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Why pay more? Counterfeit goods on the rise

Jim Riley

30th December 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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Jim Riley

Jim co-founded tutor2u alongside his twin brother Geoff! Jim is a well-known Business writer and presenter as well as being one of the UK's leading educational technology entrepreneurs.

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