tons of money on research and development to improve on their current games, but its clearly worth it, they are remaking different and better versions of classic hits like all those mario games. Nintendo makes the game play of these new games like the old ones and to make them more attractive they added in more characters and hidden stuff in the game. So even though the gameplay is the same there are a lot of new places to explore and new enemies to fight. For example there were only 12 characters and 9 maps to choose from for the first super smash brothers game. Now the just released super smash brother brawl promised a wide range 35 of characters and 41 maps to choose from and tons of new items to try out!
lol got dota game now >< so shall stop rawr!
Han Chang
Friday, May 9, 2008
why do economics cartoons always refer to a lemonade stand...?
monopoly... :
monopoly... :
and there's a lemonade game you guys can try out too.. haha. try it at http://www.lemonadegame.com/ .
Have fun! :D
- yilina.
Thursday, May 8, 2008
Econs Jokes (again)
Since people are earning supernormal profit in telling jokes in this blog, i shall enter the market and join in the competition!
To answer Mr. Tan's question, i have found the answer
Q:Why did God create economists ?
A:In order to make weather forecasters look good.
Q: How many economists does it take to change a lightbulb?
A: Eight. One to screw it in and seven to hold everything else constant.
There are many variations on the light bulb joke, and all can be found in the site listed at the bottom of this post!!!
More jokes!!! (from the same site)
Talk is cheap. Supply exceeds Demand.
TOP 5 REASONS TO STUDY ECONOMICS
1. Economists are armed and dangerous: "Watch out for our invisible hands."
2. Economists can supply it on demand.
3. You can talk about money without every having to make any.
4. Mick Jagger and Arnold Schwarzenegger both studied economics and look how they turned out.
5. If you rearrange the letters in "ECONOMICS", you get "COMIC NOSE".
For more jokes (really high in supply)
visit http://netec.wustl.edu/JokEc.html
and credits to the above sites
-Nicholas-
To answer Mr. Tan's question, i have found the answer
Q:Why did God create economists ?
A:In order to make weather forecasters look good.
Q: How many economists does it take to change a lightbulb?
A: Eight. One to screw it in and seven to hold everything else constant.
There are many variations on the light bulb joke, and all can be found in the site listed at the bottom of this post!!!
More jokes!!! (from the same site)
Talk is cheap. Supply exceeds Demand.
TOP 5 REASONS TO STUDY ECONOMICS
1. Economists are armed and dangerous: "Watch out for our invisible hands."
2. Economists can supply it on demand.
3. You can talk about money without every having to make any.
4. Mick Jagger and Arnold Schwarzenegger both studied economics and look how they turned out.
5. If you rearrange the letters in "ECONOMICS", you get "COMIC NOSE".
For more jokes (really high in supply)
visit http://netec.wustl.edu/JokEc.html
and credits to the above sites
-Nicholas-
Wednesday, May 7, 2008
Hi People of 6N
I'm glad at last I am invited to join r blog. Have been waiting for this moment. This is a place for you as a class to exchange/share all things economics - articles, jokes, cartoons, videos, songs etc .
Can be serious or light-hearted. Let me begin with a couple of econs-related riddles:
Why did God create Economists? Anyone knows the answer?
How many economists is needed to change a light bulb?
cheers
mr tan:D
Can be serious or light-hearted. Let me begin with a couple of econs-related riddles:
Why did God create Economists? Anyone knows the answer?
How many economists is needed to change a light bulb?
cheers
mr tan:D
Saturday, May 3, 2008
what is marketing?
hello 6n! =) i found this pretty cool illustration of what marketing is about.. enjoy :D
Marketing Concepts?
A Professor at one of the IIMs was explaining marketing concepts to the Students:
1. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. "Marry me!" - That's Direct Marketing"
2. You're at a party with a bunch of friends and see a gorgeous girl. One of your friends goes up to her and pointing at you says: "He's very rich. "Marry him." -That's Advertising"
3. You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day, you call and say: "Hi, I'm very rich. "Marry me - That's Telemarketing"
4. You're at a party and see gorgeous girl. You get up and straighten your tie, you walk up to her and pour her a drink, you open the door (of the car)for her,pick up her bag after she drops it, offer her ride and then say:"By the way, I'm rich. Will you "Marry Me?" - That's Public Relations"
5. You're at a party and see gorgeous girl. She walks up to you and says:"You are very rich! "Can you marry me?" - That's Brand Recognition"
6. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" She gives you a nice hard slap on your face. - "That's Customer Feedback"
7. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" And she introduces you to her husband. - "That's demand and supply gap"
8. You see a gorgeous girl at a party. You go up to her and before you say anything, another person come and tell her: "I'm rich. Will you marry me?" and she goes with him - "That's competition eating into your market share"
9. You see a gorgeous girl at a party. You go up to her and before you say: "I'm rich, Marry me!" your wife arrives. - "That's restriction for entering new markets"
reference: http://in.answers.yahoo.com/question/index?qid=20071109204405AAioOSq&show=1
P.S. lets post more and keep this blog alive :D rmb how many birds one stone can kill! =)
-cynthia
Marketing Concepts?
A Professor at one of the IIMs was explaining marketing concepts to the Students:
1. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. "Marry me!" - That's Direct Marketing"
2. You're at a party with a bunch of friends and see a gorgeous girl. One of your friends goes up to her and pointing at you says: "He's very rich. "Marry him." -That's Advertising"
3. You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day, you call and say: "Hi, I'm very rich. "Marry me - That's Telemarketing"
4. You're at a party and see gorgeous girl. You get up and straighten your tie, you walk up to her and pour her a drink, you open the door (of the car)for her,pick up her bag after she drops it, offer her ride and then say:"By the way, I'm rich. Will you "Marry Me?" - That's Public Relations"
5. You're at a party and see gorgeous girl. She walks up to you and says:"You are very rich! "Can you marry me?" - That's Brand Recognition"
6. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" She gives you a nice hard slap on your face. - "That's Customer Feedback"
7. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" And she introduces you to her husband. - "That's demand and supply gap"
8. You see a gorgeous girl at a party. You go up to her and before you say anything, another person come and tell her: "I'm rich. Will you marry me?" and she goes with him - "That's competition eating into your market share"
9. You see a gorgeous girl at a party. You go up to her and before you say: "I'm rich, Marry me!" your wife arrives. - "That's restriction for entering new markets"
reference: http://in.answers.yahoo.com/question/index?qid=20071109204405AAioOSq&show=1
P.S. lets post more and keep this blog alive :D rmb how many birds one stone can kill! =)
-cynthia
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