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Minimum Alcohol Pricing: Criticism Over U-Turn

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

Via Phil Hensman
Dan Martin's insight:

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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Phil Hensman's curator insight, January 8, 2014 2:43 AM

Regulatory Capture

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Paw Patrol: no job is too big for parents on the trail of this Christmas must-have toy

Paw Patrol: no job is too big for parents on the trail of this Christmas must-have toy | #ASMIC | Scoop.it
It is the surprise sell-out gift for 2015, driving shoppers to either spend big abroad or disappoint their kids come 25 December

Via Phil Hensman
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Mexicans Begin to Slim With the Help of the Soda Tax

Mexicans Begin to Slim With the Help of the Soda Tax | #ASMIC | Scoop.it
Taxing sodas has led to a cut in sales
Dan Martin's insight:

An example where a tax on fizzy drink seems to have had some effect on their consumption

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Bitwalking dollars: Digital currency pays people to walk - BBC News

Bitwalking dollars: Digital currency pays people to walk - BBC News | #ASMIC | Scoop.it
A new digital crypto-currency has been launched that is generated by human movement.
Dan Martin's insight:

One to keep up your sleeve when we come to look at behavioural economics maybe?:

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Demerit Goods: Video game use linked to worse GCSEs, study suggests

Demerit Goods: Video game use linked to worse GCSEs, study suggests | #ASMIC | Scoop.it
Children who play video games twice a day are less likely to achieve five good GCSE grades, a study suggests.

Via Matt Smith
Dan Martin's insight:

This is an interesting story! I wonder if anyone has ever done a survey of attendance following the release of the latest FIFA game???

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Bruce Fellowes's curator insight, November 15, 2015 7:39 AM

This is quite topical. A number of students missed a day of College recently due to the new Call of Duty computer game!

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Lego factories hit brick wall as Christmas worries build

Lego factories hit brick wall as Christmas worries build | #ASMIC | Scoop.it
‘We will not be able to deliver all customers’ orders in the remainder of the year,’ says toy company spokesman, after ‘extraordinary’ surge in demand

Via Phil Hensman
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K's curator insight, November 13, 2015 4:09 AM
The market should be using more resources than it is currently as their current productive capacity means they cannot meet demand. Lego should follow a policy of increasing their productive capacity by building new factories in a shorter space of time, as the new factories being built will not be ready until after next Christmas.
Mr Jones's curator insight, November 15, 2015 12:21 PM

This is not a good news story as far as anyone planning to buy Lego this Christmas. It's certainly true that in the short term markets may not be able to respond to quick changes in circumstances.  In this case the problem seems to lie within the Lego business itself and it's difficult to think that any government action could make much of a difference.

Jane Li's curator insight, November 18, 2015 5:33 PM
Since there's a huge demand for Lego toys, and especially during Christmas, the Lego company can't really let every consumer satisfied. This means that the demand of toys is much larger than the supply of toys. In order to maximise the welfare of the company, in my point of view, the company should I add more economic resources in. For example, the company can buy more equipment which will help them produce more toys per period of time. Or, the company can also build more factories over the world to increase the quantity of supply.
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Cheap potatoes, pricey asparagus: what would a carbon tax mean for you? | Guardian Sustainable Business | The Guardian

Cheap potatoes, pricey asparagus: what would a carbon tax mean for you? | Guardian Sustainable Business | The Guardian | #ASMIC | Scoop.it
For business, the winners will be those whose products get more use from less carbon and who act early on supply chains, but consumers of out of season asparagus may lose out

Via WGS Economics
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WGS Economics's curator insight, October 16, 2015 3:16 AM

ECON3 Climate and Environment: Great article looking at how different government intervention strategies might work, and the consequences of them.

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Car smoking ban comes into force - BBC News

Car smoking ban comes into force - BBC News | #ASMIC | Scoop.it
A law banning smoking in vehicles where children are present comes into force in England and Wales, but police say they will be taking a non-confrontational approach.

