Micro - markets and market failure
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Micro - markets and market failure
For students of A Level unit 1 and IB HL/SL
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Olive oil prices soar after bad harvest

Olive oil prices soar after bad harvest | Micro - markets and market failure | Scoop.it
Cost of Italian extra virgin olive oil soared 25% month-on-month in November as the state of the poor harvest became clear, writes Sarah Butler
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Mink prices sink after slump in Chinese demand

Mink prices sink after slump in Chinese demand | Micro - markets and market failure | Scoop.it
Fur opponents say fur market has been hit by drop in Chinese luxury purchases, caused by crackdown on gifts to officials
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Minimum unit price '50 times more effective' than alcohol floor price

Minimum unit price '50 times more effective' than alcohol floor price | Micro - markets and market failure | Scoop.it
Government measures to reduce the sale of cheap alcohol have been criticised by health researchers.
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House Prices 'Rise Above 2007 Peak Values'

House Prices 'Rise Above 2007 Peak Values' | Micro - markets and market failure | Scoop.it
A survey finds that home prices have been rising at their fastest pace for nine years, surpassing 2007 pre-crash values.

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Westminster Business School's curator insight, July 7, 2014 1:20 PM

Questions for discussion

  1. List the demand side factors that have contributed to higher house prices.
  2. List the supply side factors that have led to higher house prices.
  3. What do the current market demand and supply suggest for house prices in the short and long term?
Skeatsy's curator insight, October 19, 2014 4:39 PM

Why might the government be concerned about house price inflation?

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Gold price snaps 2-day hiatus, surges on marriage season demand, global cues - Indian Express

Gold price snaps 2-day hiatus, surges on marriage season demand, global cues - Indian Express | Micro - markets and market failure | Scoop.it
Snapping its two-day fall, gold price today soared by Rs 575 to Rs 31,625 per ten gram on fresh buying by stockists at current lower levels for the ongoing marriage season amid a firming global trend.

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Westminster Business School's curator insight, November 26, 2013 10:52 PM

Questions for discussion

  1. What factors have contributed to the rise in gold price?
  2. Illustrate the increase in gold price on a demand and supply diagram?
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Pricing nature 'may help save it'

Pricing nature 'may help save it' | Micro - markets and market failure | Scoop.it
Putting an economic value on nature could be the best way to protect it, says business leaders and environmentalists meeting at an Edinburgh forum.
KCS Economics's insight:

Great article for market failure including negative externalities 

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Demand: Recession transport: bike sales overtake cars

Demand: Recession transport: bike sales overtake cars | Micro - markets and market failure | Scoop.it
The European economic cycle appears to have taken on a new dimension - and it's round. Which countries have seen bike sales outpace those for cars?
KCS Economics's insight:

Interesting issues of both YED and XED to be considered.  Or is it just the Bradley Wiggins effect increasing demand?  Likely a combination of factors - how can they be separated out?

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Why banana smuggling is profitable in Tunisia

Why banana smuggling is profitable in Tunisia | Micro - markets and market failure | Scoop.it
Tunisia has made significant political changes, but its economy still needs reform, says its outgoing prime minister.
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Oil price hits two-year low after Saudi price cut

Oil price hits two-year low after Saudi price cut | Micro - markets and market failure | Scoop.it
Global oil prices fall to their lowest level in more than two years after Saudi Arabia cut its official selling price.
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Warm weather forces retailers to discount new winter clothing

Warm weather forces retailers to discount new winter clothing | Micro - markets and market failure | Scoop.it
Only weeks after winter stock hit stores, major chains cut prices in bid to boost sales amid above-average temperatures
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Starbucks Is Cutting Coffee Prices. In Greece

Starbucks Is Cutting Coffee Prices. In Greece | Micro - markets and market failure | Scoop.it
Faced with rising coffee bean costs, Starbucks is planning to raise prices for certain coffee beverages this week, according to a Wall Street Journal report.  “Starting Tuesday, some beverages in Starbucks U.S. company-operated stores will increase by between five cents and 20 cents,” writes Julie Jargon. “A 20-ounce, venti-sized cup [...]

Via Westminster Business School
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Westminster Business School's curator insight, June 30, 2014 7:01 PM

Questions for discussion

  1. What pressures have led to a rise in coffee prices generally?
  2. Why is the trend in the Greek market so radically different?
  3. Why do you think Starbuck's has decided to pass on the VAST cuts to customers in Greece?
  4. What kinds of goods is it easiest for producers to pass on cost increases to consumers? Do you think it this applies to the coffee market?
  5. How will the coffee market change if Mikel expand into the US market?
Skeatsy's curator insight, October 19, 2014 4:42 PM

Is this price discrimination?

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Why did the gold price plunge $10 in 10 seconds? - Telegraph

Why did the gold price plunge $10 in 10 seconds? - Telegraph | Micro - markets and market failure | Scoop.it
Sudden drop in the precious metal on the day it emerges the UK regulator is investigating alleged rigging of the price raises questions about the market

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Westminster Business School's curator insight, November 26, 2013 10:40 PM

Questions for discussion

  1. How was the sudden dip in gold prce explained in the article?
  2. Why do commodity prices tend to be volatile?
  3. How can gold be a 'safe haven' against inflation?

Further reading

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10461115/FCA-launches-gold-benchmark-rigging-review.html


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Let pigs eat swill, campaigners say

Let pigs eat swill, campaigners say | Micro - markets and market failure | Scoop.it
Campaigners say it is time the regulations on pigswill were relaxed to counter food waste and limit the unnecessary imports of grain.
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Excess demand in action: Glastonbury 2014 tickets sell out

Excess demand in action: Glastonbury 2014 tickets sell out | Micro - markets and market failure | Scoop.it
KCS Economics's insight:

A great example of excess demand.  Think about how you would draw the diagram.  Must consider both PED and PES.  Interesting to think what would happen on the re-sale market as the festival approaches.

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