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Thursday, 16 February 2017

Theme 3: Supermarkets, competition and oligolopy

I just read this interesting article on UK supermarkets. It highlights how the different ways of competing affect the perception and demand for their goods and services.

Useful when discussing/evaluating price Vs non-price competition. For example, ASDA's prodce is only seen as 'average', but this has not really effected sales in these difficult economic times!

Wednesday, 15 February 2017

Theme 1: Reducing negative externalities and using resources more efficiently

An interesting clip that touches upon at least two negative externalities.
Because of changing soil conditions, Taiwanese farmers have switched from producing crops - presumably because of environmental degradation - to using the sites to generate renewable energy - and reducing the negative externalities associated with less environmentally-friendly methods of energy production.

Tuesday, 14 February 2017

Theme 3: Price Discrimination: Airports and car parking

A clear example here of seasonal price discrimination by many of Britain's biggest airports.

The Independent compared prices for a week’s parking at Britain’s top 10 airports on a range of dates over the coming year and found that Manchester and Gatwick raise their charges by as much as half. Birmingham airport charges 57 per cent more during April, which includes the Easter holidays, than in March.
Naturally the airports justify their price hikes by saying that prices are rising to balance seasonal demand with a fixed capacity of car parking spaces. They claim to offer off-peak discounts at other times but this will do little to assuage the anger of families who are already paying more for their half term and termly holiday breaks as holiday companies increase prices at popular times of the year.
According to the Independent, car parking rates at Stansted, Glasgow and Newcastle remain constant. Heathrow has a weekly rate of £73 for the Terminal 5 long-stay car park almost year-round.

Monday, 13 February 2017

Theme 4: Essay Example on international competitiveness

All Themes: Exam Technique: How to answer the new spec questions

Theme 2 & 4: Demand Management Policies

In today's lesson you will be split into 4 groups. Each group will look at the same issue but use either fiscal or monetary policy to solve the problem.

Group 1 & 2: The UK economy is in a deep recession. Using fiscal policy, evaluate measures the UK government could use to achieve its macro-economic objectives (25 marks)

Group 3 & 4: The UK economy is in a deep recession. Using monetary policy, evaluate measures the UK government could use to achieve its macro-economic objectives (25 marks)

You will present your findings to the other group tomorrow and then to the whole class.

Two useful presentations on demand management to help you:

Thursday, 9 February 2017

Theme 4: Sweden and the 6 hour working day

Sweden has been experimenting with six-hour days, with workers getting the chance to work fewer hours on full pay, but now the most high-profile two-year trial has ended - has it all been too good to be true?

Click here to read the article discussing the results.