Group items tagged

This article talks about the logistics of scraping the license fee that finances one of the worlds most famous examples of a public good, the BBC. Economic stagnation and falling wages have left many consumers disgruntled at the license fee and with the BBC failing to keep up with it's competitors in terms of revenue, costs have had to be cut at the world renowned corporation. The article explores the concept of the public good and how politicians have began to propose alternatives to the license fee.

This article demonstrates how the BBC monopoly was ended in 1955. It shows that monopoly is a bad thing and that it actually harms the consumer ( in this case the people who watched Tv). BBC's monopoly was somehow used to change people's point of view or to make them think in a certain way. This demonstrated the negative sides of a monopoly. 

This article from the BBC News website details how Royal Mail, the recently privatised public service has seen a 2% increase in revenues. Th controversial move triggered widespread uproar from opponents and share prices rose rapidly above the target when the company was floated in October 2013. This article shows that despite the move the firm has continued to make money and appears to be in no immediate danger.

Talks are taking place between the EU and the USA to create the worlds biggest free trade area. In many goods the US is seen to have an absolute advantage in producing many goods but they also rely on European countries to provide many components to US businesses. This trade deal, although opposed by Unions and other activitists is seen by many to be vastly beneficial to the two parties.

The article is talking about the overall decrease in output in the UK. According to the article, some industries have been responsible for this, such as the industries of electronics, food and beverages. This hence affected the overall economical situation in the country which also affected the levels of imports and exports. The interesting thing is that even though the production has fallen in the short run, in the long run it was doing okay this demonstrates how we shouldn't judge from the short run situation and that we should take a look the overall result from the long run 

this is a very interesting article that demonstrates the total revenues and how they can fall or raise, it also compares different years' revenues and shows us how intel plans to overcome the fall in revenue. 

This article is about colleges merge ring. you can see that it is very similar to businesses merge ring. The cost will be cut and performance will be better. The article also shows that the impact i the short run will not be big, however, it i will start to show in the long run. this is exactly the case with any other merger of any type of business. 

This article talks about price discrimination. In Australia, the government things that the prices are higher than anywhere else in the world ( prices charged by foreign companies). In my opinion, this is because these major companies had the ability to discriminate, due to income, which is found to be higher and the geographical destination. It is a third degree discrimination. All the required conditions for discrimination were available. The companies have ability to set prices, as they are in an oligopoly competition. The consumers in other parts in the world are not likely to by the product and sell it to Australians. And price elasticity in Australis is found to be higher due to the higher income they have, 

Real Madrid CF have reported to give Cristiano Ronaldo a new contract making him the most expensive player in football. Now the question is will the club benefit from all this money being spent on this one player? This this the opportunity cost Real Madrid are taking hoping this will lead them to some football glory 

I believe you are right. I never though of applying economic concepts to sports and especial soccer. But you are right, soccer teams are similar to companies now days and some are even in the stock market. They are investing money on Cristiano Ronaldo hoping to get back some glory and therefore money. I find that is horrible to classify a soccer player and therefore a human being as an economic good.

This article talks about how the number of children submitted to hospital with asthma has decreased by 12% after smoking bans were put in place. This shows that the externality created by smoking is negative, it does not only affect the individual but the society as well therefore the social costs are greater than the private benefits. It shows how government intervention helps reduce the negative externalities.

The article: http://www.bbc.co.uk/news/health-21067532 This article talks about how the "number of children admitted to hospital with severe asthma" has decreased by 12% in the first year after the ban on smoking in public places. It is also thought that people are opting for smoke - free homes as well, further reducing the negative externalities of smoking.

showing that a surplus is not always desirable

The attached article concerns the apparent recovery of the British economy according to the business lobby group 'British Chambers of Commerce'. They forecast economic growth to reach 2.8% this year (a rise of 0.1% from previous forecasts). This is extremely pertinent given the imminent announcement of the new government budget on March 19th.

This is present event which is highly connected with price controls. The Venezuelan President is supporter of this policy and even used army to make sellers low their price. The sellers of electronics wanted to increase the prices due to the fact of inflation.

This article shows how the demand for 3D TV's is increasing but broadcasters continue to not offer much 3D content to their viewers. 3D TV's were predicted by many to be a commercial failure, as the home experience is said to be not as good as the cinema experience but demand has continued to rise among consumers. Broadcasters however are not so keen to provide 3D content as they have their ever changing gaze to future investment in 4K technology in the continuous attempt to keep up with the relentless pace of modern technology.

I think that one of the reason that will not allow 3D technology to get popular is its very high cost. This is not only for consumers who are buying the TVs and Glasses, but also for producers. IT is an extra cost, without an extra profit.

This article concerns the publication by the Office of National Statistics that, after six years, the weekly wages have met inflation rates.

This article is about how some of the 6 largest banks have been fined £2.6 billion for manipulating exchange rates for a number of years. The case is a good indication of the importance of exchange rates and that well-known and supposedly well-respected banks are willing to take the risk of committing this crime.

This article presents how a report done by the Monetary Policy Committee of the UK has lead to the value of the pound falling slightly against the dollar. This shows how the direct action of a central bank (here refusing to increase the interest rate) can impact the exchange rate.