I strongly hate the raise in prices (I'm brown so I like to see my money inside MY pocket not in someone else's) but I understand the need for this so I'm not going to complain about it. This article strongly ties in with many of the concepts that we learned in our course such as supply and demand and demographic trends esp. geological. Because of the drought in the Midwest, there exists a scarcity for foods and thus since the demand for the food is high and there is not an abundant supply of the product, the owners are trying to raise the prices. Also, this article teaches how changes ( whether small or big, natural or unnatural)in one place can also have a great impact in other places. I think another reason the government is planning to raise the prices of the goods to meet the quota is to get more dollars circulating within our own economy rather than importing a lot from outside. As we studied in our course, it's always best to limit getting too many exports and making more goods within your country. A country should have a greater import level than exports in order to have a stable economy.
For more information on this topic, please refer to this article by the Toronto Star: http://www.thestar.com/living/food/article/1299380--food-prices-predicted-to-rise-in-canada-in-2013
For more information on this topic, please refer to this article by the Toronto Star: http://www.thestar.com/living/food/article/1299380--food-prices-predicted-to-rise-in-canada-in-2013
Wow that is actually a pretty significant increase in the prices of what some would say "basic neccesities" and a lot of people will probably be very upset at this. In my opinion people are already over paying for food that is not the greatest. What I mean is our food is already filled with pesticides, larvicdes and germicides. Our food now is to the point that it is so process and tampered with that we aren't even getting half the nutrients that we are supposed to get from it. So increasing the price of that kind of food don't fly with me.
ReplyDeleteThe demand for food and its prices are only going to go up because of the increasing population. Even the use of genetically modified crops wont stop this reality. They say by 2050 the worlds food supply wont be able to keep up with the population growth. This means we should all conserve the food we eat, but I highly doubt that's going to happen.|
ReplyDeleteWow, that is a tangible jump in some of those prices - many people's salaries do not increase at that rate, so in essence, their PURCHASING POWER (the amount one can buy) and amount of discretionary income decreases!
ReplyDeleteDpac summed the implications up quite well - SUPPLY AND DEMAND.
Keep on posting and commenting folks.
Wow, not only food prices like Deepak said but prices for alot of things have gone up this New year. For example, just the other day my parents went to go book a hotel room and we noticed that they hiked up the price compared to when we booked that same room in December by 20$. I also hear that they are increasing property taxes for homes by 2% in the next few months, not to mention the already raised interest rates that the Bank of Canada recently released. Prices on everything seems to be increasing but most of our salaries aren't and end in the end this really isn't going to balance out well. It looks like the cost to live is becoming more expensive by the day.
ReplyDeleteWhat a great gift for the New Year, Canadians can continue to spend, spend and even more spending continues this year. However I do see why this is happening. For one the economy is very down right now which means Canada has to have a resolution to this problem. Although the prices mentioned are pretty significant especially since the wages for many Canadians are not going to increases anytime soon, this potentially means working even harder maybe even more than one job. We have to continue to live with our basic needs met, so we have no other choice but to adjust.
ReplyDeleteI think that increasing the prices of the food is a good idea because the economy will earn more profit. Because most of the crops were destroyed, not much food was sold. Because of that, the economy did not earn that much profit. Increasing the prices will help the economy earn the profit that it needs.
ReplyDeleteEvery year the prices of food and other things go up from inflation but that's a lot! If it keeps increasing like this who knows what it will be 10 years from now! Even though this will help the economy, i'm just like you (well not the brown part :P). I like my money in my pocket!
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