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Information failure, inferior products, negative externalities: Smoking, unsafe sex and alcohol 'pose growing threat in poorer countries'

Information failure, inferior products, negative externalities: Smoking, unsafe sex and alcohol 'pose growing threat in poorer countries' | year 12 AQA economics | Scoop.it

Nearly 80% of the deaths from smoking in 2010 occurred in poorer countries, says World Bank, as risky behaviour soars


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Externalities and loads of other relevant concepts in interesting contexts

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Maxwell Thomas Moore's curator insight, November 25, 2013 6:11 PM

We need to spend more money and put in more effort to inform people in poorer countries about smoking and help the people who smoke to stop.

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Property sales reach seven-year high

Property sales reach seven-year high | year 12 AQA economics | Scoop.it
Property sales across the UK rose by 14% last year to 1.22 million, the highest number since 2007, official statistics show.
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Charging drunk patients in A&E wouldn’t sit right with my conscience

Charging drunk patients in A&E wouldn’t sit right with my conscience | year 12 AQA economics | Scoop.it
Making certain patients pay for emergency services might make night shifts better for doctors, but it is discriminatory, says Jason Sarfo-Annin

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Phil Hensman's curator insight, November 10, 2014 4:34 AM

Negative Externalities in Consumption: Should the problem causer be made to pay?

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Sticking Point: Gum Firms 'Must Fund' Clean-Up

Sticking Point: Gum Firms 'Must Fund' Clean-Up | year 12 AQA economics | Scoop.it
LBC

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Phil Hensman's curator insight, November 24, 2014 3:11 AM

Internalising the externality? - Negative externality in production - Getting the firm to pay, even though it is the consumer causing the problem.

Dr Koestle-Cate's curator insight, November 24, 2014 10:49 AM

This will be very useful later, when we look at market failure in Micro.

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Obese lose up to eight years of life

Obese lose up to eight years of life | year 12 AQA economics | Scoop.it

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Phil Hensman's curator insight, December 17, 2014 2:34 AM

The private costs of an unhealthy lifestyle - Demerit Goods

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Why oil prices keep falling — and throwing the world into turmoil

A complete guide to the oil price crash.

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Price instability in a key global commodity market has major implications for those firms in the industry and the wider global economy

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Geoff Riley's curator insight, January 6, 2:45 PM

The significant rise in US production is a big part of the story

Mr Jones's curator insight, January 6, 7:09 PM

Great summary of a key world macro issue going into 2015. Equally relevant for micro as oil price change affect firm profitability and wages for thise in the oil industry

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The Economist offers authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them.
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The Economist magazine gives their current judgment on petrol/diesel duty. Current government policy to continue the freeze on this tax is challenged. Arguments are stated rather than fully explained, but notice that although the 'polluter pays' principle looms large, their argument includes fairness and political elements as well.
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Should digital monopolies be broken up?

Should digital monopolies be broken up? | year 12 AQA economics | Scoop.it
ALTHOUGH no company is mentioned by name, it is very clear which American internet giant the European Parliament has in mind in a resolution that has been doing the...
Mr Jones's insight:

Some great stuff here about how to deal with monopolies in the ever changing tech/digital sector.  The 'Economist' argues that Google in not abusing its monopoly power in the way that may have been the case with Microsoft in the past.  In particular the article implies that in the long runn barriers to entry here are not insumountable. This despite the fact that 'top brands' here attract more customers even without trying.

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The Effects of Tourism in the Caribbean

The Effects of Tourism in the Caribbean | year 12 AQA economics | Scoop.it
Tourism is vital to the entire Caribbean region, contributing an estimated 14.2 percent of the region's Gross Domestic Product in 2011, according to the World Travel and Tourism Council. A survey ...
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Edward Wilkinson's curator insight, December 15, 2014 10:15 AM

Good for T&T and Economics

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Monopoly - Barriers to Entry

Monopoly - Barriers to Entry | year 12 AQA economics | Scoop.it
Revision note on barriers to entry
Mr Jones's insight:

One of the very useful resources provided by Tutor2u that cover important basic economic principles. Either keep this resource handy for revision or make your own notes

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Royal Mail warns Amazon delivery service will hit UK parcels business

Royal Mail warns Amazon delivery service will hit UK parcels business | year 12 AQA economics | Scoop.it
Last month, Amazon launched a same-day delivery service which allows customers to collect items from local newsagents and high street shops, through a tie-up with the distribution group Smiths News.

Via Geoff Riley
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Two sizeable firms. Does either Royal Mail or Amazon have monopoly power

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Geoff Riley's curator insight, November 19, 2014 4:30 AM

Excellent contextual example here of how revenues and expected profits can be affected by the effective entry of a new player into the market. Amazon's same day delivery / collection service is expected to hit volume growth for the UK parcels industry. 

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The price is not right

The price is not right | year 12 AQA economics | Scoop.it
APPLE has long been loved by consumers, who hanker after the company’s sleek computers, phones and other products. But on July 10th a federal judge in America...
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Mr Jones's curator insight, July 12, 2013 4:27 AM

Pricing arragements between different firms in an industry raise the possibility that consumers suffer the negative consequences of monopoly power.  American competition authorities continue to show they will act to protect consumer interests.

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Monopoly pricing: Why is broadband more expensive in the US?

Monopoly pricing: Why is broadband more expensive in the US? | year 12 AQA economics | Scoop.it

Home broadband in the US costs twice as much as it does in Europe and three times as much as it does in South Korea, according to a new report. Why?


