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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


Via Phil Hensman
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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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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, 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
Mr Jones's insight:

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

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Geoff Riley's curator insight, November 19, 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?


Via Phil Hensman
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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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Tackling monopoly power: France approves 'anti-Amazon' bill

Tackling monopoly power: France approves 'anti-Amazon' bill | year 12 AQA economics | Scoop.it

France has approved a bill to support independent bookstores against competition from online retailers, such as Amazon.


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Ending monopoly power: Schools forced to end single-supplier contracts in bid to cut cost of uniform

Ending monopoly power: Schools forced to end single-supplier contracts in bid to cut cost of uniform | year 12 AQA economics | Scoop.it

Brirtish families could save £52m with end to overpriced clothes, Lib Dem education minister tells party conference, writes Daniel Boffey in Glasgow


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Monopoly: Rail commuters face 6% fare rise

Monopoly: Rail commuters face 6% fare rise | year 12 AQA economics | Scoop.it

Some rail commuters in England will face a rise of nearly 6.5% for their season tickets next year.


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Increase in supply: Afghanistan opium poppy cultivation at record high - Telegraph

Increase in supply: Afghanistan opium poppy cultivation at record high  - Telegraph | year 12 AQA economics | Scoop.it

Opium poppy cultivation in Afghanistan hits record high, UN report claims, with most of the rise in Helmand province, where British troops are about withdraw


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Mr Jones's insight:

Farmers free to make choices about what crops will bring in the best profits? Interesting that uncertainty about the future of Afghanistan after the troup withdrawl is a major issue.

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Dan Martin's curator insight, November 16, 2013 1:15 AM

How is this likely to affect the market for illegal drugs in the UK?

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Recycling Ivory Coast's mobile waste

Recycling Ivory Coast's mobile waste | year 12 AQA economics | Scoop.it

West Africa, and in particular Ghana, is widely known as the main dumping ground for electronic waste.


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Geoff Riley's curator insight, November 7, 11:37 AM

West Africa, and in particular Ghana, is widely known as the main dumping ground for electronic waste. This article from the BBC looks at the negative externalities from the dumping of e-waste and the consequences for local people. Several small-scale-projects, some of which are helped with funding by Western mobile phone providers are blossoming. In reality they are making only a small dent in what is fast becoming a dangerous scale of fly-tipped electronic waste materials.

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Black gold deficits

Black gold deficits | year 12 AQA economics | Scoop.it
Countries that suffer when the oil price plummets IN 2008 the oil price hit $140 a barrel. Today it is well below $90. Healthy supplies from America and weak demand...
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How a changing oil price has implications for the fiscal position of diffrent oil exporting countries

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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.

Via Phil Hensman
Mr Jones's insight:
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, 2:31 AM

A lovely example of when collusion breaks down and why.

Edward Wilkinson's curator insight, December 18, 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, 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
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Natural monopoly using SNP for dynamic efficiency: Severn Trent launches new technology to detect water leaks

Natural monopoly using SNP for dynamic efficiency: Severn Trent launches new technology to detect water leaks | year 12 AQA economics | Scoop.it

Yesterday, as part of a water industry innovation event, Severn Trent Water and partner Echologics launched the LeakFinderST™, a new piece of technology that can find leaks no other leakage detection equipment can.


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Monopoly Power: How a Single Company Gained a Stranglehold over Online Shopping and the Future of Retail | The Big Picture

Monopoly Power: How a Single Company Gained a Stranglehold over Online Shopping and the Future of Retail | The Big Picture | year 12 AQA economics | Scoop.it
Click to enlarge: Source: Institute For Self Reliance...

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External economies of scale: Motorsport Valley – the home of Formula 1

External economies of scale: Motorsport Valley – the home of Formula 1 | year 12 AQA economics | Scoop.it

BBC Sport takes a look at what attracts many of the F1 teams to 'Motorsport Valley', within just a 25-mile radius of Silverstone


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#ECON1: Motorsport Valley and External Economies of Scale

#ECON1: Motorsport Valley and External Economies of Scale | year 12 AQA economics | Scoop.it
The occasion of the 2011 British Grand Prix at Silverstone in Northamptonshire is an opportunity to showcase the extraordinary growth and success of the motorsport industry in the UK.

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Microsoft leapfrogs Exxon in value

Microsoft leapfrogs Exxon in value | year 12 AQA economics | Scoop.it
The energy giant ceded its position as the world's second largest company to Microsoft, after concerns about the falling oil price devalued its shares.
Mr Jones's insight:
Interdependence between markets with a bit of a twist. Price of oil falls and as a result so does the price of the shares of the businesses that produce oil. As a result the total value of Exxon falls to make Microsoft the second most valuable business in the world in terms of market capitalisation (ie Share price x no. of shares issued )
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Price volatility and buffer stock schemes

Price volatility and buffer stock schemes | year 12 AQA economics | Scoop.it
Bitly. The power of the link.
Mr Jones's insight:

Several resources connected to price instability and buffer stocks. I particularly advise you to keep and maybe print off the first two which are essentially good summary notes

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