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The Difference between Recyclables and Trash - Essay Example

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The paper "The Difference between Recyclables and Trash" highlights that in the first part of the podcast, those two people who were talking on the podcast asked random people to bring any kind of trash – unused gadgets, plastic bottles, teddy bears, and banana peel. …

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The Difference between Recyclables and Trash

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Subject: Macro & Microeconomics
Type: Essay
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 10
Author: izabellarenner

Extract of sample "The Difference between Recyclables and Trash"

People pointed out Asian countries like China which recycled plastics and sell them back eventually to Americans and European countries which recycled shredded papers and turn them into recycled paper, toilet paper, tissue paper, etc. However, they pointed out that not all trash is recyclable. When a person can gain profit from trash, it is called recyclables; whereas if it’s not, it is called trash/garbage.

Curious as to where she used yogurt containers and Wall Street Journal went through and to understand the flow or process of recycling business, the woman in the podcast followed Tom to a garage and found out that these items are recycled and produced approximately 100-billion dollar earnings. This is where the people in the podcast linked the recycling industry to microeconomics – in terms of economic prices. Microeconomics deals with the study of the economic behavior of individual units of an economy (such as the recycling industry) and how it affects the choices of an individual, makers, markets, and the law of demand and supply. For instance, the podcast revealed that recycling plastics affected the price of petroleum in the market as plastics are considered petroleum products. If the price of petroleum gets lower, then the price of fresh plastics is lower than recycled plastics. In return, those who are engaged in recycling plastics industries have to lower their production of recyclable plastics as the demand for them would be low. The same goes through for recycled papers when European currency is higher than US currency. In microeconomics, we tackled the effect of a single industry on the economic behavior of demand, supply, price, and production.

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