Consumer Spending

In: Business and Management

Submitted By ladygm
Words 481
Pages 2
GROWTH IN REAL CONSUMER SPENDING ON LEISURE AND VALUE
Gambling

Several factors have contributed to the dramatic growth of gambling in the UK like the internet .The technologies that drive the internet have improved internet gambling allowing anonymous gambling without physical travel and provides the highest level of gambling to date. Gambling and betting employs 20,000 people in London, and has sales of almost £900 million. Casinos are particularly significant – London has 60 per cent of the nation’s casino bets. Gambling is declining in popularity, but the market is being changed drastically by developments in internet gambling. Department of culture media and sport

The government transformed gambling legislation with the 2003 act for several reasons it has been argued that the government wanted to offer a safer regulated internet gambling environment .In the UK the gambling commission has a responsibility under the gambling act 2005 to provide advice to the government on gambling issues.
WHO GAMBLES
Men are more likely than women both to gamble (76% of men and 68% of women gambled in the
Past year) and to participate in a greater number of gambling activities (1.9 per year and 1.3 per
Year, respectively).
• The only gambling activity that women are more likely to participate in than men is bingo. Men
Are more likely than women to play the football pools and fruit machines, bet on horse and dog
Races, and to make private bets with friends.
• Gambling is most common among people in the three age groups: 25-34, 35-44 and 45-54 (around
3 in 4 people in this age range). Participation then declines to 66% at ages 65-74 (which is the
Same proportion as among 16-24 year-olds), and to 52% among people aged 75 or more. On
Average, people in the older age groups also gamble on fewer types of activities: for example, one third (32%) of 25-34 year olds…...

Similar Documents

Healthcare Spending

...Effects of Health Care Spending on the U.S. Economy http://aspe.hhs.gov/health/costgrowth/ http://www.cms.gov/NationalHealthExpendData/25_NHE_Fact_Sheet.asp#TopOfPage http://www.ahrq.gov/news/costsfact.htm The federal government share of health care spending increased just over three percentage points in 2009 to 27 percent, while the shares of spending by households (28 percent), private businesses (21 percent) and state and local government (16 percent) fell by about 1 percentage point each. The United States spends a larger share of its gross domestic product (GDP) on health care than any other major industrialized country. Expenditures for health care represent nearly one-seventh of the Nation's GDP, and they continue to be one of the fastest growing components of the Federal budget. In 1960, for example, health care expenditures accounted for about 5 percent of the GDP; by 2000, that figure had grown to more than 13 percent. Although the rate of growth in health care costs slowed somewhat in the mid-1990s, it has once again started to rise at a rate that exceeds other sectors of the economy. Thus, identifying ways to contain health care costs and obtain high value for our health care investments continues to be a priority for the Nation, particularly for policymakers and public and private payers. The federal government financed 29 percent of total health spending in 2010, a substantial increase from its share of 23 percent in 2007. Meanwhile, the shares......

Words: 271 - Pages: 2

Government and Spending

...Less than half of federal spending is devoted to the production of goods and services. • The government transfers income through both the tax system and outlays. Popular perception typically focuses on transfers across income classes through the progressive income tax system and means-tested benefits, referred to as vertical redistribution. But vertical redistribution is dwarfed by horizontal redistribution, transfers unrelated to income class. The largest beneficiaries of transfers are the elderly, through programs such as Social Security. • The government collects taxes, and that alters economic behavior. For instance,taxes on labor change the incentives to work, while taxes on specific goods (e.g., gasoline) change the incentive to consume and produce those goods. • The government regulates economic activity for a number of reasons, including environmental protection, workplace safety, and consumer protection. The economic impact of regulation is probably the hardest and most contentious to measure of the four types of government economic activity. In a nutshell, the government’s largest activity has gone from national defense in the 1960s to transfers to the elderly today. Defense spending peaked at 9.5% of GDP in 1968, and then fell to 4.7% of GDP in 1978. It then rose to 6.2% of GDP in 1986, before beginning a sharp decline to 3.0% of GDP in 2001. It began rising again and stood at 4.6% of GDP in 2009. At the same time, mandatory spending (excluding net interest)......

