\"It\'s really nothing personal,\" said Matt Sheaff spokesman for the Rhode Isla
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"It's really nothing personal," said Matt Sheaff spokesman for the Rhode Island Commerce Corporation, a uasipublic agency that selects the 10 or so vendors for the state fair. "There isa growing trend of millennials and folks interested in beer tourism and craft breweries." The Big E, also known as the Eastern States Exposition, Springfield, Mass. is one of the biggest fairs in the country. It attracted 1.4 million visitors last year Other fairs around the country are also tweaking old standbys to attract millennials, who have overtaken baby boomers as America's largest living generation. Fair experts say millennials are a choosier bunch: not easily amused and seeking a modern twist to old-timey fair traditions. "I don't want any more sausage, period," said Larry Hays, concessions and vendors manager at the Big Butler Fair. In Rhode Island, the desire to attract a new generation has hot-wiener fans battling heartburn. Detecting tourism potential, the Rhode Island CommerceCorporation thought it would be smart to capitalize on millennials' taste for craft beer. The millennials are not going to keep coming for corn dogs and funnel cakes," Mr. Larson said Fair Trade' Becomes a Fashion Trend Part 1 Fair Trade coffee and chocolate have become commonplace. Get ready for Fair TradeExplanation / Answer
Currently among the different types of living generations in America, Baby boomers are Millenials are two of them.
a) Baby Boomers are those who were born between 1946 and 1964. They are called so because right after world war II, the time frame when these baby boomers were born, there was a very steep rise in the birth rates and this explosion of infants who comprised of a large proportion of the American population were named ‘baby boomers’. For example, Michelle Obama, the former First Lady of the United States of America just made the baby boomer generation, with a birthday on January 17, 1964.
b) The “Millennials” are those who reach young adulthood in the beginning of the 21st century. For this to happen, it requires the Millennials to be born between 1981-2000. They are also referred to as the ‘Gen Y’ following the Generation X. For example, Mark Zuckerberg is a millennial born on May 14, 1984.
c) There is a significant difference between an underemployed worker and a discouraged worker.
An underemployed worker is one who is employed and is working, but is doing so either part time, or performing a job way below his/her skill level. It refers to a person who wants to is able to do a much better full time job, but is not being able to find that job. For example, if person A has completed a Masters in Business Administration, but is working in a bakery as a part time waiter, then the person is said to be underemployed.
A discouraged worker on the other hand is someone who has given up looking for a job. The discouraged worker was unemployed for a long time and has stopped looking for a job. Such workers are not included to be in the labour force. For example, if the same person A who has done an MBA was looking for a job for 4 years, but gave up searching for a job, then he would be a part of the discouraged workers’ population.
d) Inferior goods are those goods whose demand rises with a fall in income and whose demand falls with a rise in income. Since income and demand are inversely related in the case of an inferior good, the demand for inferior good might increase under the following circumstance:
e) Adam Smith is a believer of the policy of Laissez Faire which talks against government intervention in any form. Adam Smith, the father of Classical Economics believes that at most the government should perform only 3 functions in the economy, without intervening in market activities:
f) Adam Smith is a strong advocate of the Laissez Faire policy which doesn’t encourage intervention of the government in any market to disturb the naturally moving market forces of demand and supply. According to Adam Smith, health care is also a private market wherein there is demand for and supply of healthcare and there is a price on healthcare goods and services. Thus, he would not believe in mandatory healthcare as that would be an imposition on the free-flowing price and quantity of healthcare in the healthcare market. This in turn would generate an inefficient outcome, if mandatory healthcare is issued. Rather, if there is no mandate, then the healthcare market will clear on its own at that level of equilibrium which generates the most efficient outcome and removes all deadweight losses.
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