http://www.tutor2u.net/blog/index.php/gcse-economics/ en tutor2u.net Copyright 2012 2012-05-24T08:32:03+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ipad-mini http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ipad-mini#When:09:10:26Z Here is a great story on how firms compete. Apple is planning to launch an assault against the Android tablet market by releasing an ‘iPad Mini’ - at a loss-making price of around £150, new claims suggest. MICROECONOMICS TOPICS, Competitive markets, 2012-05-11T09:10:26+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-the-market-for-ipads http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-the-market-for-ipads#When:08:32:27Z This week sees the launch of the latest IPad to scenes of overnight queues and fanfares from Apple. RESOURCE SERIES, Demand and Supply in Action, MICROECONOMICS TOPICS, Competitive markets, Price mechanism, 2012-03-17T08:32:27+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-economies-of-superbowl-advertising http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-economies-of-superbowl-advertising#When:22:50:15Z A highlight of the year for many sports fans, the Superbowl presents advertisers with a unique opportunity to reach over 110 million captive viewers. RESOURCE SERIES, Super Starter Sunday, MICROECONOMICS TOPICS, Costs revenues and profit, 2012-02-05T22:50:15+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/tescos-market-share-drops http://www.tutor2u.net/blog/index.php/gcse-economics/comments/tescos-market-share-drops#When:21:09:12Z Tesco’s market share has fallen below 30% for the first time in 7 years. This time last year Tesco commanded a 30.5% market share. Sainsbury’s and Iceland both saw their market shares rise. MICROECONOMICS TOPICS, Competitive markets, 2012-01-31T21:09:12+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/perfectly-price-inelastic-supply http://www.tutor2u.net/blog/index.php/gcse-economics/comments/perfectly-price-inelastic-supply#When:15:30:07Z What cost $10 in 1937 and would now set you back $1 million? RESOURCE SERIES, Demand and Supply in Action, Super Starter Sunday, MICROECONOMICS TOPICS, Competitive markets, EXAM BOARD SUPPORT, OCR GCSE Economics, 2012-01-20T15:30:07+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/sales-will-take-their-toll http://www.tutor2u.net/blog/index.php/gcse-economics/comments/sales-will-take-their-toll#When:10:09:31Z Interesting figures released today by the Office for National Statistics show that retail sales, excluding fuel, grew 0.6% in December 2011 compared with November 2011. These figures represented a 1.7% increase from December 2010. This seems to paint a rosy picture. MICROECONOMICS TOPICS, Competitive markets, 2012-01-20T10:09:31+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/starting-a-business-video http://www.tutor2u.net/blog/index.php/gcse-economics/comments/starting-a-business-video#When:14:42:45Z This video clip is more of a business one but still great for Economists as well. Deborah Meaden on BBC news this morning talking about entrepreneurs and starting a business. Click here to see the video MICROECONOMICS TOPICS, Competitive markets, 2012-01-03T14:42:45+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/price-elasticity-of-supply http://www.tutor2u.net/blog/index.php/gcse-economics/comments/price-elasticity-of-supply#When:15:37:37Z Heston Blumenthal’s Hidden Orange Christmas pudding is expected to sell out once again at Waitrose as the last few reach the shops next week. MICROECONOMICS TOPICS, Competitive markets, 2011-11-27T15:37:37+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/stat-for-the-day-housing-market http://www.tutor2u.net/blog/index.php/gcse-economics/comments/stat-for-the-day-housing-market#When:09:13:21Z According to new research from the Bank of England young people should be prepared to rent until the age of 44. A leading member of the Bank said homeownership in Britain is set to fall sharply and the number of people forced to rent will rise. Homeownership has fallen from 70.9% in 2003 to 67.4% today with the rest of people renting. MICROECONOMICS TOPICS, Competitive markets, 2011-11-24T09:13:21+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/costs-of-production-iphone-4s http://www.tutor2u.net/blog/index.php/gcse-economics/comments/costs-of-production-iphone-4s#When:10:03:22Z The graphic below is a great way to help to explain to students about costs of production and value added. The iPhone 4S costs £499 in the shops. However you may be surprised to hear that the total cost of producing it is £112.89. MICROECONOMICS TOPICS, Competitive markets, 2011-11-13T10:03:22+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/vat-relief-on-dvds http://www.tutor2u.net/blog/index.php/gcse-economics/comments/vat-relief-on-dvds#When:10:12:06Z The Treasury is scrapping an exemption on VAT for goods valued at less than £15 dispatched from the Channel Islands RESOURCE SERIES, Super Starter Sunday, MICROECONOMICS TOPICS, Competitive markets, MACROECONOMICS TOPICS, Fiscal policy, 2011-11-09T10:12:06+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cost-cutting-at-cadbury http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cost-cutting-at-cadbury#When:08:51:00Z In an effort to maintain profit margins as the price of commodities rise Cadbury are cutting the number of chocolates in their tins of Roses and Heroes but keeping the price the same. The weight of a tin of Roses is to be reduced from 975g to 850g. This means 11 fewer chocolates. MICROECONOMICS TOPICS, Competitive markets, 2011-09-05T08:51:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/shoppers-flock-to-aldi http://www.tutor2u.net/blog/index.php/gcse-economics/comments/shoppers-flock-to-aldi#When:09:09:00Z Normal service now resumes. Having finished marking lots of great GCSE papers I am done for another year! So I am sure we have all noticed the price of our weekly shop is constantly rising. I was shocked when I got to the till at Tesco this week! Well it seems that the squeeze on our incomes in pushing people towards shopping at discount shops like Aldi. MICROECONOMICS TOPICS, Competitive markets, 2011-07-20T09:09:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/to-rent-or-buy-that-is-the-question http://www.tutor2u.net/blog/index.php/gcse-economics/comments/to-rent-or-buy-that-is-the-question#When:08:09:00Z The number of private renters in the housing market has increased by 1 million since 2005. The number of owner-occupied houses has fallen in this period. The data below would make a good delicious data piece: MICROECONOMICS TOPICS, Competitive markets, 2011-07-07T08:09:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/peppa-pig-the-cash-cow