An interesting tech joint venture. Amazon has invested in Deliveroo - looking to support the food courier.
The BBC uses the announcements by Richer Sounds and BT to look at the incentives for firms to opt for employee-ownership. Higher productivity, lower staff turnover, more innovation and the ability to make better long-term plans. What's not to like? A good read when thinking about the principal-agent problem common to many organisations.
The use of weighted index numbers in A-Level Economics is introduced and explained in this revision video.
Confused by how to calculate and interpret index numbers in A-Level Economics? Don't worry - help is at hand from Ruth at tutor2u Economics.
In this video I have chosen loads of current examples that you might want to use as context in your microeconomics exams.
In this revision video we look at the key differences between perfect competition and a perfectly contestable market. Students often confuse the two so it is important to clarify this before entering an exam.
In this revision video we cover the concept of minimum efficient scale and consider why the estimated MES is likely to vary industry by industry. We then work through some evaluation points on the significance of minimum efficient scale using some topical examples.
In this revision video we look at some examples of barriers to entry in markets and consider some of the factors that might be reducing entry barriers in numerous industries. We then evaluate some of the benefits and drawbacks of lower barriers to entry from the point of view of different stakeholders.
In this revision video we look at some of the revenue and cost factors both in the short and long run that influence the profitability of a business such as Domino’s. We identify some of the cost and revenue perspectives that an A* answer looks at.
In this video we look at different examples of government intervention to address environmental market failure and focus on some of the key evaluation arguments that might be developed in an A* answer.
Understanding the specific causes of environmental failure is crucial to scoring high marks in exams. This is the first video in two looking at the economics of environmental market failure. In the first video we look at some of the major causes of environmental market failure and revising the analysis diagrams that can score high marks in the exam.
Here's this week's economics news quiz. Good luck! PS. Best of luck with upcoming exams!
The appearance of Liverpool and Spurs in the Champions League final and Arsenal and Chelsea in the Europa Cup one has generated massive interest. But the official ticket prices for the games are surprisingly reasonable.
Why Glasses Are So Expensive? One glaringly obvious answer is that Italian firm Luxottica owns 40% of the US market and has a major presence in many other developed and emerging countries. This is classic example of an oligopoly where the dominant brands have significant market power. Watch the video and focus!
Put your revision notes down for 6 minutes to watch this! Why is vanilla so expensive? There is a strong case for saying that the entire A level micro and macro course could be taught just using this video! Can you find 20 relevant concepts and issues?
This study note looks at examples of market failure in the financial system. Market failure occurs when freely-functioning markets fail to deliver an efficient and/or socially optimum allocation of scarce resources.
A number of new banks are attempting to establish themselves in the UK financial system and challenge the dominance of the leading UK commercial banks.
Information failure is inevitable in a world of product complexity - in this revision video we look at examples of information failure, some of the analysis diagrams that can be drawn and some supporting evaluation arguments.
In this revision video we look at recent trends in UK trade union membership, consider how trade unions can affect both pay and employment and challenge the textbook view that union-negotiated pay increases inevitably have negative consequences for employment.
In this revision video we cover key examples of pure and quasi public goods and consider the arguments for and against an increase in government spending on public goods.
In this revision video we consider the important relationship between market structure, the conduct (decisions) of businesses and the likely outcomes for economic efficiency and social welfare. The video suggests higher level evaluation points for longer essay and data response questions on different market structures.
This is the sixth in our series of videos covering key diagrams in micro. In this video we explore some of the labour market diagrams that will help you score top marks for analysis and lay the foundations for strong evaluation.
In this revision video we look through some of the major diagrams that might help you to score high analysis marks in questions on market structures such as perfect competition, monopolistic competition, oligopoly, monopoly and contestable markets
In this revision video we journey through the key diagrams that you need to know on the theory of the firm including cost and revenue curves, profit maximisation and other business objectives and the concept of the shut-down price
This video revises some of the key analysis diagrams that you can use when writing answers to questions on government interventions in markets perhaps to address one or more market failures.
