Economics Tutoring

Market structures take up a sizeable part of the A level specification. One of the main criticisms of monopoly and monopsony power is the predatory tactics used against farmers. This is seen as anticompetitive and often exploitative-not only for the farmers, but for the end user to, the consumer.

UK farmers making tiny profits as supermarkets boast record takings Ministers urged to act as study shows average block of cheese or loaf of bread makes farmers less than a penny

Contestable Markets - EU Digital Markets Act
The new European Union Digital Markets Act (DMA) is designed to open up messaging and app buying and diminish the market power of tech giants, like Google and Apple, by forcing them to make their platforms to other developers.

It is designed to increase competition in the sector, and potentially benefit consumers by increasing choice and decreasing their price. The bad news? It's an EU law and won't apply to post-Brexit Britain.

More here in this short background video

The EU Digital Markets Act (VOSTEN) An explanation of the Digital Markets Act and how it will bring fairer conditions to consumers and businesses for digital services across the EU

Cross Elasticity of Demand and Income Elasticity of Demand: Sales of Air fryers, slippers, microwaves and electric blankets soar as costs of households faced with unaffordable energy bills look for ways to reduce their power use. As real incomes fall and prices of goods rise, consumers switch towards substitute goods. The topic of elasticities is a common thread found across AS and A level Economics

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Air fryer and slipper sales surge as UK strives to reduce energy use Consumers move quickly to prepare for unaffordable energy bills despite mild autumn, finds market research

Why are Curling Stones so expensive? There is only one island in the world that produces curling stones permitted by the World Curling Federation and the Olympic Committee.The marginal cost of producing a curling stone, coupled with the increase in the demand for the sport has seen the price of each stone exceed $600

Very interesting watch

Why Olympic Curling Stones Are So Expensive | So Expensive | Business Insider A single curling stone certified for the Olympics costs over $600. That makes a full set of 16 stones worth $9,600. Since 2006, every stone used in the Olymp...

UK business insolvencies reach a 13 yr high - taking us back to 2009 and the aftermath of the global financial crisis. This is seen as a leading indicator pointing to slowing growth and the possibility of a recession in the UK this autumn and into 2023. Lack of consumer confidence, supply chain shortages and climbing cost of materials all contributing factors.

Company insolvencies hit 13-year high in England and Wales ONS says soaring energy costs and supply chain problems forced 5,629 firms to go bust in second quarter

The British pound has tanked, markets are in crisis and economists worldwide are panicking. What’s happening to the British economy? One of the issues studied at AS and A level Economics is how objectives of the BoE and the government can sometimes conflict. Whilst one may be trying to boost the economy through rounds of spending, the other has the objective of reducing inflation and keeping it stable.

UK economy: is there worse to come? The British pound has tanked, markets are in crisis and economists worldwide are panicking. What’s happening to the British economy?00:00 - Britain’s economy...

Here is a perfect example of the price mechanism in action- the foundations of unit 1 Economics. The increase in demand for hotel rooms has put upward pressure on price as suppliers charge more to maximise their revenue and profits.

London hotels raise prices as demand soars before Queen’s funeral The price of some accommodation has apparently increased by more than 300%

Several factors impact exchange rates- here, low confidence in the UK economy from both domestic and international markets has led to a fall in the demand for the Pound, in favour of other currencies, leading to the price of the Pound ,i.e the exchange rate to fall. Whilst lower exchange rates in some cases can add to export competitiveness and increases in growth, here, without confidence in the economy to back this up, the fall in the Pound may only exacerbate prices as the price of imports increase- adding to the already high level of inflation.

Pound falls to lowest level against dollar since 1985 It comes after the Bank of England warned that little could be done to stop a recession in the UK.

This BBC clip looks at how the cost of living crisis has been caused by a variety of factors, both demand and supply side shocks; climate change, Covid and Russia's war in Ukraine - all of which have combined to create the 'perfect storm'. Volatility of commodities from wheat to fossil fuels and their impact on inflation is studied extensively at AS level and is a popular topic assessed by examiners.

What links the cost of living crisis, climate change, China, Covid and the Ukraine war? - BBC News There are the links between the biggest global series of the year - the cost of living crisis, climate change, China, Covid and the war in Ukraine.The BBC’s ...

Sony raises prices of Playstation consoles by 6%, but to what extent are Playstation users sensitive to price increases? Will they still buy them regardless? Really interesting application of Demand, Supply and Price Elasticity of Demand- key concepts covered in AS Economics.

Sony raises global prices of PlayStation 5 outside US market Gaming console maker says inflation rates and supply shortages have led to ‘challenging economic conditions’