http://www.tutor2u.net/blog/index.php/gcse-economics/comments/peppa-pig-the-cash-cow#When:09:29:00Z As a mum of small children I know all about Peppa Pig! For those that do not know, Peppa is a cartoon character who loves jumping in muddy puddles. Peppa has become big business not only is it a favourite on TV for many young children but there is a huge array of merchandise that can be bought. According to the latest industry figures, Peppa is now the fourth-highest selling character toy in Britain – ahead of Thomas the Tank Engine and Fireman Sam. MICROECONOMICS TOPICS, Competitive markets, 2011-05-24T09:29:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-crisps-are-made-technological-economies-of-scale http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-crisps-are-made-technological-economies-of-scale#When:09:31:20Z Here is a nice video to use when explaining how large companies can benefit from technological economies of scale allowing their cost per unit to reduce. It takes you through all of the stages of making crisps, not surprisingly everything is done by machines. It could also be used for a lesson on how companies are trying to become more energy efficient. MICROECONOMICS TOPICS, Costs revenues and profit, 2011-05-23T09:31:20+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-bumper-strawberry-crop http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-bumper-strawberry-crop#When:09:16:00Z Another great demand and supply in action story to help you revise. Here we see the weather affecting the supply of strawberries (W in PINTSWC). Due to the excellent weather in the UK in April there has been a bumper crop of strawberries already. This is excellent news for British firms as their sales have increased significantly. MICROECONOMICS TOPICS, Price mechanism, 2011-05-10T09:16:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-paper-book-vs-the-e-book http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-paper-book-vs-the-e-book#When:20:18:00Z Here is a great short audio clip which looks as paper books and e books as substitutes. It make a great starter for revision of demand and supply. MICROECONOMICS TOPICS, Competitive markets, 2011-05-03T20:18:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/virgin-active-to-snap-up-esporta http://www.tutor2u.net/blog/index.php/gcse-economics/comments/virgin-active-to-snap-up-esporta#When:15:16:01Z This is a great news story for budding economists. Virgin Active gyms who own 71 fitness clubs in the UK is set to buy the 51 Esporta fitness clubs for £77.6 million. A great case study to discuss the benefits and costs of growth to firms. The takeover still needs to go through the Office of Fair Trading. Click here to read more. MICROECONOMICS TOPICS, Growth of firms, 2011-04-26T15:16:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-summer-sale-starts-now http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-summer-sale-starts-now#When:07:09:00Z It may have been a little warmer over the weekend but don’t let that fool you that summer is just around the corner. Well it would seem that Debenhams thinks that summer is here. They have just launched their summer sale! Debenhams says its Spring/Summer collections have combined savings of £150m, with tens of thousands of new season lines reduced by up to 25%. MICROECONOMICS TOPICS, Competitive markets, 2011-03-02T07:09:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-computer-games http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-computer-games#When:10:08:00Z Nintendo’s profits fell sharply in 2010. Having previously had much success with the Wii where demand outstripped supply they are now pinning their hopes on the new 3DS portable gaming console. Here is a great short video to show students when studying competition. MICROECONOMICS TOPICS, Competitive markets, 2011-03-01T10:08:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/its-a-strange-world http://www.tutor2u.net/blog/index.php/gcse-economics/comments/its-a-strange-world#When:20:19:00Z When I saw this story I had to check it wasn’t April 1st. The Covent Garden ice cream shop Icecreamist have come up with a new flavour, using human breast milk. The ice cream, called Baby Gaga goes on sale today and will cost £14 for a serving. It will be served with a rusk and an optional shot of Calpol or Bonjela. This could be used as an interesting demand story, will there be any demand? There is a good short video with this article MICROECONOMICS TOPICS, Competitive markets, 2011-02-25T20:19:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/video-of-the-week http://www.tutor2u.net/blog/index.php/gcse-economics/comments/video-of-the-week#When:10:58:00Z These two videos looking at Britain’s last surviving teddy bear factory covers a number of topics in economics. This first video looks at the problems that Merrythought Ltd have faced and the initiatives they have taken to ensure their survival. MICROECONOMICS TOPICS, Competitive markets, 2011-02-22T10:58:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-wensleydale http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-wensleydale#When:12:04:00Z Another great competition in action story here. This time it is cheese. Wensleydale cheese is undergoing a £1 million re-branding with the help of Wallace and Gromit. MICROECONOMICS TOPICS, Competitive markets, 2011-02-20T12:04:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-subaru http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-subaru#When:21:05:00Z In an apparent dig at its competitors Lexus and Nissan, Subaru in Canada have produced a great new advert for its Forester. Subaru have used ‘sexy’ Sumos in a series of scenes to promote their car. Some may say this is a clever move by Subaru as you will not only remember it but you are actively seeking out the Forester so as to not have to look at the ‘sexy’ Sumos. MICROECONOMICS TOPICS, Competitive markets, 2011-02-19T21:05:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-power-of-advertising http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-power-of-advertising#When:11:58:01Z We all know that one of the factors that can cause the demand curve to shift is advertising (A in PASIFIC). Clearly Simon Cowell feels that advertising is very important. During last nights Super Bowl in the US, Simon and his new show had a 30 second advert. With an estimated 100 million viewers watching the Super Bowl it seems like a good idea. But how much would you pay to place an advert in this slot? MICROECONOMICS TOPICS, Competitive markets, 2011-02-07T11:58:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/rubbish-are-we-going-to-be-limited-to-80-bags-a-year