Here's a blog posting I made for my Microeconomics class the other day:
"In America the going price for the new PS4 is just a mere $399.99, a small number in comparison to what it's listed in Brazil. It's sad to say that for many Brazilians they're forced to pay R$3,999, roughly $1,849, for this counsel. This ridiculous pricing isn't because of price discrimination but rather due to tariffs. In an attempt to eliminate gambling in Brazil, the government decided to heavily tax any item labeled as a "game," especially ones imported into the country, thus the price of video games has also been affected. Yet regardless of the price, Brazilians are still willing to pay the fee which has resulted in Brazil possibly being the "fastest growing games market in the world when it comes to total consumer spending [with an] anticipated growth of +32%[,] way ahead of the global average of +7% and even more compared to the US with +1% and Europe +3%," says CEO Peter Warman on Newzoo's website.
To read more regarding this issue, please check out Forbe's "The PS4 Will Cost More Than $1,800 In Brazil" article."
If you wanna read more articles posted by other students then check out my class' blog at: Introduction to Microeconomics 2013.