EveryDay Economics by K Shah & Dr I St JohnMonopsony 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…2 min read·Dec 3, 2023----
EveryDay Economics by K Shah & Dr I St JohnAround half of adults are buying less food:Price Elasticity of Demand and Current Inflation6 min read·Jun 1, 2023----
EveryDay Economics by K Shah & Dr I St JohnDiamonds 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…4 min read·May 7, 2023----
EveryDay Economics by K Shah & Dr I St JohnFood 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…7 min read·Apr 5, 2023----
EveryDay Economics by K Shah & Dr I St JohnWhat 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…5 min read·Mar 5, 2023----
EveryDay Economics by K Shah & Dr I St JohnThe 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…4 min read·Dec 12, 2022----
EveryDay Economics by K Shah & Dr I St JohnOn 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…4 min read·Nov 29, 2022----
EveryDay Economics by K Shah & Dr I St JohnGame 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…4 min read·Nov 13, 2022----
EveryDay Economics by K Shah & Dr I St JohnTwitter 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).5 min read·Nov 3, 2022----
EveryDay Economics by K Shah & Dr I St JohnWhat is causing inflation?If you ask Google/Twitter/Any Newspaper … the answer appears to be “Ukraine”.7 min read·Jul 21, 2022--1--1