Why pay more? Counterfeit goods on the rise
Thursday, December 30, 2010
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With the economy in a state, consumers are being increasingly tempted by counterfeit goods which are on sale for a fraction of the price. This video from Sky News explains the situation really well and could be used for a number of topics:
1. Explanation of why GDP is not always a good measure of living standards. As it does not take into account the shadow economy.
2. A downside of increasing VAT as people will be more tempted by counterfeit goods
3. A consequence of low growth and high unemployment
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