http://www.tutor2u.net/blog/index.php/gcse-economics/comments/rubbish-are-we-going-to-be-limited-to-80-bags-a-year#When:09:49:01Z Local councils are considering limiting the amount of rubbish that will be collected from peoples homes to just 80 bags a year. So what happens if you produce more? Either you drive to the tip or you buy more bags. The scheme is already in use with one council and is being introduced by another whilst under consideration by up to 180 more. So why is this happening? MICROECONOMICS TOPICS, Market failure, 2011-01-25T09:49:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/will-the-pound-shop-have-to-change-its-name http://www.tutor2u.net/blog/index.php/gcse-economics/comments/will-the-pound-shop-have-to-change-its-name#When:14:10:03Z So have you like me thought what will the pound shop do because of the increase in VAT, commodity prices and fuel prices. Will they have to change their name? Here the BBC have a great short video telling us what is happening to keep prices down. MICROECONOMICS TOPICS, Competitive markets, 2011-01-18T14:10:03+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-games-consoles http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-games-consoles#When:20:38:00Z This a great video to start the new term with. Many of our students will have been given a games console at Christmas. This video could spark a great discussion on what features of a games console makes them buy them. This will lead into a general discussion on how firms compete. MICROECONOMICS TOPICS, Competitive markets, 2010-12-28T20:38:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/take-that-add-tour-dates-to-keep-up-with-demand http://www.tutor2u.net/blog/index.php/gcse-economics/comments/take-that-add-tour-dates-to-keep-up-with-demand#When:14:50:00Z Last month Innes wrote about excess demand for Take That tickets. In response to this Take That have released a further 4 tour dates. You could use the following article as a short data response with the following questions: MICROECONOMICS TOPICS, Competitive markets, 2010-12-08T14:50:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/its-manic-monday http://www.tutor2u.net/blog/index.php/gcse-economics/comments/its-manic-monday#When:15:00:01Z Are you one of the many people on the internet today doing your Christmas shopping? Dubbed Manic Monday, today is supposed to be the busiest day for online Christmas shopping. An expected £537 million will be spent today. MICROECONOMICS TOPICS, Competitive markets, 2010-11-29T15:00:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-reindeer-meat http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-reindeer-meat#When:07:39:00Z With just 41 days to go till Christmas I am sure our thoughts are turning towards presents, mince pies, christmas trees and reindeer. However, I am sure that we have not been thinking about eating reindeer meat. Discount supermarket chain Lidl have taken the decision this year to sell reindeer meat. MICROECONOMICS TOPICS, Competitive markets, 2010-11-15T07:39:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/labour-markets-in-action-mi5-targets-women http://www.tutor2u.net/blog/index.php/gcse-economics/comments/labour-markets-in-action-mi5-targets-women#When:13:06:00Z The supply of women for jobs in the M15 has decreased. This is thought to be due to television shows like Spooks portraying the more violent, bloody side of the job and therefore putting women off. MICROECONOMICS TOPICS, Rewards for labour, 2010-11-08T13:06:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/delicious-data-5-house-prices-again http://www.tutor2u.net/blog/index.php/gcse-economics/comments/delicious-data-5-house-prices-again#When:13:51:00Z Another great graphic for students to develop their data description skills. RESOURCE SERIES, Delicious Data, MICROECONOMICS TOPICS, Competitive markets, 2010-10-29T13:51:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/apple-by-numbers http://www.tutor2u.net/blog/index.php/gcse-economics/comments/apple-by-numbers#When:15:07:00Z As we approach half term this article would make a great discussion. MICROECONOMICS TOPICS, Competitive markets, 2010-10-20T15:07:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/gaviscon-huge-fine-competition-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/gaviscon-huge-fine-competition-in-action#When:15:02:00Z This story really interested me as Gaviscon is my new best friend at present! Gaviscon producers have been fined a huge £10.2m by the Office of Fair Trading. The fine is all to do with an abuse of dominance by Gaviscon producers Reckitt Benckiser. For those who don’t know, Gaviscon is used for the treatment of heartburn. It was claimed that Gaviscon used its dominance in the market to act in an anti-competitive way. This article provides further information. MICROECONOMICS TOPICS, Competitive markets, 2010-10-15T15:02:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/delicious-data-4-house-prices-again http://www.tutor2u.net/blog/index.php/gcse-economics/comments/delicious-data-4-house-prices-again#When:07:11:00Z News came this week which will strike fear into many a homeowner. According to Halifax UK house prices fell 3.6% in September. This drop was the biggest fall in month-on-month prices since the figures were first compiled in 1983. Demand and supply factors are at work here - an increased number of properties available for sale in recent months had pushed down prices. This has come at the same time as demand for homes had fallen owing to “renewed uncertainty” about the economy and jobs. RESOURCE SERIES, Delicious Data, MICROECONOMICS TOPICS, Competitive markets, 2010-10-08T07:11:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/growth-of-firms-british-airways http://www.tutor2u.net/blog/index.php/gcse-economics/comments/growth-of-firms-british-airways#When:11:38:00Z This is a great little audio on the new joint venture from British Airways, American Airlines and Iberia. It makes a great starter on growth of firms. Containing lots of key concepts for teachers to discuss with their students such as monopoly. MICROECONOMICS TOPICS, Growth of firms, 2010-10-06T11:38:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/possibly-the-best-video-to-start-the-week http://www.tutor2u.net/blog/index.php/gcse-economics/comments/possibly-the-best-video-to-start-the-week#When:07:21:00Z What is better than starting the week with a short video. This video could probably be used with both year 10 and year 11 classes. With year 10 there are great ideas for demand and supply of pumpkins. For year 11 globalisation issues. Click here to watch the video. MICROECONOMICS TOPICS, Competitive markets, 