California wine

has a negative income elasticity of demand – an increase in income leads to a fall in quantity demanded • e.g. coal NB: YOU WILL NOT BE GIVEN THIS FORMULA IN THE EXAM • A LUXURY GOOD has an income elasticity of demand greater than 1 • e.g. wine Sandra.kelly@itcarlow.ie Sandra.kelly@itcarlow.ie TOPIC 3 Page 18 Economics Year 1 TOPIC 3 Page 19 Economics Year 1 Topic 3: Elasticities of Demand & Supply Topic 3: Elasticities of Demand & Supply Different Income Elasticities

1/2 red bell pepper, cut into 1−inch squares • 1 can (8 oz.) bamboo shoots, sliced and drained • 2 tsp. cornstarch dissolved in 1 tablespoon water • 1 tsp. cornstarch • 1/3 cup roasted peanuts Sauce: • 3 tbsps. Chinese rice wine or dry sherry • 1/4 cup Chinese black vinegar or balsamic vinegar • 1/4 cup chicken broth • 1 tbsp. soy sauce • 2 tbsps. hoisin sauce • 2 tsp. sesame oil • 2 tsps. chili garlic sauce • 2 tsps. Sugar Directions:

a haven where seafarers could seek shelter and take aboard fresh supplies of water and meat bartered from the Khoikhoi. Today Cape Town is a major tourist attraction, offering visitors a wide variety of activities like watersports, fishing line, wine tasting , shopping. The most pleasant time is summer, the month of October than in March, although some visitors do not stand too much heat for the months of January and February. At year end, the cities become overcrowded because local holidaymakers

- The global wine market will grow by 0.6% over the forecast period, down from 1.4% between 2003 and 2008. France is likely to slow its decline at the end of the forecast period, as it seems to have been less affected by the economic crisis, and the country has one of the highest birth rates in Europe. Spain has the lowest per capita consumption of any wine-producing country, and younger consumers are entering wine at a later age if at all. However, like France, the decline in wine consumption in

in the skin (not flesh) of grapes. Fresh grape skin contains about 50 to 100 micrograms of resveratrol per gram, while red wine concentrations range from 1.5 to 3 milligrams per liter. This compound is also thought to be responsible, in part, for the cholesterol-lowering effects of red wine and may also explain why those consuming a Mediterranean-type diet (of which red wine consumption is characteristic) may have a reduced risk of heart disease. In a study by Pezzuto and colleagues (Jang, M., Cai

• The wash: (washing machine, dishwasher, tumble-dryer, and washing / driers). • The cooking: (cooks, cook tops, ovens, baskets and microwaves.) • The cold: (refrigerators, Freezers and wine cellars) Summary table of the household electrical equipment penetration rate in devices of the French households since 1970 (Expressed in percentages). |Years |1970 |1980 |1990 |2004 | |Washing machine

like to reserve a table for two une table pour quatre s’il vous plaît a table for four, please je voudrais … I’d like … je prends … I’ll have … un Coca® a Coke® un thé a cup of tea un café a coffee une bière a beer un vin blanc a white wine un vin rouge a red wine une carafe d’eau a jug of water le plat du jour today’s special l’addition, s’il vous plaît could I have the bill, please? le service est-il compris ? is the service included? où sont les toilettes, s’il vous plaît ? where are the toilets

-Implement French wine image in order to increase its sales amount TOOL -A marketing campaign matching the US and GB’s customer’s requirements. SL. 2: Market analysis: US & GB wine market Critères d’achats: -clear labeling -labeled with the wine region and grape variety -labeled with the grape -labeled with the producer Valeurs associées à la consommation de vin en US et GB : -luxe -soirée entre amis Caractéristiques des clients : -not experts Wine drinkers may

- The global wine market will grow by 0.6% over the forecast period, down from 1.4% between 2003 and 2008. France is likely to slow its decline at the end of the forecast period, as it seems to have been less affected by the economic crisis, and the country has one of the highest birth rates in Europe. Spain has the lowest per capita consumption of any wine-producing country, and younger consumers are entering wine at a later age if at all. However, like France, the decline in wine consumption in

Wine market in Taiwan Despite the global economic recession, demand for grape wine increased 21 percent by value from January to June 2008 compared to the same period in 2007. The wine market is still evolving with particularly red wine now commonly being served at wedding ceremonies and in the food service sector. Imported wine consumption continues to be led by the urban centres and younger generations. Taiwan’s business class is affluent, well travelled and relatively sophisticated. Many