AS Unit 1
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Rescooped by Peter Symonds Economics from Business Economics and Market Competition
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Probe into chocolate 'price-fixing'

Probe into chocolate 'price-fixing' | AS Unit 1 | Scoop.it
The food giants Nestle and Mars, along with a distribution company, have been charged by authorities in Canada over alleged price-fixing of chocolate

Via Geoff Riley
Peter Symonds Economics's insight:

More market failure

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Elea Misteli's curator insight, September 3, 2013 1:53 PM

Macroeconomic trends impacting on markets and business:

Clear example of Monopoly power that has been mis-used. Unless Authority would have stepped in 'price-fixing' would have gone unnoticed and caused an effect on consumer expenditure on other goods and service. Furthemore because Nestle and Mars are food giants they would have had an elastic effect on demand of other goods due to the fact that they could be considered as necessity foods.

Rescooped by Peter Symonds Economics from Business Economics and Market Competition
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Nations join to form 'tea cartel'

Nations join to form 'tea cartel' | AS Unit 1 | Scoop.it
The world's biggest producers of tea agree to join forces in Sri Lanka, raising the prospect of a cartel controlling the price of the popular drink.

Via Geoff Riley
Peter Symonds Economics's insight:

Market failure?

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Geoff Riley's curator insight, January 23, 2013 8:16 AM

This is potentially an important development in a key consumer industry - can major tea exporters successfully manage the world price of tea in the form of an international cartel? What are the conditions required for cartels to be successful? When do international price agreements break down? Can you think of some of the benefits and costs of such a scheme from the point of view of different stakeholders?