Via Phil Hensman
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Phil Hensman's curator insight, October 2, 2015 2:39 AM

Negative externalities in consumption, legislation

K's curator insight, November 13, 2015 4:14 AM
Economic resources should be reallocated away from cigarette production as the new ban will result in a decrease (although probably a small one) in cigarette demand. Reallocation of resources towards the an increase in supply of e-cigarettes, which are not affected, would be a sensible policy, and governments may decide to subsidise e-cigarettes, or tax normal cigarettes more strongly to encourage this ban to be successful.
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Yep, China has the most insane traffic jams in the planet

This is what happens when people come back from vacation in China and try to get into Beijing. And you thought your puny traffic jams were crazy. Read more: ...

Via Geoff Riley
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Geoff Riley's curator insight, October 9, 2015 5:01 PM

Can you spot the externality here?

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The 'disaster' hitting olives and their oil

The 'disaster' hitting olives and their oil | #ASMIC | Scoop.it
A disastrous harvest in Italy could lead to a rise in the price of olive oil.
Dan Martin's insight:

Another example of Supply and demand applied to a market

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UK firms 'hiring £1,000 bricklayers'

UK firms 'hiring £1,000 bricklayers' | #ASMIC | Scoop.it
Building companies in London have hired Portuguese bricklayers on £1,000-a-week wages because of a shortage of skilled Britons, a recruitment firm has said.
Dan Martin's insight:

How could this be explained with supply and demand analysis?

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Bruce Fellowes's curator insight, January 20, 2015 4:07 AM

I think I'd better re-train!

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UK's first 'poo bus' starts running

UK's first 'poo bus' starts running | #ASMIC | Scoop.it

Via Geoff Riley
Dan Martin's insight:

Keep this in mind when we look at side effects (externalities of economics decisions)

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McDonalds and Coca-Cola suffer as Americans lose taste for junk food - Telegraph

McDonalds and Coca-Cola suffer as Americans lose taste for junk food - Telegraph | #ASMIC | Scoop.it
Profits tumble 30pc at McDonalds and Coca-Cola warns it will miss forecasts as younger customers seek out healthy alternatives
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Sugary drinks warning posters 'work'

Sugary drinks warning posters 'work' | #ASMIC | Scoop.it
Signs warning shoppers how much exercise they need to do to burn off the sugar in fizzy drinks could be a useful tool in the fight against obesity, research suggests.
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Sugar tax: could a price increase solve Britain's obesity crisis?

Long awaited report calls for a tax on sugary drinks and foods, but David Cameron remains opposed
Dan Martin's insight:

Interesting background to our work on sugar tax

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Italy: Town pays people to cycle to work - BBC News

Italy: Town pays people to cycle to work - BBC News | #ASMIC | Scoop.it
Italian town is offering hundreds of euros per year to people who get on their bikes.

Via Phil Hensman, Dan Martin
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Phil Hensman's curator insight, November 20, 2015 3:04 AM

Promoting merit goods, discouraging demerit goods

Dan Martin's curator insight, November 22, 2015 3:24 PM

Might be useful in the next couple of weeks I think!

K's curator insight, November 26, 2015 2:52 PM
A positive externality in the consumption of bicycles and bicycle related products in this Italian town, following the council paying people to cycle to work, is that there will be less air pollution meaning less global warming and respiratory problems from pollution for people living there.
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Plastic bag charge: the unintended consequences of the 5p deterrent

Plastic bag charge: the unintended consequences of the 5p deterrent | #ASMIC | Scoop.it
Government's 5p plastic bag charge could make us less healthy, increase landfill waste, and threaten jobs
Dan Martin's insight:

Unintended consequences. The classic standby evaluation tool for any government intervention and possible government failure.