In this revision video we journey through some of the main analysis diagrams that you might use when answering market failure questions. The main focus is on negative and positive externalities.
In this video we cover some of the key supply and demand diagrams, consumer and producer surplus, elasticity of demand and supply and diagrams showing inter-related markets.
The microeconomics paper usually ranges far and wide across many different markets and industries. In this video, I look at some of the issues that have been topical in the last couple of years ranging from environmental market failure, the changing contestability of markets, interventions to change consumer and business behaviour, the role of the state (including nationalisation and public goo...
Examiners want students to build coherent chains of analytical reasoning in their economics papers in order to reach higher levels in the mark scheme. Here is an example on this question: "Examine how a free trade area might stimulate economic growth in Sub-Saharan Africa."
This video provides advice on structuring your answers for the data response and essay component of Edexcel Economics Paper 1 (Micro).
In this revision video we look at the concept of a universal basic income. What is a universal basic income? Which countries and regions are trialing it at the moment? What are some of the main advantages of this policy idea and what are some of the potential drawbacks? Could a universal basic income be an innovative approach in the face of technology-driven unemployment?
Here are five questions on fiscal policy that you can have a go at to test and check your understanding!
In this revision video we look at some of the key diagrams that can be used to help support good level analysis in your macroeconomics exam papers. Download a pdf of the presentation from the link under the video.
This video looks at which topics have been examined so far for Edexcel Paper 2 (Macro) covering themes 2 and 4 of the specification.
This video offers some advice on scoring high marks for analysis when using economics theory diagrams.
Here are five multiple choice questions covering aspects of business pricing strategies so that you can check and test your understanding.
Here are five multiple choice questions covering aspects of financial economics so that you can check and test your understanding.
Here are five multiple choice questions covering aspects of competition policy so that you can check and test your understanding.
Here are 100 multi-choice revision questions for GCSE Economics split into two quizzes (one for micro and one for macro). In each quiz, 10 questions are randomly taken from a bank of the 50 that are available so the quiz can be attempted several times. The questions have been written with both the AQA and OCR specifications in mind. Micro quiz (including introduction to economics, demand and su...
This short video maps the topics on the Edexcel micro specification (Themes 1 and 3) that have been the focus of exams thus far.
Here's this week's economics news quiz. Good luck! PS. Best of luck with upcoming exams!
The concept of regulatory capture is covered in this short revision video. Regulatory capture is a form of government failure. It happens when a government agency operates in favour of producers rather than consumers. This often happens when suppliers have significant lobbying power e.g. with government agencies.
The market for electric vehicles is a superb one to study ahead of a microeconomics exam! There is lots to consider including price determination, market failure, possible government failure and the impact of government intervention in the market.
Here is a quizlet revision activity matching countries with key competitiveness indicators
More competition concerns for Apple, with the EU looking set to investigate Spotify's complaint that Apple's dominance of App Store means that it looks to push Apple music services to the detriment of its rivals.
The Scots lead the way - this time, the Scottish government is looking to introduce a bottle return scheme for plastic drinks containers, cans and glass. As yet, the proposal is that when consumers return the bottles, either over the counter or via a reverse vending machine, they will get a 20p refund. It is thought that there will be a range of locations where consumers will be able to return...
If there were a betting market in future winners of the Nobel prize in economics, MIT’s Daniel Acemoglu would be at pretty short odds. His highly innovative work has already won him a string of prizes.
This 2019 update video summarises some of the main advantages and disadvantages of globalisation and also considers some of the analysis diagrams you might want to draw as part of essay questions on this topic.
The main features and drivers of globalisation are discussed in this short revision video updated for the 2019 exams. Globalisation is the economic integration of different countries through growing freedom of movement across borders of goods, services, capital and people. It is not an inevitable process and indeed, there are several important threats to the globalisation process at the current...
The concept of global value chains, some examples and a range of advantages and drawbacks are covered in this short revision video which is relevant for anyone studying the economics of globalisation.