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#ECON1
Unit 1 Economics AS Level
Curated by Phil Hensman
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EU bee shortage threatens crops

EU bee shortage threatens crops | #ECON1 | Scoop.it
Phil Hensman's insight:

Positive Externalities In Production

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Dan Martin's curator insight, January 14, 4:56 AM

Looks like a lot economics in here!

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Minimum Alcohol Pricing: Criticism Over U-Turn

Minimum Alcohol Pricing: Criticism Over U-Turn | #ECON1 | Scoop.it
The Government is accused of "deplorable practices" after meetings with the drinks industry before shelving minimum pricing.
Phil Hensman's insight:

Regulatory Capture

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Dan Martin's curator insight, January 14, 4:58 AM

What is happeing here? Would minimum pricing reduce consupmption? Is hte governement right to listen to lobbying from within the industry?

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Drivers pay out £1.3 million in fines after being caught in bus lanes in Leicester

Drivers pay out £1.3 million  in fines after being caught in  bus lanes  in Leicester | #ECON1 | Scoop.it
Nearly £1.3 million in fines has been paid by drivers who flouted bus lane restrictions in Leicester in the past 18 months. Cameras in Charles Street and Causeway Lane caught 47,232...
Phil Hensman's insight:

Notice the drop in numbers of people being fined. Does that signal that it is working?

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Increase in demand or decrease in supply or both? Why bluefin tuna have no 'fair' price

Increase in demand or decrease in supply or both? Why bluefin tuna have no 'fair' price | #ECON1 | Scoop.it
The bluefin tuna auctioned off this weekend in Japan was comparatively 'cheap', but the price can't be used as a yardstick for its conservation status
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Increase in demand or reduction in supply? House Prices 'Jumped 1.4% In December'

Increase in demand or reduction in supply? House Prices 'Jumped 1.4% In December' | #ECON1 | Scoop.it
There are renewed fears of a housing bubble as prices leap in December, according to mortgage lender Nationwide.
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Different ways to correct information failure: Text message to cut binge drinking

Different ways to correct information failure: Text message to cut binge drinking | #ECON1 | Scoop.it
A major study aimed at cutting binge drinking among Scottish men will use text messaging in an attempt to change behaviour.
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Even ‘safe’ levels of air pollution can harm your health | Health | News | Daily Express

Even ‘safe’ levels of air pollution can harm your health | Health | News | Daily Express | #ECON1 | Scoop.it
AIR pollution can kill – even at so-called “safe” levels, according to the ­latest research.
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Perfectly inelastic supply: For sale: 150 million-year-old dinosaur

Perfectly inelastic supply: For sale: 150 million-year-old dinosaur | #ECON1 | Scoop.it
The almost complete fossil of a diplodocus is set to go under the hammer at an auction in the UK on Wednesday.
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Sold out? What does that say about the price? Xbox One: Million Consoles Sold In 24 Hours

Sold out? What does that say about the price? Xbox One: Million Consoles Sold In 24 Hours | #ECON1 | Scoop.it
Microsoft says the next-generation console is now sold out at most retailers after going on sale in 13 countries on Friday.
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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' | #ECON1 | 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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Mr Jones's curator insight, November 20, 2013 1:24 PM

Externalities and loads of other relevant concepts in interesting contexts

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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Using regulation to prevent negative externalities: Boris Johnson Wants Cyclist Headphone Ban

Using regulation to prevent negative externalities: Boris Johnson Wants Cyclist Headphone Ban | #ECON1 | Scoop.it
The London Mayor lays into cyclists who take to the road wearing headphones amid increasing concerns over bike safety.
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What has caused the price rise? Consider elasticity...

What has caused the price rise? Consider elasticity... | #ECON1 | Scoop.it
Ordinary Nigerians and trade unionists condemn the government for withdrawing a fuel price subsidy which has seen some petrol prices doubling.
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Can you tell the difference between composite demand and derived demand? Brick shortage threatens construction sector's recovery hopes

Can you tell the difference between composite demand and derived demand? Brick shortage threatens construction sector's recovery hopes | #ECON1 | Scoop.it
Industry survey highlights scarcity of materials as leading impediment to growth as ONS estimates sector's output fell 4% in November
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Shop prices fall at fastest pace in seven years in December

Shop prices fall at fastest pace in seven years in December | #ECON1 | Scoop.it
Retailers using deep discounts to attract cash-strapped consumers, the British Retail Consortium says
Phil Hensman's insight:

Changes in Supply or Demand? I'd argue both....

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Council plans more cuts to save £70m

Council plans more cuts to save £70m | #ECON1 | Scoop.it
Phil Hensman's insight:

A great example of Gov't considering opportunity cost when deciding on the amount of public and merit goods to produce

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Phil Hensman's curator insight, January 8, 2:40 AM

Evaluation of usefulness of public and merit goods put into context with opportunity cost... (OC is a great way to evaluate)

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Increasing regulation to reduce negative externalities: 60mph limit planned for part of M1

Increasing regulation to reduce negative externalities: 60mph limit planned for part of M1 | #ECON1 | Scoop.it
The government is proposing to reduce the speed limit to 60mph for a 32-mile stretch of the M1, in an effort to cut air pollution.
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Negative externalities in consumption, public goods and Derby coming out badly? Economics doesn't get any better... Derby sewers 'worst for fatbergs'

Negative externalities in consumption, public goods and Derby coming out badly? Economics doesn't get any better... Derby sewers 'worst for fatbergs' | #ECON1 | Scoop.it
Derby is named as having the most blocked and fat-clogged sewers among towns and cities in the East Midlands.
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Dealing with demerit goods: Uruguay Is First To Legalise Marijuana Trade

Dealing with demerit goods: Uruguay Is First To Legalise Marijuana Trade | #ECON1 | Scoop.it
The South American country's move is seen by some as a "more intelligent focus" in the war on drugs.
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Demerit goods: Britons pump £46billion a year into gambling machines

Demerit goods: Britons pump £46billion a year into gambling machines | #ECON1 | Scoop.it
Dubbed the ‘crack cocaine’ of the high street, the machines allow punters to lose up to £100 every 20 seconds.
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Why have prices risen? Brazilians see pricey football tickets

Why have prices risen? Brazilians see pricey football tickets | #ECON1 | Scoop.it
The high cost of football tickets means many Brazilians cannot afford to see their teams play in stadiums.
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Evaluation: Regulation only works if it's enforced: Many smugglers 'going unpunished'

Evaluation: Regulation only works if it's enforced: Many smugglers 'going unpunished' | #ECON1 | Scoop.it
Thousands of smugglers are going unpunished because of a breakdown in communication between UK Border Force and HMRC officials, a report says.
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Tackling negative externalities: NYC steps up fight against smoking

Tackling negative externalities: NYC steps up fight against smoking | #ECON1 | Scoop.it
New York City Mayor Michael Bloomberg has signed landmark legislation banning the sale of tobacco products to anyone under the age of 21.
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