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Record Rents As Property Shortage Deepens

Record Rents As Property Shortage Deepens | #ASMIC | Scoop.it
As the Government moves to try and boost building, tenants are forking out an average of £816 per month in England and Wales.

Via Phil Hensman
Dan Martin's insight:

Inelastic supply and rising demand = ...............

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Phil Hensman's curator insight, October 19, 2015 8:55 AM

Increasing prices

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Britain’s big banks set to avoid being broken up by competition watchdog

Britain’s big banks set to avoid being broken up by competition watchdog | #ASMIC | Scoop.it

A2 students18-month investigation also expected not to recommend an end to free bank accounts but to call for switching to be made easier


Via Phil Hensman
Dan Martin's insight:

A2 students - One for next half term when we investigate competition or the lack of in certain markets

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School uniform prices raised by supplier contracts, says CMA - BBC News

School uniform prices raised by supplier contracts, says CMA - BBC News | #ASMIC | Scoop.it
The cost of school uniforms has risen by up to £10 an item owing to the use of exclusive suppliers, according to the UK's competition authority.
Dan Martin's insight:

How have these contracts affected supply? What is the effect on the price?

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Glencore slashes zinc production by third

Glencore slashes zinc production by third | #ASMIC | Scoop.it
Embattled mining giant Glencore says it is slashing its zinc production in reaction to a 30% plummet in the commodity's price in the past few months.

Via Geoff Riley
Dan Martin's insight:

How could the firms decision be shown on a Deamand and Supply diagram? Assuming the fall in price was due to less demand what effect would Glencore's decsion be likely to have?

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Geoff Riley's curator insight, October 9, 2015 5:00 AM

The profit motive in action here!

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Manchester raids see more than a million cigarettes seized - BBC News

Manchester raids see more than a million cigarettes seized - BBC News | #ASMIC | Scoop.it
More than a million cigarettes and 74 litres of alcohol are seized in a two-day crack down on suspected illegal trading in Greater Manchester.

Via Phil Hensman
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Phil Hensman's curator insight, October 12, 2015 2:09 AM

Government Failure, problems of heavy taxation, evaluation

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A quarter of a mile long and heading for the UK - the world's largest ship - Telegraph

A quarter of a mile long and heading for the UK - the world's largest ship - Telegraph | #ASMIC | Scoop.it
CSCL Globe, the new holder of the title of the world's biggest container ship, is steaming towards Britain

Via Graham Watson
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Oil price falls 'set to continue'

Oil price falls 'set to continue' | #ASMIC | Scoop.it
Oil prices are likely to continue falling well into 2015, the International Energy Agency forecasts.

Via Graham Watson
Dan Martin's insight:

Lots of economics in here. Why is the price of oil falling? What would happen if OPEC did decide to change their level of output as the article suggests?

We decided in class that demand for oil was going to be relatively price inelastic. How would this affect analysis in a diagram?

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Graham Watson's curator insight, November 14, 2014 7:35 AM

Another basic application of D&S: one factor implying falling demand another implying increasing supply. And in the version I've 'scooped' one error - it talks of the Saudis "not yet willing to open the taps".

 

Nonsense. If they want to raise prices they'll close them - as any fule kno...

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We are running out of chocolate, warns world's largest manufacturer

We are running out of chocolate, warns world's largest manufacturer | #ASMIC | Scoop.it
The world is running out of chocolate and even bumper cocoa crops cannot keep up with soaring demand from Asia, the biggest international confectionery manufacturer has warned.

Via Matt Smith
Dan Martin's insight:

Use demand and supply analysis here to explain what is happening. There seems to be extra big cocoa crops but even bigger increases in demand, what will happen to price???

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Diwali sees Asia retail sales spike

Diwali sees Asia retail sales spike | #ASMIC | Scoop.it
The Hindu festival of Diwali has a big impact on the economies of India and other Asian countries. Sharanjit Leyl reports from Singapore.
Dan Martin's insight:

How might this be shown in a Supply and Demand diagram

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