One method that has been proposed in order to reduce the mass slaughter of rhinos is the use of 3D synthetic of rhino horn. The theory behind creating a synthetic substitute is to flood the market by increasing the supply. By having a legally produced synthetic substitute that is genetically purer we can increase the quantity produced of rhino horn. The increase in quantity will increase the number of units of rhino horn available to the market shifting the supply curve right. This will reduce the scarcity of rhino horn. Therefore as the supply curve shifts outwards the equilibrium point will move along the demand curve to find a new equilibrium at a lower price at a higher quantity(supplied by the substitute). Prices could be sold at ⅛ of …show more content…
Legalisation of trade would allow commercial farms to play a pivotal role in the fight for rhinos. Currently the South African government holds 21 tonnes of rhino horn which has an approximate value of $1.36 bn, by legalising trade of horn, entrepreneurial farmers could painlessly and non lethally farm rhino horn, preserving the species and satisfying demand with a legal supply e.g. a farm in Johannesburg has 13 dehornings two to three days a week. These could be could be microchipped and by transported in armed escorts. It would bring trade into the eyes of the government where is could regulated and responsibly monitored with respect to demand and the supply available, giving authorities a good clear insight into the market and allows them to immediately respond to exogenous shocks in the market. Becoming active in the market of rhino horn suppliers gain a commercial source of income. Products will be cheaper and of a legal nature making it more attractive option to buyers than ‘blood horns’. This can be reinvested in the protection of the species both on commercial farms and the enforcement of their survival in the wild. Legal trade allows farms, currently two Asian farms and multiple African farms, to have greater security and rights against poachers making the supply less vulnerable to criminal activity. Finally, by having a greater supply of rhino horn it would decrease the speculative stock piling as there is a constant supply, possibly increasing with modern technology improvements as more horn can be produced further increasing supply, certainly dropping the price due the highly elastic nature. This will also force those in the illegal trade out due to less profitability in the black market trade reducing the incentive to poach. In Australia there has been major success in the farming of crocodiles for their skin which has helped fund
Additionally, the equilibrium price, the quantity can be seen on the graph above indicated at the point where the supply and demand curve meets.
If the price for one good increases, consumers will turn to a different good to satisfy their needs (Substitute Goods, n.d.), thereby decreasing demand for the original good and increasing the demand for the substitute good.
Lindsey, P. A., R. Alexander, L. G. Frank, A. Mathieson, and S. S. Romanach. "Potential of Trophy Hunting to Create Incentives for Wildlife Conservation in Africa Where
“Many airlines now ban shipments of African “Big Five wildlife trophies. Celebrities around the world, as well as the media, are condemning the illegal killing of animals for sport. The United Nations has also spoken out in a historic resolution on wildlife trafficking by the U.N. General Assembly that “strongly encouraged governments to commit to targeted actions to eradicate supply, transit and demand for illegal wildlife products” (Source 4). Countries, media, and celebrities are now discouraging the illegal killing of large game and urges the governments of many countries to enact laws to stop the black market distribution of these predators. It is important to prohibit illegal trophies and to enforce these laws with punishments and fines to remove species from the endangered species list and stop extinctions. Stricter laws and regulations can protect and save entire species from ceasing to exist. “Just months after the Smithsonian Institution’s National Museum of Natural History accepted a $20 million donation from big-game hunter Kenneth Behring, the Institution sought a FWS permit to import the trophy remains of two endangered wild sheep that Behring shot in Central Asia…After a storm of ugly publicity, the Smithsonian abandoned the permit application” (Source 1). The case of the Smithsonian Museum attempting to import two endangered sheep is just one
There’s another catch to trophy hunting: it is extremely expensive. Permits for trophy hunting usually cost thousands of dollars, which leads to the idea that killing animals can actually help conservation. This concept might seem ridiculous at first, but trophy-hunting permits bring in a plethora of money. For instance, the so-called “ten-day ‘elephant package’ could cost… 36,000 [dollars]” (learnenglish). Even if you merely wish to watch the hunt, you are obliged to pay 3,800 dollars (abcnews). The prices are strikingly high, meaning that so is the revenue. South Africa alone brings in more than 744 million dollars every single year, making it its “most profitable form of commercial land use” (learnenglish). This enormous amount of money can not only be used to aid the many third world countries in Africa, but also with conservation. Many argue that by killing wild game during hunting, it causes some species to go extinct. However, strong economic incentive has motivated landowners to expand their territories, reintroduce species, and take care of the animals in general, which would indicate the opposite: more animals are safe. One might even conclude that the world is saving animals, by killing
The National Wildlife Federation lists an endangered animals as a genus that may be eradicated by leaving an insufficient quantity to reproduce or obliterating the species in it entirety ("Endangered animals act," para 1). In the United States alone there are 70 mammals that are recorded as endangered; however the foreign number exceeds 250 (US Fish and Wildlife Service, 2014). The extinction process could be correlated to a natural route; however extinction may also transpire due to environmental differences. Climate variations producing even slight changes in characteristics may have an extreme consequence on an endangered species. Loss of habitation also impacts species causing them to becoming imperiled. On occasion ailments are distributed from domestic animal; due to the loss of habitation wild animals to come in contact with infected animals. For example Siberian tigers have development distemper from domestic dogs; and this has triggered the tigers to lose their fear of humans. This proves to be hazardous when the tigers approach villages and roads and are killed; furthermore the disease may cost the tigers their lives. (Dell’Amore, 2013). Many of the vanishing animals are poached for varies elements that may be utilized in traditional treatment. The African rhino is on species that is being significantly exploited for their horns; in Vietnam and China the horn is thought to treat everything from hangovers to cancer (O’Neill, 2013). In addition, the introduction of an exotic species afflicts endangered animals, and the overexploitation of animals initiates noteworthy reductions in populations. If an animal is not able to adapt to changing variations it could be disastrous to a species.
