3D TV failed to ignite consumer demand

Summary

Recently, consumers have been invited to try out the 3D television effects but didn’t seem enthusiastic in purchasing one, although 52% did enjoy the experience of it. Because this is a new technology, the chances are that the price will be expensive and therefore not affordable to everyone. Also, the requirement of wearing 3D glasses at all times while watching television prevents many people from multitasking and causing inconvenience. It seems like one way to increase consumer demand in 3D television would be the breakthrough of technology when 3D glasses is no longer necessary to watch 3D effects. Most people mentioned that 3D viewing is probably best for special events like gaming, movies or watching sports. 3D TV fails to ignite consumer demand.

Connections

The factors affecting the demand of 3D television could be price, tastes and preferences, or expectations of future prices. Because it is a new technology being introduced in the market, the price would most likely be a bit too high and not affordable for most people. Therefore, causing less people having the urge to make a purchase since their television at home probably works fine anyway. 3D television hasn’t been exposed to the general public long enough to make a big impact in any sort of way which results in a lack of knowledge in the product causing consumers to be less interested. Usually when products are newly introduced, the market pricing would be more expensive. But as time passes by, better and more efficient technology would replace the original and cause the price to go down. Some consumers may be expecting a lowering in price in the future, therefore not making a current purchase.

Reflection

Being able to study the impacts of consumer demands towards manufacturer supplies and also factors influencing the way people purchase (demand) was insightful. I personally wouldn’t make a purchase of the 3D television reasons being one, if I had the urge to watch a 3D movie, I would go to the theaters, not only for the 3D effects but for the environment as well; two, I am not a sports fanatic, therefore with or without 3D while watching sports will not make much of an impact on me; and three, like mentioned in the article, wearing 3D glasses at all times watching television is a huge inconvenience, being the lousy person I am, I might misplace them and having to watch fuzzy TV till I find them again. Most people probably hesitate to make a purchase with similar reasons to mine. I strongly believe that the producers of 3D television should look further into these problems and come up with a solution.

http://www.cbc.ca/consumer/story/2010/09/10/con-consumer-3d-tv.html

Chapter One

States in Crisis - Scarcity of Jobs leading to Disaster

Source:http://news.yahoo.com/s/ap/20100826/ap_on_bi_go_ec_fi/us_economy

Summary

In the States, one in 10 households has missed at least one mortgage payment, and more than 2 million have been reclaimed possession due to failure to pay mortgage. The supply of unsold homes on the market keeps getting bigger. At the same time, the number of people being terminated from the right of their property is increasing. All this that has happened is pushing down home prices significantly. A major problem is that many people have homes that are now worth less than they owe on their mortgages. More than 2.3 million homes have been repossessed since the recession began in December 2007 and 6 million more will be lost over the next three years. If that happens, home prices will probably sink further, and the economy will suffer. Builders will keep construction rate to a minimum, and Americans will be less willing to spend because of their lost home values. The number of Americans missing payments and falling into foreclosure has gone up along with unemployment. The jobless rate has remained near double digits all year. Losing a job or having health problems that lead to high medical bills are among the reasons many people fall behind in their mortgage payments.

Connection 

This article relates to one of the most important terms in Chapter One – Scarcity. Scarcity refers to “an insufficient amount of supply.” In economic terms, anything that has a limited supply is referred to as scarce. As a result, almost everything on this planet is scarce because very few things actually come in unlimited quantities, in other words infinite.

In this case, what are scarce here are the job opportunities available in the United States of America due to recession. The scarcity in jobs is causing a great downturn for America’s economy. As people lose their jobs, they are moneyless to pay for their mortgage which would eventually be taken back by the lender. And without the ownership of a property, people tend to stop spending money in markets which would be disastrous for the American economy.

Reflection 

I was aware of the definition of scarcity on an Economics textbook or even in a dictionary, but I did not realize what kind of impacts it would cause if a specific resource actually did become scarce in our society. For instance, I drink at least 2 bottles of water per day; a meal wouldn’t be complete without my cup of water. If water were to become undrinkable one day due to pollution or any other factors, I can only imagine the price of a bottle of water sky rocket to an unimaginable amount. I think America should really seek for some help soon, or else their economy would be crashing down really soon. But I, for one, would be happy to see Canadian dollars higher than the Americans.

 

 

Escape

& unique