2010-10-04T07:21:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/national-minimum-wage-october-2010 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/national-minimum-wage-october-2010#When:07:15:01Z As of today the National Minimum wage rate for workers aged over 21 will rise to £5.93 from £5.80. The qualifying age rate has also been extended at this level from 22 to 21. There will also be the introduction of an apprenticeship rate of £2.50. The new rate will apply to apprentices under 19 and apprentices aged 19 and over, but in the first year of their apprenticeship. The new rates for workers aged 18 to 20 is £4.92 an hour and for workers aged 16 to 17 is £3.64. All rates have increased by about 2%. MICROECONOMICS TOPICS, Rewards for labour, 2010-10-01T07:15:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-blackberry-to-launch-the-playbook http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-blackberry-to-launch-the-playbook#When:09:23:00Z A great example of how firms compete here, Blackberry are to launch their own version of Apple’s iPad, calling it the PlayBook. MICROECONOMICS TOPICS, Competitive markets, 2010-09-29T09:23:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-could-there-be-a-chocolate-shortage http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-could-there-be-a-chocolate-shortage#When:09:25:00Z This headline is enough to send many chocolate lovers running off to the nearest shop to buy up all the stocks of chocolate! A cocoa pod disease is threatening the supply of cocoa which is used in the production of chocolate. This article is a great read and ideal for pupils to use as a data response for demand and supply. It also makes great reading for year 11 pupils who will be covering the topic of poverty over the course of this year. RESOURCE SERIES, Demand and Supply in Action, MICROECONOMICS TOPICS, Competitive markets, 2010-09-25T09:25:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/renewable-energy-europes-largest-offshore-wind-farm http://www.tutor2u.net/blog/index.php/gcse-economics/comments/renewable-energy-europes-largest-offshore-wind-farm#When:08:46:00Z This a great short video for year 10 economists on renewable energy. There are also great links with negative externalities. MICROECONOMICS TOPICS, Basic economic problem, 2010-09-24T08:46:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/delicious-data-3-house-prices http://www.tutor2u.net/blog/index.php/gcse-economics/comments/delicious-data-3-house-prices#When:08:50:00Z Data released today shows that house prices have fallen for the third month in a row. This has further fuelled the worries over a “double dip”. The average cost of a home for sale in England and Wales is now £229,767. New sellers have dropped their asking prices by 3.4% in the last three months. There are record levels of houses unsold. RESOURCE SERIES, Delicious Data, MICROECONOMICS TOPICS, Competitive markets, 2010-09-20T08:50:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/price-of-coffee-rises-demand-and-supply-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/price-of-coffee-rises-demand-and-supply-in-action#When:07:37:00Z The price of coffee on the futures market has risen to a 12 year high this week. The reason behind this rise is the shortage in supply due to poor crops this year. Add to this increasing demand due to the popularity of coffee shops like Starbucks and Costa coffee we are seeing the price of coffee beans rising. A great task here would be to ask students to draw and explain a demand and supply diagram explaining these changes. For more information read this article. RESOURCE SERIES, Demand and Supply in Action, MICROECONOMICS TOPICS, Competitive markets, 2010-09-14T07:37:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ryanair http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ryanair#When:11:22:00Z This is a really interesting one in terms of competition. As we know all firms are trying to reduce their, especially at present, in order to keep their prices low to compete with other firms. Ryanair have made a rather interesting suggestion in order to help them reduce their costs. They would like to take out the co-pilot on short flights. MICROECONOMICS TOPICS, Competitive markets, 2010-09-08T11:22:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/banks-whos-in-with-who http://www.tutor2u.net/blog/index.php/gcse-economics/comments/banks-whos-in-with-who#When:07:46:00Z I really like this interactive guide from the Guardian. It gives you information on the banks that are linked to each other. It would be quite a good starter for growth of firms. MICROECONOMICS TOPICS, Growth of firms, 2010-09-06T07:46:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/no-frills-hotel-video http://www.tutor2u.net/blog/index.php/gcse-economics/comments/no-frills-hotel-video#When:13:27:00Z I few weeks ago I wrote a blog about Tune - the new no-frills hotel chain that has come to London. Here is a great short video from the BBC about what you do and don’t get. It would make a great start to the new term for year 10 Economists. MICROECONOMICS TOPICS, Competitive markets, 2010-08-30T13:27:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-new-lower-fat-mars-bars http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-new-lower-fat-mars-bars#When:17:56:00Z Fantastic news for chocolate lovers from Mars, they have developed a Mars bar which contains 15% less saturated fat. MICROECONOMICS TOPICS, Competitive markets, 2010-08-25T17:56:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-the-housing-market-again http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-the-housing-market-again#When:09:00:00Z Figures today show that asking prices for houses have lowered for the second month in a row. This is explained quite simply by our demand and supply diagram. The supply of houses has shifted to the right in recent months as home owners become a little more confident. Along side this demand has shifted to the left. RESOURCE SERIES, Demand and Supply in Action, MICROECONOMICS TOPICS, Competitive markets, 2010-08-17T09:00:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-pay-extra-for-a-clean-hotel-room http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-pay-extra-for-a-clean-hotel-room#When:17:44:00Z Malaysian hotel chain Tune Hotels, a no frills hotel chain is set to come to London. At just £35 a night for a room what would you expect to get? A bed, a shower and a central London location. Anything more and you have to pay. For example getting your room cleaned will cost £7.50 and the use of a hair dryer is £2. This is an interesting concept. I recently looked at staying in a hotel in London in August and was shocked at the high prices