Out of Business!

Source: Leadership ConneXtions

Businesses seem to be closing down every day due to this oil crisis. My neighborhood is starting to realize that we need a nearby farmer’s market – FAST! Just yesterday the store around the corner of my house closed down! Both the owner and his assistant are out of a job. The owner is married and he has two children – he also takes care of his father. The Food4Less near my house also posted an “Out of Business” sign last week. There go at least fifteen more jobs. I’m sure those people have families to take care of as well. The store about two blocks away from my grandmother’s house sells really good bionicos but that did not help bring in the money! The store’s owner encountered difficulties finding an inexpensive place to supply fresh fruit. That went on for two weeks so she just gave in and decided to close up the shop. My friend worked there. She helped her mother with the bills but now…I wonder how they’re going to make it. My cousin worked as a teacher assistant in our old elementary school here in Los Angeles – the problem is that she lives in Downey (20 miles away). With the gas prices so high she could not afford to keep driving so she had to quit. People are losing jobs left and right!
I’m glad that I finally found a job! I’m working in a Plant & Plant Supply store about five blocks away from my house. The owner seems to be making good money because everybody is interested in growing a garden at home. So now I am making some money of my own and helping my mom pay for her gas; it’s the least I can do and I’m trying my best to help. With whatever money I have left over for myself, I can buy myself something I want; at least once every month. I hope that with this job I can help out more around the house or something…bills need to get paid after all!
School and work are in walking distance so I have no problems getting there. I don’t have a car or my driver’s license anyway so there is no way I could drive, even if I wanted to! It takes time to get to school walking; I have to leave home by 6:00am to make it on time. Walking is not impossible. Work is closer to my house so it really does not bother me to walk there. I like to walk – it’s my exercise for the day :p There are times when I ride my bicycle to school instead of walking. A car is not something I need…I can do without it.
Nowadays people are looking for less expensive substitutes for everything they own; soda, shoes, meats, etc. The way consumers respond to change in price of a product (either an increase or decrease) is known as elasticity. Many people are making different choices because of the change in prices. Families are buying goods that are of a less popular brand. Some have already stopped purchasing soda and red meat altogether. There is a lot of elastic demand and people hope that the choices they are making will help them save money. Elastic demand is when the change in price of a product greatly affects the amount people are willing to spend on a product (and how much they buy). There are people that have to make better choices because they are not gaining enough money to spend on wants. Incomes are low and hours keep getting cut. This oil crisis is affecting everyone around me! I’m just lucky I was able to find a job at a time like this.