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Saturday, 21 October 2017

Traffic jams and market failure

Click here to access a recent piece in the Guardian about congestion in the UK. It is a real problem with estimates of cost to the economy in the billions!
Classic example of market failure, government failure, opportunity cost, scarce resources, you name it....

Wednesday, 18 October 2017

Three, must watch movies for economists!

There are hundreds of movies about macro economics and its impact on society and people lives, here are three (academy award nominated) recent ones!

 Also, check out this latest post from the Key.

All Year Groups: Inflation in UK hits a 5 year high

Click here to access an article from the BBC on the latest rate of inflation data! What does this mean for interest rates? What does this mean for pay and living standards in the UK? Why has this happened?

Saturday, 14 October 2017

IGCSE - Command Vs Free Market Economies

Bernie Saunders on Trade Unions

Short interview with Bernie Saunders explaining the benefits to society of having strong trade unions.

Labour Markets - Wage determination

The labour market wage determination from mattbentley34

Essay Question:

Although there has been laws against wage discrimination for many years in the UK, women's average wages are still around 20% less than men.

Explain the factors that might account for the continuing difference between male and female earnings. (15 Marks)

Assess the view that increased trade union membership is the best way to raise women's earnings. (25 Marks)

Tuesday, 10 October 2017

How does this guy compete?

A possible business opportunity for BSAK students?! The clip shows how a budding entrepreneur made some big money by selling sweets in the school playground.