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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?


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.


  • 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

Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
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
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
what school?
biomolecules are e building blocks of every organics and inorganic materials.
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
sciencedirect big data base
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.
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
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
characteristics of micro business
for teaching engĺish at school how nano technology help us
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
what is the actual application of fullerenes nowadays?
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
is Bucky paper clear?
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Do you know which machine is used to that process?
how to fabricate graphene ink ?
for screen printed electrodes ?
What is lattice structure?
s. Reply
of graphene you mean?
or in general
in general
Graphene has a hexagonal structure
On having this app for quite a bit time, Haven't realised there's a chat room in it.
what is biological synthesis of nanoparticles
Sanket Reply
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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