they were charging. This may well be an excellent idea and may help to bring down the prices of the competition. MICROECONOMICS TOPICS, Competitive markets, 2010-08-09T17:44:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/shall-we-have-squirrel-for-dinner-tonight http://www.tutor2u.net/blog/index.php/gcse-economics/comments/shall-we-have-squirrel-for-dinner-tonight#When:07:47:00Z Squirrel is not normally the meat of choice on the British dinner table but Budgens has decided to offer squirrel in one of its London stores. An interesting way to compete, offering a different high protein, low fat meat to entice customers in. This article provides an interesting read. MICROECONOMICS TOPICS, Competitive markets, 2010-07-30T07:47:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-metro-bank http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-metro-bank#When:17:20:00Z Metro Bank opened this morning, the first new high street bank to open in 100 years. It is a fantastic case study on how to compete in a market dominated by a some large banks. MICROECONOMICS TOPICS, Competitive markets, 2010-07-29T17:20:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/enough-cocoa-to-make-5-small-chocolate-bars http://www.tutor2u.net/blog/index.php/gcse-economics/comments/enough-cocoa-to-make-5-small-chocolate-bars#When:09:33:00Z It has been reported that Anthony Ward, a hedge fund investor, has just bought £650m worth of cocoa beans. This is the biggest single cocoa trade in 14 years. I wrote a blog earlier in the year about the price of cocoa rising due to an increase in demand. So why buy so much? Well it looks like he is trying to corner the market and in some years time make a good amount of money out of it. This is a really interesting article for some summer reading. MICROECONOMICS TOPICS, Competitive markets, 2010-07-23T09:33:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-the-housing-market1 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-the-housing-market1#When:17:48:00Z It has been reported today that a flood of houses onto the market is likely to cause the average house to fall over the next six months. This article is a great one for pupils to read and then construct a demand and supply diagram. If we think ahead to the GCSE exam pupils will be expected to draw a demand and supply diagram using information given to them and then describe what has happened to price and quantity sold, they may also be asked to explain why the change has happened. You could extend some of your pupils by asking them to consider the PED and PES for the housing market. RESOURCE SERIES, Demand and Supply in Action, MICROECONOMICS TOPICS, Competitive markets, 2010-07-19T17:48:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/pay-gap-quiz http://www.tutor2u.net/blog/index.php/gcse-economics/comments/pay-gap-quiz#When:08:34:01Z A new government report as found that the gap between the rich and the poor is worse now than it was 40 years ago. The BBC have produced a short quiz which would make a greater starter or discussion points in a lesson. MICROECONOMICS TOPICS, Rewards for labour, 2010-06-16T08:34:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/coffee-prices-rising http://www.tutor2u.net/blog/index.php/gcse-economics/comments/coffee-prices-rising#When:07:27:00Z Due to poor harvests in Vietnam and Central America supply of coffee beans has been significantly reduced therefore increasing the price significantly. In just 3 days last week coffee prices rose by 20%. If we think in terms of our demand and supply analysis, the supply curve will shift to the left, therefore increasing price. MICROECONOMICS TOPICS, Competitive markets, 2010-06-16T07:27:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/school-uniform-price-war-intensifies http://www.tutor2u.net/blog/index.php/gcse-economics/comments/school-uniform-price-war-intensifies#When:10:11:00Z I am sure we have all seen the adverts on TV from the leading supermarkets saying how cheap you can buy school uniform. It looks as if the price war is set to intensify as Tesco have announced that you can by a school uniform from them for just £3.75. With polo shirts for 50p, sweaters for £1.75 and trousers or skirts for £1.50 it looks like these are the cheapest around. A complete uniform at Sainsbury’s will cost parents just £4.66 - £2 each for sweatshirts, skirts and trousers and a pack of three polo shirts. Asda is selling a pack of two polo shirts for £2, trousers or skirts for £3 and sweatshirts for £2 - a total cost of £6. MICROECONOMICS TOPICS, Competitive markets, 2010-06-15T10:11:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cup-a-wine-takes-off http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cup-a-wine-takes-off#When:09:55:00Z Marks and Spencer took a gamble on this product when the Dragons on Dragons Den said no. It looks like the gamble paid off as M&S struggles to keep up with demand. The product is an interesting one, wine in a glass. No need for a corkscrew and the glass is provided. MICROECONOMICS TOPICS, Competitive markets, 2010-06-15T09:55:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/apple-overtakes-microsoft http://www.tutor2u.net/blog/index.php/gcse-economics/comments/apple-overtakes-microsoft#When:21:45:00Z The launch of the ipad and the sucess of the ipod have led to Apple overtaking Microsoft in size. This video would make a good starter for revising growth of firms. MICROECONOMICS TOPICS, Growth of firms, 2010-05-27T21:45:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/asda-to-buy-netto-growth-of-firms http://www.tutor2u.net/blog/index.php/gcse-economics/comments/asda-to-buy-netto-growth-of-firms#When:21:32:01Z Asda has announced that it is to takeover the small discount supermarket Netto. This is a great example of horizontal integration (takeover of a firm at the same stage of the production process). So why have Asda done it. The move will 193 smaller stores to the Asda chain. This will increase their market share and allow them to compete better with their main rival Tesco. MICROECONOMICS TOPICS, Growth of firms, 2010-05-27T21:32:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/increased-price-of-cotton-ends-the-era-of-cheap-jeans-demand-and-supply-rev http://www.tutor2u.net/blog/index.php/gcse-economics/comments/increased-price-of-cotton-ends-the-era-of-cheap-jeans-demand-and-supply-rev#When:09:33:00Z Gone are the days of buying a cheap £4 pair of jeans. Rising cotton prices due to supply shortages are the main cause. Following years of low prices US cotton farmers have switched to more lucrative crops leading to a lower supply of cotton (shifting the the supply curve to the left). If we think about the mnemonic