The second half of the 20th century has seen the continent of Africa in continuous turmoil. Civil wars, the AIDS epidemic, deforestation, and desertification are just a few of the problems facing Africa. A more recent threat to this ancient and fragile environment has emerged and is quickly gaining strength at devouring life – the bush meat trade. “Bush meat” refers to the smoked carcasses of various wild, and often endangered species that are sold illegally at rural markets of undeveloped countries and even at ethnic markets in developed nations. The meat of gorillas, chimpanzees, and elephants are considered delicacies and the demand for these endangered species is increasingly high. Countries at the center of this crisis are Botswana, Mozambique, Kenya, Zimbabwe, the Congo, Cameroon, Zambia, Malawi, and Tanzania. Bush meat plays a crucial socio-economic role to many in Africa, and as such epitomizes the need to balance protection against such factors as poverty, health, and food security. Certain key issues are necessary to understand the bush meat trade:
In the graph, it shows the law of demand; as the price increase there is a decrease in the quan...
As shown above, crisis increases demand for the product leading to a shortage. Supply does not change. Equilibrium price now shifts to the right and increases. The market is now ready and willing to pay for the product or service at a higher price. Upon seeing long of people waiting for the product, sellers either hike the price or bring in more supplies if it were possible. If more suppliers are brought, equilibrium price goes back to normal. If supply cannot be increased, sellers increase the price of the product or service.
Elephants are an endangered species and they should not be killed for their ivory or they will become extinct. In the article The Poaching Problem the author writes” elephant populations have declined to dangerously low levels.” At the rate that poachers are killing these innocent animal the entire species of elephants will be extinct in the year 2030! That is only twenty five years, I know that does not seem like a long time but it is going to go by fast and every one will regret killing all those poor innocent gentle creatures. In case study 483 they author writes “ During the 1970s and 1980s elephant poaching had included about 1.3 million elephants killed for their tusks.” It is hard to distinguish between legal and illegal ivory so it is sold easily.
A change in quantity supplied is just a movement from one point to another in the supply curve. In opposite, the cause of a change in supply is a change in one the determinants of supply that shifts the curve either to the left or the right. These determinants are the resource prices, technology, taxes and subsidies, producer expectations, and number of sellers. An equilibrium price is required to produce an equilibrium quantity and a price below that amount is referred as quantity supplied of zero no firms that are entering that particular business. If the coefficient of price is greater than zero, as the price of the output goes up, firms wants to produce more of that output. As the price of the output goes up it becomes more appealing for the firms to shift resources into the production of that output. Therefore, the slope of a supply curve is the change in price divided by the change in quantity. The constant in this equation is something less (negative number always) than zero because it requires strictly a positive...
At prices higher than the equilibrium price the quantity supplied will be greater than the quantity demanded and the excess supply would oblige sellers to lower their prices in order to dispose of their output. For example, if price is 40p supply would exceed demand by 110. This situation, illustrated in Figure 11.2, where supply exceeds demand and there is downward pressure on price is sometimes described as a buyers’ market.
When a suppliers' costs changes for a given output, the supply curve shifts in the same direction. For example, assume that someone invents a better way of growing corn so that the cost of corn that can be grown for a given quantity will decrease. Basically producers will be willing to supply more corn at every price and this shifts the supply curve outward, an increase in supply. This increase in supply...
As the supply curve moves in the automobile industry, the equilibrium price and quantity sold will change with this shift. When the automobile manufacturers see this shift in supply, they will then raise their prices and the quantity sold will fall. Car manufacturers will also develop...
Over the years, elephant populations have drastically declined. This is due to human encroachment on their habitat and poaching. Demand for ivory has increased the number of poaching kills in Africa. In 1988, Congress passed the African Elephant Conservation Act, which placed a ban against illegal ivory imports and authorizes government funding for elephant field conservation projects. Although some African countries have initiated African elephant conservation programs, many do not have the sufficient resources to properly manage, conserve and protect their elephant’s populations.