Words: 676 - Pages: 3

Consumer

...The cardinalist and ordinalist approach to consumer behaviour discuss? Economics Questions Answers.com > Wiki Answers > Categories > Business & Finance > Economics View Slide Show Best Answer Consumer Behavior from a Cardinalist and Ordinalist Approach Utility means satisfaction which consumers derive from commodities and services by purchasing different units of money.From Wikipedia, the free encyclopedia "Ineconomics, utility is a measure of satisfaction;it refers to the total satisfaction received by a consumer from consuming a good or service. "Given this measure, one may speak meaningfully of increasing or decreasing utility, and thereby explain economic behavior in terms of attempts to increase one's utility. Utility is often affected by consumption of various goods and services, possession of wealth and spending of leisure time. According to Utilitarian's, such as Jeremy Bentham (1748- 1832) and John Stuart Mill (1806-1873), theory "Society should aim to maximize the total utility of individuals, aiming for "the greatest happiness for the greatest number of people". Another theory forwarded by John Rawls (1921-2002) would have society maximize the utility of those with the lowest utility, raising them up to create a more equitable distribution across society. Utility is usually applied by economists in such constructs as the indifference curve, which plot the combination of commodities that an individual or a society would accept......

Words: 316 - Pages: 2

Federal Spending

...close to that amount which horrible to hear. Eventually the US the debt will have accumulated so much that all producers, consumers, and investors will be affected one way or another which will cause unnecessary concern. This may all sounds quite bad, but all money the money borrowed is used on the American people and their needs. The federal spending is a rather huge issue in the US today, especially since we are 16.8 trillion in debt to other countries as of 2013. Some people may question about what all this money is being used for or where is it mostly going to. Well, I can say that the money is being put to good use to major programs such as military, social security, unemployment, medical insurance, public capital, and interest of US debt. The military budget is a very important budget that the US needs to fund. Part of the US debt comes from need to pay for the training, health care, salaries, equipment, operation funds, and developing of new equipment. Not only that, the US has to also fund all the branches of the US military such as the air force, army, navy, coast guard, and the marine corps. A recent live study observed that one fifth of the spending from US goes straight into the budget of military. A total of 661.29 billion dollars were spent on military funding online, which is a rather big chunk contributing the US debt. An even bigger spending was the social security factor. Social security is very important for the people because it created and designed to......

Words: 1242 - Pages: 5

Government Spending

...2744 Government Spending & Budget As many Federal departments and agencies lurch into an era of running without funds, the leaders of both parties of Congress are spending less and less time searching for a compromise to balance the budget, and more and more time deciding how to use it to their advantage on the campaign trail. Meanwhile money is easily borrowed to pay for government overhead. In an attempt to change this, on June 29, Congress voted in favor of HConRes67 that called for a 7 year plan to balance the Federal Budget by the year 2002 (Hager 1899). This would be done by incorporating $894 billion in spending cuts by 2002, with a projected 7 year tax cut of $245 billion. If this plan were implemented, in the year 2002, the U.S. Government would have the first balanced budget since 1969. There is doubt by citizens that a balanced budget will become reality. A recent Gallop Poll from January, 1996 showed the budget as the #1 concern among taxpayers, but 4/5 of those interviewed said they doubt the GOP will do the job (Holding 14). Meanwhile, an ABC poll from November reported that over 70% of those polled disapprove of the current performance by Congress, and most blamed politicians for failure to take action (Cloud 3709). These accusations of failure to follow through come with historical proof that Congress and Clinton have failed to compromise and resolve the issue. After all, current budget plans are dependent on somewhat unrealistic predictions of avoiding such......

Words: 2816 - Pages: 12

Healthcare Spending

...National Health Care Spending Health care is something that is always going to be around because it is needed by all entities. Due to affordability it is not available to all which is a growing issue. Many people try to find the most affordable health care insurance, but sometimes economic hardships do not allow for people to get insured or remain insured; therefore leaving many people without health care insurance. The government has tried to help many people by providing those who qualify with Medicaid and Medical but those who don’t qualify are still left uninsured and with the burden of overwhelming medical bills. Even though health care is at times unaffordable it is still an entity that is used by all people. Often time’s people cannot afford to pay for health care expenses or health care insurance, therefore leaving many people with massive health care bills. In the United States, which has both a high level of health care spending per capita and a relatively high rate of real growth in spending, the share of GDP devoted to health care spending grew from 9% of GDP in 1980 to 16% of GDP in 2008. This 7 percentage-point increase in health care spending as a share of GDP is one of the largest across the Organization for Economic Co-operation and Development OECD. Current Level of National Healthcare Spending The predictability of health care cost has recognized for years by citizens, businesses, and government agencies such as the Centers for Medicare and Medicaid...

Words: 1596 - Pages: 7

Healthcare Spending

...Health Care Spending James Brewer HCS/440 April 11, 2011 Health Care Spending In many countries as well as the United States, health care spending is at an all-time high. Within health care, there are several factors, which have contributed over the years to increase higher cost. As spending throughout many countries is a key factor. The United States is above average, resulting in many citizens who are unable to afford the high cost of health care. Although it is difficult to determine the exact cause of why the increase of health care spending has risen, there are a few health care situations to blame. These causes could be health care prices, new and different disease patterns, and consolidation of many corporations, legal systems, new providers, advanced technology, and the aging population. Another cause of rising health care costs is cost sharing. This cause will not diminish anytime soon in the United States. Many people believe that disease management, consumer choice for health care and even evidence-based practice could help solve the problem of spending. These solutions however may not be sufficed to drive health care costs down. ...