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"Americans pay so much because they don't have a choice," says Susan Crawford, a former special assistant to President Barack Obama on science, technology and innovation policy.

Although there are several national companies, local markets tend to be dominated by just one or two main providers."

 

But is the the short term price for a fundamentally improved service in the future?

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Obesity 'costing same as smoking'

Obesity 'costing same as smoking' | year 12 AQA economics | Scoop.it

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Phil Hensman's curator insight, November 20, 2014 2:07 AM

Negative Externalities in Consumption

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Donnison Cycle Helmets

Radio piece looking at compulsory helmet laws in Australia

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Phil Hensman's curator insight, December 17, 2014 2:36 AM

Using legislation to force the use of merit goods.

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Record Chinese fine for pollution

Record Chinese fine for pollution | year 12 AQA economics | Scoop.it
Six companies in China's Jiangsu province are fined 160 million yuan (£16.6m; $26m) for polluting rivers, the highest fine of its kind, say state media.

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Tourists 'driving into North Sea'

Tourists 'driving into North Sea' | year 12 AQA economics | Scoop.it
A lifeboat volunteer says that some visitors to Holy Island seem to think it is all right to drive their cars into the sea.
Mr Jones's insight:

Do consumers always know best?  Even when they are told the dangers associated with a particular activity they are not always likely to follow the advice.  We are right to evaluate the quality of information presented to us but that doesn't always mean the best decisions are made.

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The Productivity of Trust

The Productivity of Trust | year 12 AQA economics | Scoop.it
The truth is that markets cannot exist without governments, and vice versa. Governments are essential to the establishment of security, justice, property rights, and contract enforcement, all of which are essential to a market economy.

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Geoff Riley's curator insight, December 24, 2014 4:52 AM

The brilliant economist Ricardo Hausmann makes the case the public goods being a key driver of productivity and competitiveness in developed and developing countries. His article ranges from the general (protecting property rights and maintaining justice) to the specific (green lanes at borders). The role of government is often derided, but markets work best when public and private sector agencies and agents are working effectiveness together. This is an excellent background read.

 

"The truth is that markets cannot exist without governments, and vice versa. Governments are essential to the establishment of security, justice, property rights, and contract enforcement, all of which are essential to a market economy."

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The Economist offers authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them.
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E-on the big German energy provider (sizeable share of UK market) may well be splitting up in part due to the diseconomies associated with widespread business interests. Just as important though are the (hugely complex) realities of climate change, subsidies and a government who might not be in a position to design a policy that fits with its conflicting aims
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Oil Prices Set To Remain Lower On OPEC Split

Oil Prices Set To Remain Lower On OPEC Split | year 12 AQA economics | Scoop.it
A meeting of the powerful OPEC cartel is tipped to maintain production levels despite pressure to raise prices through cuts.

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Fellow producers can producer monopoly power if they jointly agree to limit output. OPEC regularly finds this a difficult outcome to achieve
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Phil Hensman's curator insight, November 27, 2014 2:31 AM

A lovely example of when collusion breaks down and why.

Edward Wilkinson's curator insight, December 18, 2014 4:25 AM

OPEC split?????

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The State Of Android — How It's Finally Solving Its Fragmentation And Monetization Problems And Conquering The Planet

The State Of Android — How It's Finally Solving Its Fragmentation And Monetization Problems And Conquering The Planet | year 12 AQA economics | Scoop.it
What is Android? It's simply the world's dominant software at the moment.
Mr Jones's insight:

Should we worry about potential monopoly power in hi-tech industries? Or will any monopoly profits made by the firms be re-invested in new, more technologically advanced products that bring real welfare advances for future generations of consumers?

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Mr Jones's curator insight, February 12, 2014 10:11 AM

You may be surprised at the world-wide market share of android as an operating system.

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The Economics of Pay What You Want

The Economics of Pay What You Want | year 12 AQA economics | Scoop.it
People do care about fairness, social norms and not just about a cold calculation of marginal cost and marginal benefit.
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Consumer surplus 'proved' through different pricing models
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Economies and Diseconomies of Scale at PepsiCo

Economies and Diseconomies of Scale at PepsiCo | year 12 AQA economics | Scoop.it
This topic is very helpful when analysing the benefits or drawbacks arising from internal growth. Over the last couple of years the Economist has kept referring back to the case study of PepsiCo, and how the huge corporation has tried to control diseconomies of scale.Here’s the latest update – a proposed break-up.
Mr Jones's insight:

Bigger companies can often feel they have grown too much when they experience tougher times. PepsiCo has struggled against its rivals and sought to deal with these problems effectively.  An decision to sell off parts of the business might center around the relative sizes of economies and diseconomies of scale.

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Regulators should force BSkyB to give pay-TV entrants a chance, says BT boss

Regulators should force BSkyB to give pay-TV entrants a chance, says BT boss | year 12 AQA economics | Scoop.it
Senior executive Marc Watson says greater parity needed as UK sports pay-TV market littered with casualties such as ESPN. By Mark Sweney

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Payal Chaddha's curator insight, June 28, 2013 5:42 PM

Too many barriers to entery, for the Pay-TV market. So this articles says that Regulators should force BSkyB to allow other competitiors like BT to enter the market and get a chance to gain customers and establish themselves in the market. 

Mr Jones's comment, July 1, 2013 6:35 AM
Great article Payal, just the sort of debate you get in Econ3 questions