Consumption Patterns and Economics
Introduction
In order to get a better understanding of trends in consumption patterns, one must first understand the basic principles of economics. For the purpose of this assignment I have chosen an article from The American Journal of Clinical Nutrition that comments on the recent increase in body weight and food consumption patterns of today’s children. This paper will define such terms as economics, microeconomics, the law of supply, the law of demand, and identify the factors that lead to a change in supply and a change in demand. This paper will also summarize the article and explain the basis for the trends in consumption patterns as discussed in the article and describe what occurred to change the consumption patterns of individuals in their childhood years.
Economics
Economics is the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political reality of the societies” (Colander, 2008). Economics is the science which deals with the production and distribution of products as well as the consumption of such products. It also studies normal human behavior in the attempt to fulfill individual’s wants and needs. Alfred Marshall, author of The Principles of Economics said it best when he defined economics as, “Thus it is on one side the study of wealth; and on the other, and more important side, a part of the study of man” (Investopedia, 2009).
Microeconomics
Microeconomics is one of the branches of economics that analyzes market behavior, and that focuses on understanding the decision making process of firms as well as households. Microeconomics “is the study of individual choice, and how that choice is influenced b...
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...lander, D. C. (2008). Economics (7th ed.). New York, NY: McGraw-Hill Irwin.
St. Onge, M. P., Keller, K. L., & Heymsfield, S. B. (2003, December, 2003). Changes in childhood food consumption patterns: a cause for concern in light of increasing body weights. The American Journal of Clinical nutrition, 78, No. 6, 1068-1073. Retrieved January 11, 2009, from http://www.ajcn.org/cgi/content/full/78/6/1068
Investopedia, 2009. Retrieved on January 11, 2009 from,
http://www.investopedia.com/university/economics/economics3.asp
Investopedia, 2009. Retrieved on January 11, 2009 from,
http://www.investopedia.com/terms/m/microeconomics.asp
Investopedia, 2009. Retrieved on January 11, 2009 from,
http://www.investopedia.com/search/searchresults.aspx?q=law+of+supply
Investopedia, 2009. Retrieved on January 11, 2009 from,
http://www.investopedia.com/terms/l/lawofdemand.asp
The American diet has changed dramatically in the past couple centuries and so has the restaurant industry. The result of this change in Americans actions and diets is a rising obesity rate among children. In the 1970s, the childhood obesity rate was five percent of children (2-19 years old). The obesity rates doubled in the 1980s and by 2008 16.9% of children were obese (Grossklavs and Marvlesin). The percentage of obese children has more than tripled in the last 40 years. The growing epidemic is dangerous and alarming. There are many factors that contribute to the dramatic rise of obesity children. As obesity has grown, so has the fast food industry. “Between 1977 and 1995, the percentage of meals and snacks eaten at fast food restaurants doubled,” (...
Government date shows that in the past thirty years, rate of being overweight in six to eleven year olds is up 19% and 6% in age 12 to 19. Without support, school lunches remain high in fat. (Finkelstien) According to the CDCP, obesity is double what it was in children and triple in adolescents since 1980. Many reforms were attempted to help this problem, but many inadvertently caused more problems. (Finkelstien) A 730 calorie lunch should have no more than 24 grams of fat and no more than 8 grams of it saturated yet the average USDA lunch has 31 grams of fat and 14 rams of it is saturated. (Yeoman) These very high levels of fat are why obesity is becoming worse in children. It can be concluded that school food is still extremely high in fat and this can be directly linked to the high rates of obesity in young children and
It is apparent that living an unhealthy lifestyle, as well as eating poorly, negatively affects one’s health. From a young age it is quickly learned which foods are considered healthful as opposed to junk food. It is a parents responsibility to supervise the intake of their child's food, however there is a higher risk than ever before of childhood obesity.
13 (3), 524. Retrieved from Healthy Child Care Library of Articles: http://healthychild.net/NutritionAction.php?article_id=524. Sorte, J., Daeschel, I., Amador, C. (2011). Nutrition, Health, and Safety for Young Children. (Ashford University, ed.).