Words: 1386 - Pages: 6

Healthcare Spending

...Health Care Spending University of Phoenix One of the major issues in health care has become heath care spending. For those who pay insurance, notice that their insurance premiums have gone up. The reason for that being is to help prepare for future expenses down the road. Since the health care has reformed, more people that are low to middle income have qualified for Medicaid in which others are taxed to help fund. This has caused the spending to increase for the United States. According to National Health Expenditures of 2013, “health care spending increased 3.6 percent to reach $2.9 trillion”. The spending that comes from the different health care facilities are all factored in the overall spending. Hospitals, Dentist, Home Health Care¸ Nursing Homes and even prescription medication are factors, the price of prescription medication is costly. Some people that take specialty medication and the others use name brand medication that cost more than the generic brand. These certain medications drive the expenses up and the spending deficit continually rises. Considering that Medicare and Medicaid will continue to grow as the old become older and the middle class become low and the low become lower. The reason I say this is because eventually more nursing homes will be needed and the need for home health care will be increased. The cost of medication, hospital stays and even going to the dentist for a teeth cleaning will even cost more. The cost of private insurance will...

Words: 689 - Pages: 3

Healthcare Spending

...Healthcare Spending Diana L. Giese Healthcare Economics HCS/440 October 31, 2011 Dr. John Gaze Healthcare Spending Healthcare spending is a major part of our nation’s problem today; we have the highest per capita of outlay than any other country in the world. This could be due to the increase knowledge of the use of medical technology, research for new diseases and longer life span within our population. In this paper the discussion will begin with a clear description on the allocation of funds towards the care of individuals participating in their need for proper care and conclude with overall view of how having this expenditure reformed could possibly support our country economically. There are several factors that affect our healthcare cost, namely, price settings for the service offered has greatly influenced the high cost to those that are insured to compensate for the uninsured. With the many attributes of healthcare disbursements one must realize that it is far from the past when doctors were once the only recipients of payments for their services rendered. Here is a graph of 2008 total health expenditure as a share of GDP with other countries. According to Kaiser Family Foundation (2011), economist will measure the gross domestic products and the amount of money spent on a particular entity which in this case would be healthcare spending. This chart shows that rapid growth of outlays of the United States compared to other nations where we far exceed in......

Words: 1378 - Pages: 6

Government Spending:

...Government Spending: An Expansionary Fiscal Policy Article Summary “On fiscal policy, USC professor's viewpoint is moral and farsighted” by Edward D. In this article, Kleinbard Challenges reliance on the tax code in order to stimulate the economy. According to Kleinbard (2014), increased government spending is a solution of achieving an expansionary fiscal policy in the American economic system. Moreover, he argues with the progressive tax systems as the only popular way of achieving equitable distribution of resources and growing the economy. Additionally, he mentioned the use of government spending in achieving equity and growth. Government Expenditure Increase The fiscal policy postulated is expansionary in nature. The application of the policy would lead a growth in the economy. Government spending should be viewed as an investment. The government should increase its spending on housing, medical care, and education. Also, it should invest in infrastructure. Infrastructural investments include investments on roads, bridges, seaports, airports and dams. Economic Analysis The most important point in government spending is in order to minimum the existing recessionary gap in the economy. Increasing in the government expenditure results in an upward shift of the aggregate demand. Government spending generates demand for goods and services. As a result, the overall aggregate demand increases. Moreover, government spending infuses more capital into the economy.......

Words: 700 - Pages: 3

Deficit Spending

..."Deficit Spending Introduction Deficit spending has become one of the highly discussed concepts in the corporate market. Deficit spending refers to the amount by which the spending of an organization exceeds the revenues in a particular period of time (William and Alan, 2005). The term can also be applied to the budget of an individual, family or government. The term can also be used to refer situations like imports exceed exports and liabilities exceed assets. Taking a loan that has to be repaid after certain period of time, say two years, at low interest rate to use the money on important things can be considered as an example for deficit spending (Oxley & Martin, 1991). If the loan taken by the individual right now is more important than the interest money that he or she spends on interest, it can be considered as a good deficit spending deal and vice versa. The deficit spending can be explained by referring to the activities of Federal Government. When then expenditure exceeds its revenues, the government will try to borrow, likely from foreign governments, to finance the excess spending needs (William and Alan, 2005). Governments will operate in deficit spending with the anticipation that the increased government spending will stimulate economic growth. Advantages of...