PINTSWC here we are looking at N number of firms, the number of firms has decreased. MICROECONOMICS TOPICS, Competitive markets, 2010-05-24T09:33:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-firms-compete-waitrose http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-firms-compete-waitrose#When:09:45:00Z When we buy flowers we want them to last as long as possible. Supermarkets are selling more bunches of flowers which are still to open. This is why Waitrose have decided to introduce ‘scratch and sniff’ labels so customers can smell before they buy but still extend shelf life. This article explains further. MICROECONOMICS TOPICS, Competitive markets, 2010-05-19T09:45:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/asparagus-demand-and-supply-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/asparagus-demand-and-supply-in-action#When:10:13:00Z Asparagus has suddenly become very popular in UK households. Demand in the last year has risen by 15%. It would appear the celebrity chefs on television have inspired people to use asparagus. Also shops like Marks and Spencers and Waitrose have run promotions which have led to increased demand. This BBC article provides great information for students to help them draw and explain a demand and supply diagram. RESOURCE SERIES, Demand and Supply in Action, MICROECONOMICS TOPICS, Competitive markets, 2010-05-04T10:13:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/united-airlines-and-continental-airlines-set-to-merge http://www.tutor2u.net/blog/index.php/gcse-economics/comments/united-airlines-and-continental-airlines-set-to-merge#When:09:21:01Z This is a great case study to look at when studying the growth of firms. Continental and United airlines have announced that the are set to merge. This will give them a combined market share of 21% of the US market. They will become the worlds biggest carrier. MICROECONOMICS TOPICS, Growth of firms, 2010-05-04T09:21:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-nail-varnish http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-nail-varnish#When:08:18:00Z The nail varnish above retails at £19 a bottle, however on ebay it is going for upwards of £45, why? RESOURCE SERIES, Demand and Supply in Action, MICROECONOMICS TOPICS, Competitive markets, 2010-03-31T08:18:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/petrol-prices-on-the-rise-again-video http://www.tutor2u.net/blog/index.php/gcse-economics/comments/petrol-prices-on-the-rise-again-video#When:10:27:00Z This is a great short video which could act as a starter. Students could be asked to draw demand and supply diagrams to show the increase in tax on petrol from the 1st April. Students could also look at the elasticity of demand for petrol and how that affects the equilibrium quantity. MICROECONOMICS TOPICS, Competitive markets, 2010-03-16T10:27:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/50-of-towns-have-5-supermarkets-on-their-doorsteps-competition-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/50-of-towns-have-5-supermarkets-on-their-doorsteps-competition-in-action#When:12:24:01Z This headline really struck me today and is great to use with GCSE students when discussing competition. The data below would be great for a data reponse: MICROECONOMICS TOPICS, Competitive markets, 2010-03-09T12:24:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/1-roast-dinner-inferior-goods http://www.tutor2u.net/blog/index.php/gcse-economics/comments/1-roast-dinner-inferior-goods#When:23:04:01Z The recession has brought us an increase in the number of inferior goods (goods that as incomes fall demand rises) on offer. Lidl have done really well through the recession. They have now come up with the £1 roast dinner: MICROECONOMICS TOPICS, Competitive markets, 2010-03-07T23:04:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/calls-for-a-rise-in-tax-on-tobacco-demand-and-supply-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/calls-for-a-rise-in-tax-on-tobacco-demand-and-supply-in-action#When:22:39:00Z A great article today from Sky about suggestions that tax on tobacco should be increased by 5%. This could be used for revision of demand and supply ahead of the summer exams. RESOURCE SERIES, Demand and Supply in Action, MICROECONOMICS TOPICS, Competitive markets, 2010-03-07T22:39:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/skilled-labour-shortage-in-the-farming-sector http://www.tutor2u.net/blog/index.php/gcse-economics/comments/skilled-labour-shortage-in-the-farming-sector#When:19:29:00Z A really interesting article and video on Sky News about the impending skilled labour shortage in the farming sector. MICROECONOMICS TOPICS, Rewards for labour, 2010-02-28T19:29:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-demise-of-hummer-demand-and-supply-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-demise-of-hummer-demand-and-supply-in-action#When:23:04:00Z General Motors announced today that Hummer (see picture below) would be no more. There are several factors that have caused demand for Hummer to fall and therefore the demand curve to shift to the left. RESOURCE SERIES, Demand and Supply in Action, MICROECONOMICS TOPICS, Competitive markets, 2010-02-25T23:04:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/champagne-exports-drop-yed-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/champagne-exports-drop-yed-in-action#When:21:02:00Z Exported French champagne dropped by 28% in 2009. Global sales of French brandy Cognac also declined by 15.6%. France is the worlds biggest exporter of wines and spirits. So why has there been such a large drop in these exports? MICROECONOMICS TOPICS, Competitive markets, 2010-02-20T21:02:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/ben-and-jerry-ice-cream-to-go-completely-fair-trade-competition-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/ben-and-jerry-ice-cream-to-go-completely-fair-trade-competition-in-action#When:11:45:00Z Another great BBC video today. Ben and Jerry’s ice cream is going to go completely fair trade. Is this a good way of competing or are they just interested in doing good? You decide. MICROECONOMICS TOPICS, Competitive markets, 2010-02-18T11:45:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/valentines-woe-for-kenyan-flower-growers http://www.tutor2u.net/blog/index.php/gcse-economics/comments/valentines-woe-for-kenyan-flower-growers#When:17:21:00Z How many of us were treated to a rose or two this Valentines day? No doubt the demand for roses increased significantly up to Valentines day. However there has not been that high demand for flowers this year, causing real problems for the Kenyan flower growing industry. MICROECONOMICS TOPICS, Competitive