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This article discusses how petroleum countries in South Africa were fined for price-fixing. This is an example of large firms who form a collusive oligopoly, because they are working together to agree on prices that will maximize their joint revenue. However, due to the fact that this means higher prices for consumers, it was an illegal agreement and so the firms are being fined.

Hello, In this article it talks about how the Venezuelan government are trying to control inflation by setting fixed prices. The government's policy of price control demonstrate faith that one day they might succeed and lower their inflation rate which is at 27 per cent, the same as last year. The government are imposing a new law which the price controls will affect five general areas; personal and domestic hygiene products, car parts, medicines and health services and food. The government tries to prevent companies from "hoarding and speculation" and "exploiting the people". Also, the prices for 18 products are being frozen, and companies like Heinz, Pepsi, Coca Cola, and Nestle need 'special' attention. People say that the fear the private companies how will lead to more shortages and more inflation. From Tim

A tad early, but Christmas music will be coming on the radio next week! At least here in DC.. The article outlines a government plan to make a little extra revenue, and how that plan was so fiercely opposed. The tax would be imposed on the producers, given that they produce more than 500 trees a year, and in turn the producers would probably have to increase their prices. Since it is a specific tax with a fixed amount of $0.15 (not dependent on the price of the trees) it will shift the supply curve up. Even though the article states that the program "wouldn't have any impact on the final price consumers pay for their Christmas tree" - there would be an inevitable small impact at least in one retail area of the trees. Since there are so many consumers that will want Christmas trees, a tax would bring in a fair amount of money, as there are no substitutes for Christmas trees.

Are individuals having the chance to control their payment by using direct debit or is it Direct debit controlling each individuals payment schedule (watch only 1st part of the video) Money is still withdrawn from an individuals account even if there is nothing there. They could face fees from their bank (and sometimes their supplier) if they don't have sufficient funds to cover the payments. Because fixed direct debit payments are calculated using previous consumption figures, some payment amounts will not be exactly equal to the individuals actual usage. This means they may end up paying too much or too little to their supplier. The individual would also lose some flexibility in the way they manage their finances.