Read the article and answer question 4. Do you agree with the opinion in the quotation from Timo Kopomaa? Explain. 94CHAPTER 5APPL ICAT IONSO FDEMA NDA NDSUPPLYGoing WirelessThe mobile phone is bringing aboutchanges to society as profound as thoseintroduced by the automobile.-Timo Kopomaa, sociologist,Helsinki University of TechnologySome facts about cellphones as ofDecember 2000:•One in four Canadians has acellphone.• The number of users in Canadais increasing by approximately4700 per day.• In Finland, 70 per cent of thepopulation owns a cellphone, inBritain, 60 per cent, and in Japan,40 per cent.• By 2003, global sales of cell-phones are expected to triple.• The next generation of cell-phones will combine data stor-age, Internet access, and voiceand image communication.Source: Chris Wood, "The Cell in Your Future," Maclean's, 4December 2000, 34-40; Barry Came, "Wireless Nation,"Maclean's, 4 December 2000, 41-44.Chapter GoalsQUESTIONSBy the end of this chapter, you will be able to• understand, calculate, and apply a conceptknown as elasticity to consumers andsellers,1. Do you own a cellphone? If so, why? If not, do youplan to buy one in the future? Why or why not?2. How important are cellphones in our lives rightnow? Do you ever see them becoming a necessity?Explain.3. If demand for cellphones is increasing so much, whyaren't prices? Draw a freehand demand and supplygraph to illustrate what you think may be happeningin the market.• identify how governments interfere inmarkets, and explain whether or not itis beneficial,• understand theories of consumerbehaviour such as marginal utility andconsumer surplus,analyze and debate the issues of rentcontrols and minimum wages.4. Do you agree with the opinion in the quotation fromTimo Kopomaa? Explain.

Mobile phones have brought various changes in our lives just like automobiles have. The impact of…

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Read the article and answer question 4. Do you agree with the opinion in the quotation from Timo Kopomaa? Explain.

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Question

Read the article and answer question 4. Do you agree with the opinion in the quotation from Timo Kopomaa? Explain.

94
CHAPTER 5
APPL ICAT IONS
O F
DEMA ND
A ND
SUPPLY
Going Wireless
The mobile phone is bringing about
changes to society as profound as those
introduced by the automobile.
-Timo Kopomaa, sociologist,
Helsinki University of Technology
Some facts about cellphones as of
December 2000:
•One in four Canadians has a
cellphone.
• The number of users in Canada
is increasing by approximately
4700 per day.
• In Finland, 70 per cent of the
population owns a cellphone, in
Britain, 60 per cent, and in Japan,
40 per cent.
• By 2003, global sales of cell-
phones are expected to triple.
• The next generation of cell-
phones will combine data stor-
age, Internet access, and voice
and image communication.
Source: Chris Wood, "The Cell in Your Future," Maclean's, 4
December 2000, 34-40; Barry Came, "Wireless Nation,"
Maclean's, 4 December 2000, 41-44.
Chapter Goals
QUESTIONS
By the end of this chapter, you will be able to
• understand, calculate, and apply a concept
known as elasticity to consumers and
sellers,
1. Do you own a cellphone? If so, why? If not, do you
plan to buy one in the future? Why or why not?
2. How important are cellphones in our lives right
now? Do you ever see them becoming a necessity?
Explain.
3. If demand for cellphones is increasing so much, why
aren't prices? Draw a freehand demand and supply
graph to illustrate what you think may be happening
in the market.
• identify how governments interfere in
markets, and explain whether or not it
is beneficial,
• understand theories of consumer
behaviour such as marginal utility and
consumer surplus,
analyze and debate the issues of rent
controls and minimum wages.
4. Do you agree with the opinion in the quotation from
Timo Kopomaa? Explain.

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