markets, 2010-02-15T17:21:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-loyalty-card-competition-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/the-loyalty-card-competition-in-action#When:10:51:00Z 15 years ago Tesco launched the Clubcard. As a reward for shopping in stores customers build up rewards which are exchanged for discount vouchers. This is a great way for supermarkets to compete with each other, in fact a year after its introduction Clubcard holders were spending 28% more at Tesco and 16% less at Sainsbury’s. Unsurprisingly Sainsbury’s responded with the Nectar card. Approximately 85% of households in the UK have at least one loyalty card. MICROECONOMICS TOPICS, Competitive markets, 2010-02-09T10:51:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-much-labour-markets-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/how-much-labour-markets-in-action#When:22:42:00Z It was reported last week that Emma Watson was the highest earning woman in Hollywood in 2009 with £20 million. What means that Emma Watson can earn so much money? MICROECONOMICS TOPICS, Rewards for labour, 2010-02-07T22:42:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/99p-pint-is-this-right http://www.tutor2u.net/blog/index.php/gcse-economics/comments/99p-pint-is-this-right#When:20:37:00Z JD Weatherspoon’s are under fire for introducing a two week promotion that puts the price of pint of Greene King Ruddles, a Gordon’s gin and mixer, a glass of wine or a bottle of Carlsberg Export lager at just 99p. As a demerit good alcohol has negative externalities and if left to the free market would be over consumed. Concerns are that a promotion like this would encourage binge drinking. MICROECONOMICS TOPICS, Competitive markets, 2010-02-07T20:37:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/fun-fact-friday-fat-tax http://www.tutor2u.net/blog/index.php/gcse-economics/comments/fun-fact-friday-fat-tax#When:12:16:01Z Innes talked last week about a fat tax. The key issue is how fair would this type of tax be. This weeks fun fact looks at the percentage of households that buy too much saturated fat (by income). MICROECONOMICS TOPICS, Competitive markets, 2010-01-29T12:16:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cadbury-takeover-market-structure-in-action http://www.tutor2u.net/blog/index.php/gcse-economics/comments/cadbury-takeover-market-structure-in-action#When:10:55:00Z Now that the takeover of Cadbury by Kraft has been agreed we are left with 4 dominant firms in the chocolate market in the UK; Mars, Ferrero, Nestle and Cadbury/Kraft. This graphic from the Guardian is great for showing how big each firm is in the market. It will be interesting to see if this merger will create greater economies of scale for the Kraft/Cadbury firm which will mean possibly in the long run a greater number of products due to research and development increasing. MICROECONOMICS TOPICS, Competitive markets, 2010-01-21T10:55:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-human-bed-warmers http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-human-bed-warmers#When:13:55:01Z I just had to write about this when I read this. How often do you get into bed and it is really cold? Well if you are staying at a Holiday Inn this feeling could be a thing of the past. Don’t worry you will not be having to share your bed with anyone. The walking electric blankets are dressed in special all-in-one sleeper suits and are sent to warm the Holiday Inn beds before guests get under the covers. MICROECONOMICS TOPICS, Competitive markets, 2010-01-18T13:55:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/on-this-day-10-years-ago http://www.tutor2u.net/blog/index.php/gcse-economics/comments/on-this-day-10-years-ago#When:13:32:01Z Glaxo Wellcome and SmithKline Beecham merged to become Glaxo SmithKline. The £107bn merger of two British pharmaceutical firms aimed to become the largest pharmaceutical firm globally. It is in fact now the second largest pharmaceutical firm in the world. The companies products include: Aquafresh, Tums and Lucozade. MICROECONOMICS TOPICS, Competitive markets, 2010-01-18T13:32:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/labour-markets-in-action-spanish-air-traffic-controllers http://www.tutor2u.net/blog/index.php/gcse-economics/comments/labour-markets-in-action-spanish-air-traffic-controllers#When:10:24:00Z The job of air traffic controller is difficult and stressful, requiring super concentration. In order to become an air traffic controller you must pass a series of tough exams, psychological and medical tests and under go at least a years training. It is no wonder from this information that air traffic controllers are paid very highly. MICROECONOMICS TOPICS, Rewards for labour, 2010-01-18T10:24:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ray-ban http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ray-ban#When:14:20:00Z This caught my eye this morning. Firms are trying all the time to find new ways to compete with each to get more customers and ultimately more profit. Ray ban (the sunglasses company) have set up a production company called ‘Never Hide Films’ complete with its own youtube channel. By tapping into a growing trend of consumers watching youtube videos Ray ban have managed to get a lot of people talking about their product. MICROECONOMICS TOPICS, Competitive markets, 2010-01-16T14:20:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/growth-of-firms-poundland http://www.tutor2u.net/blog/index.php/gcse-economics/comments/growth-of-firms-poundland#When:08:42:01Z How many of us bought something in Poundland over the Christmas period? I, like many others did. The chain saw sales surge by 34.8% in the five weeks to January 3, with revenues from stores open at least a year up 4.4%. The chain have opened 46 new stores in the UK since April 2009. They plan to open another 50 in the next year adding to the current 254 shops they currently own. MICROECONOMICS TOPICS, Growth of firms, 2010-01-12T08:42:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/camel-milk-anyone http://www.tutor2u.net/blog/index.php/gcse-economics/comments/camel-milk-anyone#When:10:30:00Z Most of us will be putting cows milk on our breakfast cereal in the morning, some may use goats milk or soya milk. This year you will be able to buy camel milk from Dubai. Camelicious, may be heading to a supermarket near you in 2010! MICROECONOMICS TOPICS, Competitive markets, 2010-01-02T10:30:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/surge-in-demand-for-home-grown-christmas-trees http://www.tutor2u.net/blog/index.php/gcse-economics/comments/surge-in-demand-for-home-grown-christmas-trees#When:10:03:00Z Who would