Another interesting converstation took place at home last night. No I didn't start it this time.

Background: My brother came back from a medical checkup. My parents asked how it went and he narrated his experience at the clinic. He complained at the doctor's carelessness(so happened I was reading my thick stack of "The great gatsby" readings about carelessness) of not signing his medical report. Next he showed my mum his precription. My mum took it from him and start to look through the plastic bag of medicine.

Brother: The doctor gave me some panadol to relieve my pain(back).
Mum: *Takes a look at it* Aye this is not panadol what! This is what..pa-ra-cepta-mol.
Brother: No! This is panadol! There are many different manufacturers of panadol only. But this is still panadol.

At this moment I can't help but to giggle and be miss know-it-all to shed some light onto the situation; to enlighten my mum and to correct my brother.

Serena: No! Paraxeptimol is the name of the medicine. Panadol is but a brand name of that medcine. There are many manufacturers of paraceptamol but only ONE panadol. (HAHA!)

Ah..the little things in life. It's funny to stand(or in this case sit) at a side and observe how things are and work around you. Recently I have been rather facinated with my surroundings. One example, I think eating is such a amazing process. The food just disappears in your mouth. HAHA! I was at Burger King a few day back and I got so amused seeing how people eat(or rather chomp down their burger and fries). Haha! Weird facination but yeah...

Being in McDonalds studying for two days this week open my eyes to an array of human behaviour as well. Funny how people go to macs for various reasons and it's not just to eat. People go to macs to study, to hang out, to meet up, to even discuss about work/business deal over burger, coke and fries?What about the library to study?Town to hang out/meet up?A more formal meeting place(a nice cafe/restuarant) to discuss critical business deal? What's up with society? I call this MCDONALDIZATION! McDonalds is dominating the world and there's no stopping to it. Think about it if people ask you to name any fast-food restuarant(ok I won't call macs a restuarant actually) what will you say first? I bet you'll say Macs first or it'll definately be in your list. The high and consistent demand enable macs to retain such a great market share in the fast food market(oh my food is only a commodity yet it has such great market power:ability to control price/output in the market). Macs food has become rather price inelastic(a change in price will elad to a less than proportionate change in quantity demanded)don't you think?

Why am I rattling so much? Haha...course I'm appalled by the price change! To think that they raised the price of students meal to $4.50?! That's so much more ex than a meal at BK, KFC. WHOA! That's mean! Prices are all going up(GST increment?). We students should always have the privelege man! Haha one of the benefits of being s student still; get cheaper rates. Why is it so? Because of price discrimination(different prices charged to different groups of people and the difference cannot be explained by a difference in cost of production) which is only possible if there's no resale between the segmented market and if there are different price elasticities!

Do you think I'm mad? Haha...I have economics on monday. Oh I think I have applied my microecnomics knowledge rather well in this real life example. Haha!