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BP, Shell raided over alleged price fixing | News.com.au - 1 views

www.news.com.au/...story-fnda1bsz-1226642946822

pricefixing EU shell BP

shared by Jin Seo on 12 Jun 13 - No Cached

cartels
- Jin Seo on 12 Jun 13
  
  formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers?
  
  <div class="cArrow"> </div><div class="cContentInner">formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers?</div>
  
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market manipulation
- Jin Seo on 12 Jun 13
  
  The act of artificially inflating or deflating the price of a security
  
  <div class="cArrow"> </div><div class="cContentInner">The act of artificially inflating or deflating the price of a security </div>
  
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prices of crude oil, refined oil products and biofuels purchases and sales, potentially harming final consumers
- Jin Seo on 12 Jun 13
  
  oil- one of the most inelastic goods due to its high demand and usage in producing a lot of consumer goods
  
  <div class="cArrow"> </div><div class="cContentInner">oil- one of the most inelastic goods due to its high demand and usage in producing a lot of consumer goods </div>
  
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...9 more annotations...
price fixing
- Jin Seo on 12 Jun 13
  
  price fixing = market manipulation
  
  <div class="cArrow"> </div><div class="cContentInner">price fixing = market manipulation </div>
  
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BP, Shell and Norway's Statoil
- Jin Seo on 12 Jun 13
  
  what sort of market structure are they in? oligopoly and their tendency to collude = because they are profit maximizers
  
  <div class="cArrow"> </div><div class="cContentInner">what sort of market structure are they in? oligopoly and their tendency to collude = because they are profit maximizers </div>
  
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European Commission
- Jin Seo on 12 Jun 13
  
  have monitoring for these companies due to high probabilities of collusion
  
  <div class="cArrow"> </div><div class="cContentInner">have monitoring for these companies due to high probabilities of collusion </div>
  
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collude
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prevented others from participating in the price assessment process
- Jin Seo on 12 Jun 13
  
  fairly high barriers to entry - one of the characteristics of an oligopoly
  
  <div class="cArrow"> </div><div class="cContentInner">fairly high barriers to entry - one of the characteristics of an oligopoly </div>
  
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the market vulnerable to abuse
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Consumers need to know that the prices they pay for their energy or petrol are fair, transparent and not being manipulated by traders
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High oil prices are crushing families across Britain
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market transparency
- Jin Seo on 12 Jun 13
  
  EVALUATION: what would the evaluation contain? - is it good or bad? (for consumers (benefits of colluding) and producers) - BP oil competition = shows how having contest ability may be dangerous - what can the governments do to stop collusion from happening?
  
  <div class="cArrow"> </div><div class="cContentInner">EVALUATION: what would the evaluation contain? - is it good or bad? (for consumers (benefits of colluding) and producers) - BP oil competition = shows how having contest ability may be dangerous - what can the governments do to stop collusion from happening? </div>
  
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Jin Seo on 12 Jun 13

Price fixing of oil companies in the EU

<div class="cArrow"> </div><div class="cContentInner">Price fixing of oil companies in the EU</div>

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China's Gold Demand to Slow From April Surge: Association - Bloomberg - 0 views

www.bloomberg.com/...m-april-surge-association.html

gold demand china microeconomics

shared by Jin Seo on 31 May 13 - No Cached

Jin Seo on 31 May 13

Demand of gold in china slows down

<div class="cArrow"> </div><div class="cContentInner">Demand of gold in china slows down </div>

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BP, Shell raided over alleged price fixing | Business News | Business and Finance News ... - 2 views

www.heraldsun.com.au/...story-fndgp8b1-1226642946822

oil pricefixing theoryofthefirm oligopolies

shared by Jin Seo on 31 May 13 - No Cached

crude oil, refined oil products and biofuels purchases and sales
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- Jin Seo on 31 May 13
  
  Oil - one of the most inelastic good
  
  <div class="cArrow"> </div><div class="cContentInner">Oil - one of the most inelastic good </div>
  
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Statoil
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...9 more annotations...
Platts
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final consumers
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colluded
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prevented others from participating in the price assessment process, with a view to distorting published prices.
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price fixing
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cartels
- Jin Seo on 31 May 13
  
  formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers?
  
  <div class="cArrow"> </div><div class="cContentInner">formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers? </div>
  
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High oil prices are crushing families across Britain. Motorists are being taken for a very expensive ride.''
- Jin Seo on 31 May 13
  
  reasons why oligopolies are strictly monitored
  
  <div class="cArrow"> </div><div class="cContentInner">reasons why oligopolies are strictly monitored </div>
  
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- Jin Seo on 31 May 13
  
  and also why oligopolies want to collude to become a monopoly
  
  <div class="cArrow"> </div><div class="cContentInner">and also why oligopolies want to collude to become a monopoly </div>
  
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Libor scandal
- Jin Seo on 31 May 13
  
  largest price fixing scandal
  
  <div class="cArrow"> </div><div class="cContentInner">largest price fixing scandal</div>
  
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transparency.''
- Jin Seo on 31 May 13
  
  what would the evaluation contain? - is it good or bad? (for consumers (benefits of colluding) and producers) - BP oil competition = shows how having contest ability may be dangerous - what can the governments do to stop collusion from happening?
  
  <div class="cArrow"> </div><div class="cContentInner">what would the evaluation contain? - is it good or bad? (for consumers (benefits of colluding) and producers) - BP oil competition = shows how having contest ability may be dangerous - what can the governments do to stop collusion from happening? </div>
  
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  Cancel
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Jin Seo on 31 May 13

oil price fixing in the EU

<div class="cArrow"> </div><div class="cContentInner">oil price fixing in the EU</div>

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Microsoft posts first loss as public company - Business - Al Jazeera English - 1 views

www.aljazeera.com/...201272025825238800.html

microsoft microeconomics economics

shared by Jin Seo on 31 May 13 - No Cached

Microsoft
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- Jin Seo on 31 May 13
  
  Example of a real life monopoly
  
  <div class="cArrow"> </div><div class="cContentInner">Example of a real life monopoly </div>
  
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- Jin Seo on 31 May 13
  
  Total cost > total revenue
  
  <div class="cArrow"> </div><div class="cContentInner">Total cost > total revenue </div>
  
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...3 more annotations...
net loss of $492m
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profit of $5.87bn
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$18bn
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Jin Seo on 31 May 13

Microsoft first loss as a public company

<div class="cArrow"> </div><div class="cContentInner">Microsoft first loss as a public company</div>

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