Demand for goods can be both elastic and inelastic. Why did it happen? It is these factors that influence it.
a. Principal whether or not the goods. Demand for staple goods such as rice and cooking oil are generally less affected by rising or falling prices. This is because any increase, people continue to buy rice because rice is a staple that should always met their needs. Similarly, when the price drops, people do not then buy up the rice as much as possible. He will buy according to the magnitude of the needs of families within a certain time. Thus, the subject of a goods then permintannya more inelastic.
b. Presence or absence of substitute goods (substitution). Availability of substitutes has led to a good high level of elasticity. However, it’s easy to substitute an item, the more inelastic demand. For example, cow’s milk has soy milk substitutes. If the price of cow’s milk rises, people will buy soy milk. Thus, the demand for cow’s milk is elastic.
c. The proportion or part of income spent on goods. The greater the proportion of income consumers to purchase any item, the more elastic the demand. If the proportion of income spent on goods was small, demand is more inelastic. For example, the decline in the price of the refrigerator caused the people will soon make a purchase on the refrigerator. The proportion of revenues to the high amount refrigerator so that when there are price reductions refrigerator, demand will rise dramatically.
d. Tradition or habit. If the use of an item has become a tradition or habit, the demand will be inelastic. Although the price goes up, consumers will still buy it.

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 Though he wasn’t really a rated officer within the military – he’d formerly been a railroad conductor and made the decision to make use of the title for additional prestige and also to garner respect – Drake was credited for drilling the very first oil well. Shacked up within the small community of Titusville situated within the northwest corner of Pennsylvania, Drake hit oil in a depth of 69 ft.

 The relaxation, as the saying goes, is history. But you might not learn about this other “first”… Nearly 40 years before Drake started appearing like a colonel, another guy was working hard drilling their own fortune. And what he was drilling for is shaping the earth’s future energy stage these days.

 A Cinderella Energy Story

 80 miles north of Titusville, William Hart dug the very first well particularly focusing on gas. Only using spades, his well was 27 ft deep. As we actually want to understand how far we have originate from a technology perspective, just consider the pipeline accustomed to ship the created gas is made from hollowed-out logs smacked as well as tar and cloth.

Today, you will find a lot more than 2.2. million miles of steel pipelines underneath U.S. soil shipping gas to a lot more than 68 million people.

 Sadl, gas continues to be lumped using its ugly step-siblings coal and oil, despite as being a cleaner supply of energy than both. Unlike oil, however, its future is vibrant… Gas will play a vital role within our energy mix. We are able to guarantee much at this time.

 The thing is, the U . s . States is going through a big change.

 Searching at data in the EIA, roughly 1 / 2 of U.S. total electric capacity originates from plants which are a lot more than 30 years old. Let us focus as it were about the two primary fuel types: coal and gas. The majority of the gas-powered plants happen to be built in the last 10 years, while a lot more than three-quarters of all of the coal-fired plants were built throughout the sixties and seventies…

 A week ago, we had precisely how desperate Japan would be to avoid a catastrophic energy crisis. Japan have been in an exciting-out melee with China over liquefied gas (LNG) supplies.

 But China is equally as hungry for brand new powers.

 The nation’s LNG imports arrived at a brand new record in This summer at a lot more than 1.18 million metric tons. Gas demand leaped 25% over This summer 2010. By 2035, China is forecasted to double its gas demand, growing around 5% each year – the greatest rate of growth around the globe. Which type of growth is not limited to China. India can also be likely to double its gas consumption by 2035, and gas will apparently constitute roughly 12% from the Subcontinent’s energy mix.

Such companies seek mined from the bowels of the earth or collected from the natural wealth. In Indonesia, mining companies conducted by the government or the State Owned Enterprises (SOEs). Because these types of companies are considered very strategic and a lot of interest to many people.

