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The over-supply of lcd-televisions led to a drop of about 40% in the prices over the past year. It is expected that prices will still come down with a further 20% in the course of this year. According to experts lcd-television sets are a boon to the consumer, but a disaster for manufacturers. They had to witness how fat profits changed into fat losses.

The over-supply of modern, flat televisions clearly illustrates the present risk of making money from consumer electronics. Technology changes so quickly that products soon become redundant and prices drop drastically. The personal computers of two years ago are almost worthless today, as is the case with digital cameras.

The reason for this is that electronics make use of chips, and every two years the speed of chips is doubled.

Chinese manufacturers copy everything in an instant, enabling them to sell quality imitations at rock-bottom prices.

Samsung and LG Philips nevertheless continue to invest large sums of money in new factories. This year the latter has opened the biggest lcd-factory in the world at a cost of 40 milliard rands. Nevertheless, these two market-leaders expect a growing demand for lcd-television sets which will cause new shortages. Should this happen, next year’s profits will be sky-high again.

In the meantime these manufacturers must also take note of new companies entering into the market. Also the more up-to-date and advanced technologies need to be taken into account, such as plasma televisions that have flat screens as well. Modern, energy-saving technology like oled-televisions could probably replace lcd in the future. OLED is an acronym for organic light emitting diodes.

Adapted from an article in Elsevier , 7 May 2005

Activity 2:

To determine why certain products are more expensive than others

[lo 1.3]

Your parents have decided that it is time to buy a new television set. You visit some shops selling television-sets. There you discover that there is quite a variety of sets available. The salesperson immediately points out the television sets with a plasma screen. It appears that these sets are much more expensive. But then again, the image is that much sharper and clearer.

Discuss the following questions :

  • Why are the sets with the plasma screens (LCD= Liquid Crystal Display) more expensive?
  • s that new or old technology?
  • Are the sets manufactured locally or are they imported?
  • Is there a big demand for these television sets?

Activity 3:

To make inferences from a graph on new technology

[lo 1.3]

Discuss this graph by answering the following questions:

  1. Have the sales of ordinary TV sets decreased at the same rate that the sales of lcd sets increased?
  2. How many fewer ordinary TV sets have been sold in 2004 and 2005?

a) How many lcd sets have been sold in 2005 and 2006?

Assessment

Learning Outcomes(LOs)
LO 1
THE ECONOMIC CYCLEThe learner will be able to demonstrate knowledge and understanding of the economic cycle within the context of ‘the economic problem’.
We know this when the learner:
1.1 explains needs and wants and how the differences between them impact on communities and the environment;
1.2 describes the different types of businesses and activities within the primary, secondary and tertiary sectors;
1.3 explains the concepts ‘free’ and ‘economic’ (scarce) goods, and the influence of demand and supply on market prices.

Memorandum

  • It is very rarely the case that a specific trader is the only one who sells particular products. Therefore he / she must be properly equipped to handle competition in the market-place.
  • By way of an analysis chart, the learners are guided to determine exactly who the consumer is that they wish to target.
  • By answering simple questions the learners become aware of specific characteristics that an entrepreneur must possess in order to ensure success.

Questions & Answers

what is variations in raman spectra for nanomaterials
Jyoti Reply
I only see partial conversation and what's the question here!
Crow Reply
what about nanotechnology for water purification
RAW Reply
please someone correct me if I'm wrong but I think one can use nanoparticles, specially silver nanoparticles for water treatment.
Damian
yes that's correct
Professor
I think
Professor
what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
Rafiq
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
Damian
How we are making nano material?
LITNING Reply
what is a peer
LITNING Reply
What is meant by 'nano scale'?
LITNING Reply
What is STMs full form?
LITNING
scanning tunneling microscope
Sahil
how nano science is used for hydrophobicity
Santosh
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
Rafiq
what is differents between GO and RGO?
Mahi
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
Rafiq
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
Bob
The nanotechnology is as new science, to scale nanometric
brayan
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Damian
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
Renato
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
?
Kyle
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
Adin
why?
Adin
what school?
Kyle
biomolecules are e building blocks of every organics and inorganic materials.
Joe
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
research.net
kanaga
sciencedirect big data base
Ernesto
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Bharti
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
Daniel
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic and management sciences grade 7. OpenStax CNX. Sep 10, 2009 Download for free at http://cnx.org/content/col11025/1.1
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