Words: 1001 - Pages: 5

Building Brands - of the Consumers, by the Consumers, for the Consumers

...Building Brands - Of the Consumers, By the Consumers, For the Consumers In July 2006, HUL (then HLL) launched India’s first community portal exclusively belonging to a brand – The Sunsilk “Gang of Girls”. The initiative was an instant success with the number of members crossing the half million mark within six months of launching. It was HUL’s attempt to revive the Sunsilk brand. Today with a member base of 7.5 lakh users (a mere 2.5 lakh users in four and a half years), the success of Sunsilk’s brand building exercise is debatable. But, what cannot be denied is HUL’s early recognition of a marketing channel – Conversational Marketing - that is moving towards becoming the trend for marketing and brand building in 2012. The launch of Orkut in 2004 (later in India in 2006) and the rise of Facebook’s usage as everyday’s must activity, paved the way for a new kind of a marketing channel which we all know as “Social Media”. Today almost each brand has their own Facebook page which is “liked” by fans, where the brand gets promoted each time the target segment logs onto Facebook. But, not all brands have sufficiently leveraged the true value of social media. Social Media have been extensively used for advertising and sales promotion. So much so that the value of communities like Facebook to marketers has been questioned as to whether it is the right place to reach your consumer. The regular argument is the fact that Facebook advertisements have critically low......

Words: 2212 - Pages: 9

The Consumer

...Assignment 4 - The Consumer Elvis Hoggard Strayer University HSA 505 Health Services Strategic Marketing Dr. Pica-Branco November 16, 2011 1. Describe the selection process you would use to make the most cost –effective and employee-friendly decision. One major objective of the new health reform law – the Patient Protection and Affordable Care Act (PPACA) is to ensure that the health insurance providers are regulated from driving up the cost of health insurance benefits. PPACA is supposed to allow families and businesses to choose the health coverage that is flexible and affordable. This new law applies to all health insurance plans. For example, in June 2010, the Department of Health and Human Services, Labor and the Treasury issued guidelines to enforce PPACA-which permitted children with pre-existing conditions gain coverage, and keep it, protect all Americans’ choice of doctors, and lifetime limits on care consumers may receive. (www.healthreform.gov). In order to select an employee benefit package for...

Words: 1360 - Pages: 6

Healthcare Spending

...passed the burden of healthcare spending on private consumers as well as other institutions such as employers, insurers, etc. Everything would have been fine unless statistics showed dramatic increases in healthcare spending over the years. American healthcare system is the most expensive one in the world; in 2004 America spent about 16% of nation’s Gross Domestic Product on healthcare services, which is approximately $1.9 trillion (Economist, 2006). Furthermore, annual spending continues to grow 10 to 15 percent every year (Davis et al., 2003), which is faster than the national inflation growth rate. Thus, we can see that healthcare spending in the United States requires immediate analysis and new policy solutions, otherwise it would become an uncontrollable fund-consuming machine. American economists are now trying to understand the nature of the growing healthcare costs, and to analyze its impact on the overall nation’s economy. Health and Human Services Department identified the major trends that lead to the rapid growth of healthcare spending. These include (but are not limited to) “changes in healthcare utilization, population demographics, price inflation, and advances in medical technology” (HHS, 2005). Discussion of these causes is not the purpose of this paper, although their analysis would provide a much more understandable picture of rising healthcare expenditures. But it is important to note that the increase in healthcare spending directly influences the......

Words: 1268 - Pages: 6

Healthcare Spending

...Healthcare Spending Heather Satterfield HCS/440 July 19, 2012 Osama Metry Healthcare Spending Healthcare spending involves researching trends of expenditures at a national level as well as researching the effects of the economy. It is important to take into account what best benefits the healthcare system. It is important to discuss how healthcare needs are financed and the immediate attention needed for the future of healthcare. In the current economy the cost of healthcare has risen and wages have decreased. In order for an employer to provide insurance for employees it is necessary for premiums to go up because the insurance companies have doubled the cost for the employer. Over the last ten years the percentage of one’s income that is paid for insurance rose from 12 percent to 22 percent. The reason for this rise is due to private payers’ compensation rising from 5.4 percent to 7.3 percent. This caused the employees’ salaries to go down. Due to this, small business were on a fast pace to going under. In order for the small businesses to stay above water it was necessary to cut insurance coverage from 65 percent to 59 percent. The Affordable Care Act was developed for relief on the premiums. In addition it protected Americans that were uninsured or had preexisting conditions. It was once thought to be impossible to receive healthcare benefits if one had a preexisting condition. In the year of 2014 it is thought that insurance costs will decrease....

Words: 935 - Pages: 4

[ www.TorrentDay.com ] - The.Single.Moms.Club.2014.DVDRip.XviD-iNFiNiTy | Rufus v2.7.855 | Thomas The Tank Engine Friends 8