CLSG Economics: Markets and Market Failure
27 views | +0 today
Follow
Your new post is loading...
Your new post is loading...
Scooped by Isha Patel
Scoop.it!

Viagra use up as price driven down - Telegraph

Viagra use up as price driven down - Telegraph | CLSG Economics: Markets and Market Failure | Scoop.it
More people are using Viagra due to a price fall of 93pc following patent expiration
Isha Patel's insight:

"Pharmaceutical company Pfizer’s patent for Viagra expired in June 2013, allowing other pharmaceutical companies to produce their own version and sending prices plummeting from £21.27 for a pack of four to £1.45"

more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Chipotle says it could afford a minimum-wage hike as it signals possible price rise

Chipotle says it could afford a minimum-wage hike as it signals possible price rise | CLSG Economics: Markets and Market Failure | Scoop.it
BloombergOn Thursday night's Chipotle Mexican Grill conference call with analysts, there was an interesting discussion over a hot-button issue: the minimum wage.
Isha Patel's insight:

If the minimum wage goes up in America and Chipotle raises prices as a result, will Chipotle prices go up by much in Britain? I think that even if they do, sales won't go down by much because the burritos are so tasty! (inelastic demand curve)

more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Glastonbury 2014 tickets sell out

Glastonbury 2014 tickets sell out | CLSG Economics: Markets and Market Failure | Scoop.it
Glastonbury Festival organisers Michael and Emily Eavis say they are "blown away" by demand as tickets for 2014 sell out in one hour 27 minutes.
Isha Patel's insight:
The organisers commented: "…when demand outstrips supply, it is an unfortunate inevitability that some people will be left disappointed"Prices were increased by £10, plus a booking fee, showing that when demand outstrips supply, a company is able to raise it's prices greatly.
more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Aldi posts record profits as 'the alternative to the Big Four' - Telegraph

Aldi posts record profits as 'the alternative to the Big Four' - Telegraph | CLSG Economics: Markets and Market Failure | Scoop.it
Aldi has become a viable alternative to the "big four" supermarkets for a family's weekly shop, the discount retailer's joint managing directors have said after it posted record annual profits.
more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Demand: Recession transport: bike sales overtake cars

Demand: Recession transport: bike sales overtake cars | CLSG Economics: 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?
more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Soaring house prices spread across UK as surveyors warn of another bubble

Soaring house prices spread across UK as surveyors warn of another bubble | CLSG Economics: Markets and Market Failure | Scoop.it
Poll shows fastest rise since late 2006 peak, with Rics saying Osborne schemes risk pushing prices to unaffordable levels (RT @EconHaines: Demand continues to outstrip supply as house prices rise at fastest rate since 2006 peak #econ1
more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Lucrative lifesavers

Lucrative lifesavers | CLSG Economics: Markets and Market Failure | Scoop.it
NEW weapons are emerging in the war on cancer. That is good news not just for patients but also for drug companies. The biggest ones, faced with falling sales as...
more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

UK economy 'to grow 2.5% this year'

UK economy 'to grow 2.5% this year' | CLSG Economics: Markets and Market Failure | Scoop.it
The UK economy will grow by 2.5% this year and 2.1% in 2015, the National Institute of Social and Economic Research (NIESR) forecasts.
Isha Patel's insight:

"But concerns remain - particularly levels of business investment, which remain low, and stagnant wage growth which means prices are continuing to rise faster than many people's salaries."

 

The wage-price spiral is not occurring now. For how long will unemployment rates continue to fall until people start demanding higher wages in accordance with higher prices?

more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

New UK car sales best in five years

New UK car sales best in five years | CLSG Economics: Markets and Market Failure | Scoop.it
New car sales hit the highest level in more than five years in September helped by the latest registration plate, according to the Society of Manufacturers and Traders.
Isha Patel's insight:

Through the increasing demand for cars, we can see that economic confidence has been boosted as the population has been given signs of heading out of the recession.

September sees many more purchases of cars because this is when new license plates are issued. However, this September saw the greatest amount of purchases in 5 years, suggesting that the economy is growing again after the 2008 recession 5 years ago.
more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Tobacco-free plan for Irish Republic

Tobacco-free plan for Irish Republic | CLSG Economics: Markets and Market Failure | Scoop.it
The Irish health minister publishes a plan to make the state "tobacco-free" by 2025.
Isha Patel's insight:

Tobacco is seen as a necessity to some. It's demand curve is inelastic- this means that if it was to be de-normalised, the demand may remain fairly similar and people would find a new way to get the tobacco i.e. the black market. This would neither help the population to wean themselves off tobacco or reform an 'immoral' smoking society.

more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Blackberry agrees possible sale

Blackberry agrees possible sale | CLSG Economics: Markets and Market Failure | Scoop.it
Struggling smartphone maker Blackberry agrees in principle to be bought by a consortium led by Fairfax Financial for $4.7bn (£3bn).
more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Excess demand: Apple iPhone 5S: 'Shortage' Of New Models

Excess demand: Apple iPhone 5S: 'Shortage' Of New Models | CLSG Economics: Markets and Market Failure | Scoop.it
New models of the iPhone 5S appear on eBay for as much as £2,000, as stores run out of the hotly-anticipated phone.
more...
No comment yet.
Scooped by Isha Patel
Scoop.it!

Bale and the market

Bale and the market | CLSG Economics: Markets and Market Failure | Scoop.it
#ECON1 #ECON3 Interesting @ASI blog on Gareth Bale. Is it fair that he costs ~£100m whilst nurses are paid a fraction?http://t.co/JQ8WYT6pKN
more...
No comment yet.