Monopsony in Product MarketsA Monopsony in economics refers to a situation where one firm dominates the purchasing of a product in a market. Such Monopsonies are…Dec 3, 2023Dec 3, 2023
Around half of adults are buying less food:Price Elasticity of Demand and Current InflationJun 1, 2023Jun 1, 2023
Diamonds are extremely hard pieces of carbon generated over millions of years.The following two charts show what has been happening to the diamond market. The total demand for natural diamonds had remained broadly…May 7, 2023May 7, 2023
Food Price Inflation — and the Power of Supermarket Oligopolies.If you buy food — and most of us do — you cannot help but notice the significant rise in prices. We know inflation is running high, but…Apr 5, 2023Apr 5, 2023
What do Firms want to achieve? The sobering story of the overly successful Pret a MangerIn much of microeconomics we assume economic actors are seeking to maximise something. A consumer is assumed to be seeking to maximise…Mar 5, 2023Mar 5, 2023
The Market for Luxury Watches & Price Elasticity of DemandDigital technology continues to transform so many areas of life and one of these is time itself. In the past, to know the time, we…Dec 12, 2022Dec 12, 2022
On the Perils of 99p PricingThis Saturday’s Wall Street Journal has an excellent article by Josh Zumbrun on the pitfalls for the unwary shopper of a price ending in…Nov 29, 2022Nov 29, 2022
Game Theory, Oligopoly, and Christmas Advertisinghttps://www.google.com/search?q=john+lewis+christmas+advert+2022+youtube&rlz=1C1GCEA_en&ei=FRZxY7vxMtWBhbIP8J6o4As&oq=john+lewis+christmas+a…Nov 13, 2022Nov 13, 2022
Twitter Blue? Economists have a name for that.You will have no doubt seen that Elon Musk (the world’s richest man) has bought Twitter for the sum of $44bn (about £40bn).Nov 3, 2022Nov 3, 2022
What is causing inflation?If you ask Google/Twitter/Any Newspaper … the answer appears to be “Ukraine”.Jul 21, 20221Jul 21, 20221