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UK interest rates kept at record low

UK interest rates kept at record low | Microeconomics | Scoop.it
The Bank of England keeps the benchmark UK interest rate at 0.5%, five years after it first cut the rate to its current record low.
Economics4Life's insight:

Its got to go up sooner or later, the only question is at what stage in the recovery the MPC will bite the bullet and raise the interest rates.

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Why collusion fails: Panasonic in US price-fixing plea

Why collusion fails: Panasonic in US price-fixing plea | Microeconomics | Scoop.it

Panasonic and other companies plead guilty to separate allegations of price-fixing, the US justice department says


Via Phil Hensman, Mr Jones
Economics4Life's insight:

A really good, up to date example of collusion which could be used in your economics exams.

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Mr Jones's curator insight, July 25, 2013 4:57 PM

High profile firms price fixing in the US market

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How To Draw Externality Diagrams

Students tend to struggle with drawing externality diagrams, so I designed this flowchart to help them to get to grips with them.

Via Alastair Newton
Economics4Life's insight:

This has a link to a useful flowchart that can help you draw this important diagram.

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Alastair Newton's curator insight, December 12, 2013 8:29 AM

This has a link to a useful flowchart that can help you draw this important diagram.

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Scarcity, Opportunity Cost and the PPC - YouTube

The basic economic problem is one rooted in both the natural world and in human greed. We live in a world of limited resources, but we seem to have unlimited...
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Market Mechanism Forces

Unit 1 Economics - The Price Mechanism


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Mr Jones's curator insight, December 1, 2013 8:47 AM
More great revision materials
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Introduction to Pure Monopoly - YouTube

After studying the theories of perfect competition, we not transition into the opposite extreme in the spectrum of competition between firms. 'Mono' means 'o...
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Economies of Scale: Biggest container ship visits UK

Economies of Scale: Biggest container ship visits UK | Microeconomics | Scoop.it
The world's largest container ship has visited Southampton as part of its first visit to Europe.

Via Geoff Riley
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Geoff Riley's curator insight, December 14, 2012 4:56 PM

Classic example of the container principle and productive efficiency in action. 

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Cameron to set minimum price for alcohol

Cameron to set minimum price for alcohol | Microeconomics | Scoop.it
David Cameron risks a backlash from the drinks industry, health groups and members of his own Cabinet this week over his plans to tackle the scourge of binge drinking by raising the minimum price of alcohol to as high as 50p per unit.
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Jay Caulthar's curator insight, January 20, 2014 12:45 PM

#MinimumPrice = #IncetiveForProducer #ExcessSupply #PeopleWillStillBuy #0DemandChange #Alcohol #InelasticGood #DemeritGood 

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Monopoly: Rail commuters face 6% fare rise | Econ1 Market Failure

Monopoly: Rail commuters face 6% fare rise | Econ1 Market Failure | Microeconomics | Scoop.it
Some rail commuters in England will face a rise of nearly 6.5% for their season tickets next year.

Via GENA4 2014
Economics4Life's insight:

an example to include in a 25 mark case study of market failure and in which ways governments might attempt to intervene.

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Demand, Marginal Revenue and Profit Maximization for a Perfect Competitor - YouTube

Perfect competition is a market structure in which thousands of identical firms compete to sell identical products, and in which no one firm has any control ...
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Detailing explains the perfectly competitve market, with diagrams to revise for Business Economics.

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A2 AQA Economics Revision 25 Mark Question

A revision guide to the A2 AQA Economics paper, looking in detail at the 25 mark question.

Via lorettomacroeconomics, Colin Wortley
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Exclusive – Scotland EU membership claims described as ‘error strewn fantasy’

Exclusive – Scotland EU membership claims described as ‘error strewn fantasy’ | Microeconomics | Scoop.it
Exclusive – Scotland EU membership claims described as ‘error strewn fantasy’...

Via Peter A Bell
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Relevant for the upcoming referendum

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AS-Level Economics - Video 1 - YouTube

Video 1/50 for AS-Level Economics - or IB Economics - or a general introduction to Economics. This video covers the basic economic problem of scarce resource...
Economics4Life's insight:

AS-level Economics Unit 1

''General introduction to Economics''

The good way to start any chapter or to revise, the owner of Youtube channel, Paj Holden, has a number of videos related to Economics.

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AS Economics Revision Notes

 "Revision notes to support all the main awarding body specifications for AS Economics".


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Alastair Newton's curator insight, February 25, 2014 5:28 PM

A link to useful revision notes from tutor2u

Danny Morgan's comment, September 14, 2014 1:39 PM
This will be a good link to use in the future as part of revisions. There is a clear layout on the topics we will be studying and it will be good to come to if I am unsure about anything in particular.
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Probe into chocolate 'price-fixing'

Probe into chocolate 'price-fixing' | Microeconomics | Scoop.it
Food giants Nestle and Mars, along with a distribution company, are charged by authorities in Canada over alleged price-fixing of chocolate.
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The Law of Increasing Opportunity Cost and the PPC Model - YouTube

In a previous lesson we introduced the basic economic concepts of scarcity, opportunity cost, and the production possibilities curve (PPC). In that lesson, w...
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Monopolistic Competition - YouTube

Having now studied perfect competition and Pure Monopoly, we will now step back towards the competitive end of the spectrum of market structures and examine ...
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@EconBant: #ECON3: Exam Tips

These notes are by no means exhaustive; they cover only topics that I think you might need refreshing on and I will often gloss over the basics. Use you notes from class, the specification, textbooks and revision guides as your ...

Via GENA4 2014
Economics4Life's insight:

seriously good revision for unit 3 revision as it clearly explains not only the specification but notes and revision on what will be required.

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Rescooped by Economics4Life from AQA Econ3 Microeconomics
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Economies of Scale: Biggest container ship visits UK | Unit 3 Micro: Business Economics

Economies of Scale: Biggest container ship visits UK | Unit 3 Micro: Business Economics | Microeconomics | Scoop.it
The world's largest container ship has visited Southampton as part of its first visit to Europe.

Via GENA4 2014
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Rescooped by Economics4Life from AQA Economics Unit 3
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Minimum wage increases to £6.31

Minimum wage increases to £6.31 | Microeconomics | Scoop.it
The national minimum wage rises to £6.31 for adults in the UK, an increase of 12p an hour, and by 5p to £5.03 for 18-to-20-year-olds.

Via Stuart Jackman
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Rescooped by Economics4Life from AQA Econ3 Microeconomics
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Monopsony Power and Intervention: New supermarket watchdog to get power to fine top chains

Monopsony Power and Intervention: New supermarket watchdog to get power to fine top chains | Microeconomics | Scoop.it
The new 'groceries adjudicator' was initially only going to get the power to name and shame supermarkets should they treat suppliers unfairly, but farmers have lobbied successfully for it to have greater clout.

Via Geoff Riley, GENA4 2014
Economics4Life's insight:

Relevant resource for econ3-

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