This type of mining companies such as:
a. Pertamina (Company Mining Oil and Gas)
b. PN Timah
c. PN Coal Mining
d. PN Gas
e. PN LPG (liquefied natural gas)
f. Mas Mining PN
g. PN Bauxite Mining
h. PN Mining Natural Asphalt
i. PN Nickel and Copper Mines
j. Sea fishing
k. Forest logging

Although there are mining business conducted on an individual basis such as gold panning, diamond, or private national, foreign private, but still small. For example Cikotok mining in West Java, Rejang Lebong in South Sumatra, Martawa, South Kalimantan, conducted by the surrounding community.

So the mining company in Indonesia is still controlled by the state in accordance with the article 33, paragraph 2 and 3 of the 1945 Constitution. While in developed countries has been mostly done by private companies.

The mining company is seeking:
a. Search or exploration of new sources of mining on land and at sea
b. Trenching, drilling
c. Mining
d. Processing
e. Sales or marketing
f. Distribution

Given this type of business requires a very expensive cost for capital investment first, then at the time of exploration or the search should be able to calculate and estimate the exact capacity of the existing content in the bowels of the earth, so pengusahaannya can be profitable. For example the capacity of gold, petroleum, iron ore, nickel, or copper that will not run out for 50 years. If less than 25 years is up, then it will lose money because of the high cost of invested capital or in the form of sophisticated tools and expertise.

In everyday life, we need food, clothing, household tools, learning materials and housing. In meeting the needs of human life, goods such as rice, oil, soap, dishes, electricity, medicines, and others sometimes it wears out, some are not wearing out as well as TV, radio, furniture, or home is examples of items that are not wearing out as well.

Consumption is an activity of a person or group in the use, wear, or spend the goods and services in order to meet their needs.
While the consumer is the designation for people who do the act of consumption.

Consumers usually have a habit and behavior that are different. Consumer habits in villages different with the habits of consumers in the city, depending on the amount of their income.

When the amount of their income are many, there is the possibility of spending the greater amount. Whenever someone has met their basic needs, then the other needs will increase. If income increases, there is not enough desire to shop in the market but want to shop close to the big city, even like to shop abroad.

So one’s consumption is depends on: income, education, habits, and needs.

However, in this modern era, amid the incessant product advertisements on television, people’s consumption patterns tend only to satisfy lust or pride, no longer care whether they need the item or not. They feel proud when buying and using goods were brand advertised on TV. Thus, consumer behavior that exist today tend to be irrational consumption.

Factors affecting demand include the following:
a. Prices of goods itself. Prices of goods are the main factors affecting the number of requests. Demand for goods will decline when the price of goods rises. Conversely, the demand will go up if the price drops.
b. Income levels. Income levels greatly affect the demand for an item. Revenue in question is ready for consumption or income households have incomes less pieces and taxes. If the amount of income that is ready to change consumption, demand will also change. For the case of normal goods, when income increases the demand for goods will increase as well, whether it is frequently purchased items and new items.
c. Public taste. Tastes and habits of the community were also influencing the demand for an item. For example, people who like spicy food would require much chili to satisfy his appetite. In contrast, although the price of an item is lowered, if the consumer has no appetite for such goods, it will not happen on demand. If consumers have a taste of a particular item even if the price rises, the demand persists.
d. Estimates of the future. The changes are foreseen in the future could affect the current request. Forecast increase in fuel prices could boost demand for fuel oil at this time because people will fear the price will actually rise.
e. Prices of other goods that are closely related. Prices of other goods that are closely related as substitutes and complementary goods will affect the demand for an item. For instance the eggs are substitutes for chicken meat. If the price of chicken rose while the price of eggs remained, the relative price of meat to eggs to be expensive and people will choose to buy an egg move. As a result, demand for chicken meat will decline. Vice versa when the price of chicken goes down, demand for chicken meat would rise and demand for eggs will go down.
What about complementary goods? Examples of complementary goods that sugar and tea. The fall in sugar prices will cause demand for tea increased as people become more able to buy sugar to make tea.

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