have thought that a weak pound would increase the demand for British Christmas trees. Most Christmas trees make their way from Denmark to the UK for Christmas, however, this year as the pound has weakened it has meant that the imported Christmas trees are 30% more expensive. MICROECONOMICS TOPICS, Competitive markets, 2009-12-11T10:03:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/go-gos-gone http://www.tutor2u.net/blog/index.php/gcse-economics/comments/go-gos-gone#When:20:47:00Z We reported on a blog a few weeks ago that there were concerns that there would be toy shortages at Christmas as manufacturers have misjudged the demand. Well it looks like this has happened with the must have toy, Go Go Pets. MICROECONOMICS TOPICS, Competitive markets, 2009-12-01T20:47:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/its-mega-monday http://www.tutor2u.net/blog/index.php/gcse-economics/comments/its-mega-monday#When:10:50:01Z Today is the day when online stores are expecting their highest takings of the year! Experts predict £400m will be spent in the run up to Christmas. As the UK is expected to be out of recession soon consumers have much more confidence than this time last year. MICROECONOMICS TOPICS, Competitive markets, 2009-11-30T10:50:01+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/woolworths-1-year-on http://www.tutor2u.net/blog/index.php/gcse-economics/comments/woolworths-1-year-on#When:04:41:00Z 1 year ago Woolworths went bust. For many this was the defining moment in the recession. So what has happened in the last year? MICROECONOMICS TOPICS, Competitive markets, 2009-11-26T04:41:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/petrol-prices-set-to-rise http://www.tutor2u.net/blog/index.php/gcse-economics/comments/petrol-prices-set-to-rise#When:18:00:00Z The cost of a barrel of oil has risen from $40 a year ago to $80 now with the price expected to rise even further in the coming months. These oil tankers are apparently refusing to dock and unload their contents until the price of oil rises! MICROECONOMICS TOPICS, Competitive markets, 2009-11-19T18:00:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-video-on-ba-and-iberia-merger http://www.tutor2u.net/blog/index.php/gcse-economics/comments/great-video-on-ba-and-iberia-merger#When:08:36:00Z Following on from my blog yesterday I have found a great video clip on the proposed merger of BA and Iberia. Willie Walsh talks about the synergies that are going to occur due to the merger. MICROECONOMICS TOPICS, Growth of firms, 2009-11-14T08:36:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/ba-and-iberia-economies-of-scale http://www.tutor2u.net/blog/index.php/gcse-economics/comments/ba-and-iberia-economies-of-scale#When:09:36:00Z The proposed merger of British Airways and Iberia shows types of economies of scale very nicely. Economies of scale occur when a firm grows larger its long run average costs fall. If we remember the mnemonic we used for types of economies of scale - Really, Fun, Mums, Try, Making, Pies, we can then apply this to the merger. MICROECONOMICS TOPICS, Growth of firms, 2009-11-13T09:36:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/toy-shortage-at-christmas http://www.tutor2u.net/blog/index.php/gcse-economics/comments/toy-shortage-at-christmas#When:18:21:00Z Have toy manufacturers misjudged the amount of sales this Christmas? With the UK still in a recession toy manufacturers could have presumed that Santas budget was much lower this year and therefore produced fewer toys. MICROECONOMICS TOPICS, Competitive markets, 2009-11-11T18:21:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ms-to-sell-top-brand-names http://www.tutor2u.net/blog/index.php/gcse-economics/comments/competition-in-action-ms-to-sell-top-brand-names#When:10:20:00Z Marks and Spencer have recently lost market share in part due to the emergence of Waitrose but also due to shoppers trading down supermarkets due to the recession. Well M&S have decided to fight back. MICROECONOMICS TOPICS, Competitive markets, 2009-11-06T10:20:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-the-housing-market http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-the-housing-market#When:09:10:00Z The housing market has seen six consecutive months of price increases suggesting an upturn. We have also seen the first annual percentage price rise, 2% on the previous year. MICROECONOMICS TOPICS, Competitive markets, 2009-10-31T09:10:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/price-war-in-the-mortgage-market http://www.tutor2u.net/blog/index.php/gcse-economics/comments/price-war-in-the-mortgage-market#When:11:27:00Z Competition in most markets is great for the consumer. It can help to drive down prices and improve quality. The market for mortgages is no exception. Nationwide have this week slashed interest rates on their mortgages and are once again offering 95% mortgages. MICROECONOMICS TOPICS, Competitive markets, 2009-10-16T11:27:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-sunday-supply-and-demand-special http://www.tutor2u.net/blog/index.php/gcse-economics/comments/super-starter-sunday-supply-and-demand-special#When:17:49:00Z This has been a fantastic week to teach supply and demand as there have been so many stories in the news that could be used as examples. This super starter has bought them all together and would work as a great starter where the pupils have to guess the news stories using the pictures or could be used as the basis of a whole supply and demand lesson. I am going to ask my students to draw a supply and demand diagram for each example and show whether there is a shift in supply or demand. MICROECONOMICS TOPICS, Price mechanism, 2009-10-11T17:49:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-champagne-affected-by-the-recession http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-champagne-affected-by-the-recession#When:07:56:00Z As a luxury good it is probably unsurprising to hear that the sales of champagne have dropped significantly. MICROECONOMICS TOPICS, Competitive markets, 2009-10-10T07:56:00+00:00 http://www.tutor2u.net/blog/index.php/gcse-economics/comments/house-prices-rising-but-could-it-all-be-about-to-stop http://www.tutor2u.net/blog/index.php/gcse-economics/comments/house-prices-rising-but-could-it-all-be-about-to-stop#When:06:38:00Z House prices have been on the rise for the last five months after a disastrous year of falls. The average price of a house in the UK in September stands at £161,816. This figure is £19 higher than this time last year. If we go back to February this year the average house price had slumped to £147,746. MICROECONOMICS TOPICS, Competitive markets, 2009-10-03T06:38:00+00:00