Trends in Consumption Patterns ECO 365: Principles of Microeconomics

Essay by baguchakUniversity, Bachelor'sA-, January 2009

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IntroductionI have heard a multitude of stories about my native culture about survival and living in this harsh environment. Many of these situations, instances and recurring stories I can relate to in any possible way. For example, in order to survive my native people would travel long distances throughout the year to find and gather resources such as fish, seals, and whales for food and use each remaining remnant for some sort of tool. They would travel by kayaks made of seal skin in the summer and by dog sled in the winter. In today's economy we live in one place and use what we have learned from our ancestors to supplement our way of living. This paper that I will be writing today will focus on a news article from about the people in remote (bush) Alaska moving to the cities or hub villages for a variety of reasons.

By focusing on these trends or consumption patterns I will look at and define economics, microeconomics, the law of supply, the law of demand and a variety of factors that lead to a change in supply and a change in demand.

Overview of the ArticleLiving out in bush Alaska can be a struggle and each year we have seen a rising cost of fuel that some of us have to decide on what to use our income on. This article states clearly that some people struggle to a point where they have a hard choice of buying their children clothing or purchasing gasoline so they can go out on a hunting trip to feed their family. Personally I feel this struggle and fortunately I have supplemental income from a variety of sources to purchase fuel to go hunting for my family and friends. We are now paying about $6.95...