It is the study of resource allocation, distribution and consumption, of capital and investment, and of the management of the factors of production. (http://wikitionary.org/wiki/economics)
Obesity is the condition of being overweight, childhood obesity is now consider a major factor that leads to long and short term health effects. This disease is linked to many problems such as bone and joint problems, sleep apnea, and social and psychological problems such as poor self-esteem according to the Center of Disease Control Prevention. Obesity is more likely to happen because of a poor diet and little to no physical activity. Children from ages 5-18 cannot control what is being feed at home and school. Their food habits are based on what parents and schools can provide. According to the Dietary Guidelines for Americans, in the year 2010 nearly 15 percent of American households were unable to acquire adequate food to meet their health needs. Parents cannot afford to feed their families with healthy foods, if the school system would provide at least two healthy meals: breakfast and lunch, kids would be receiving about half of the nutrition required to live a healthy life. School systems have the power to invest in healthier lifestyle by simply changing the menu. The school...
that, in turn, could adversely affect the weight of very young children” (child Trends). Works cited Alaimo, K., Olson, C. M., Frongillo, E. A., & Briefel, R. R. (2001). Food insufficiency, family income, and health in U.S. preschool and school-aged children. American Journal of Public Health, 91(5), 781-786. Bronte-Tinkew, J., Zaslow, M., Capps, R., & Horowitz, A. (2007).
"Diet, Nutrition, and Weight Issues among Children and Adolescents." Barbara Wexler. 2008 ed. Detroit: Gale, 2009. Information Plus Reference Series. Opposing Viewpoints in Context. Web. 20 Mar. 2014.
According to Sloman (2003), many people think that economics is about money. Well, to some extent this is true. Economics has a lot to do with money: with how much money people are paid; how much they spend; what is costs to buy various items; how much money firms earn; how much money there is in total in the economy. But despite the large number of areas in which our lives are concerned with money, economics is more than just the study of money. It is concerned with the production of goods and services and the ...
Economics is the study of how best to allocate scarce resources throughout an entire market. Economics affect our lives on a daily basis, whether it is on a business level or a personal level.
Microeconomics is the study of an individual economy, or of the different segments within the larger economy, while macroeconomics is the study of aggregate economic behavior, or the economy as a whole (Madura 103). The main goal of macroeconomics is to determine the impact of consumer spending on total output, employment, and prices. To fully understand economics as a whole, we must understand that there are limitations set by the available resources that are used to produce goods and services. These resources that are used in the manufacture of goods and services are called factors of production. Land, labor, capital, and entrepreneurship.
Managerial economics fits into the topics discussed because this is an area that gives explanation on how resources such as money, technology, land, and labor. It looks on how all these resources should be allocated in a more efficient manner. By understanding managerial economics it is possible to make the right decision regarding all the above topics. The managers have the ability to apply managerial economics to make strategies and solve critical business problems (Rowe,
The crucial importance and relevance of economics related disciplines to the modern world have led me to want to pursue the study of these social sciences at a higher level. My study of Economics has shown me the fundamental part it plays in our lives and I would like to approach it with an open mind - interested but not yet fully informed.
In today's world, economics associated disciplines are of fundamental significance and application and this has encouraged me to pursue a degree in Economics. Economics has an important relevance in all of our lives. As consumers we try to make the best of our limited incomes. As workers we take our place in the job market. As citizens of a country our lives are affected by the decisions of our government: decisions over taxes, decisions over spending on health and education, decisions on interest rates, decisions that affect unemployment, inflation and growth. As dwellers on the planet Earth we are affected by the economic decisions of each other: the air we breathe, the water we drink and the environment we leave for future generations are all affected by the economic decisions taken by the human race. It is these stimulating issues that excite me about economics. I enjoy studying Economics enormously and believe my passionate interest in economics is continually strengthened by my regular reading of 'The Economist'
What is Microeconomics? This question was left unanswered when I initially enrolled in this course. Microeconomics is the social science that studies the implications of individual human actions, specifically about how those decisions affect the utilization and distribution of scarce resources. Microeconomics shows how and why different goods have different values, how individuals create more efficient or more productive decisions, and how individuals best coordinate and cooperate with one another. Microeconomics does not try to explain what should happen in a market, but instead only explains what to expect if certain conditions change. For instance, If the price of the new iPhone 8 is higher than the previous model will the consumer buy it? There are several elements that will play into getting an answer for this question, but gives you a general idea of what microeconomics entails.