What Are The Effects Of Tescos Oligopolistic Market Structure, On Both Consumers And Producers?
What Are The Effects Of Tesco's Oligopolistic Market Structure, On Both Consumers And Producers? During this assignment I wish to highlight the benefits and losses that consumers and suppliers are likely to experience while shopping at Tesco. I would also like to analyse other consequences of Tesco's oligopoly position that seem to affect other aspects of the UK economy. MARKET STRUCTURES I would like to begin by pointing out the major types of market structure, and then focus on the oligopoly market structure, and its behaviour. In economics, market structure is a term that describes the state of a market, with respect to competition. The major market forms are: . Perfect Competition Market Structure Seller Entry Barriers Buyer Entry Barriers Seller Number Buyer Number Perfect Competition No No Many Many 2 Monopolistic competition No No Many Many 3 Monopoly Yes No One Many 4 Oligopoly Yes No Few Many 2. Monopolistic Competition 3. Monopoly 4. Oligopoly The simple characteristics of these market structures can be seen in Figure 1(right.) This table illustrates how the 4 markets work in the real world. Perfect competition is a market in which there are many sellers and many buyers. There are no barriers to entry whatsoever. This is the ideal market structure, however, in a perfect world, it is very difficult to always obtain. A monopoly is
Explore issues using economic concepts and statistical data - International trade
Explore issues using economic concepts and statistical data - International
Economics Coursework
To what extent is Marks and Spencer successful at motivating their employees? Introduction Marks & Spencer (M&S) is a British retailer, with 760 stores in more than 30 countries around the world. It is one of the most iconic and widely recognized chain stores in the UK with 520 stores, and is the largest clothing retailer in the country, as well as being a multi-billion pound food retailer. Most of its shops sell both of these categories. It also has a third line of business selling homewares such as bed linen, but this is far smaller than the other two. In 1998 it became the first British retailer to make a pre-tax profit of over £1 billion.-direct quote from Wikipedia website (http://en.wikipedia.org/wiki/Marks_&_Spencer) Motivation towards better performance depends on the satisfaction of needs for responsibility, achievement, recognition and growth. Needs are felt, and their intensity varies from one person to another and from time to time, and so does the extent to which they are motivating. Behaviour is learned, earned reward encourages even better performance, thus reinforcing desired behaviour. Taylor's Four Principles of Scientific Management In 1911 Frederick Taylor published his work "The Principles of Scientific Management". In this he described how the application of the scientific method to the management of workers could greatly improve productivity.
The Importance of the Canadian Airline Industry.
Introduction: The Importance of the Canadian Airline Industry In today's highly advanced and globalized society, the Canadian airline industry is crucial to the country's economy. Although Canada's largest trade and business partner and, perhaps, vacation destination is the United States, which can often be accessed by car, truck, or train, the airline industry remains vital to Canadian business operations as they continue to expand in order to reach more locations and to exploit the competitive advantages that other countries have to offer. Airlines encourage economic growth and development by providing a quick, efficient means of transportation across the vast country and around the world. For many years, Canada's airline industry was led by the federal government on behalf of the Canadian people. Routes, performance standards, and airfares were controlled by a government agency to ensure that Canadians enjoyed safe and fair-priced air travel. The purpose of regulation was to avoid wasteful and destructive competition among companies, to help the aviation industry grow, and to provide a broad range of national airline services to consumers at the best possible price. However, like all airlines around the world, Canada's carriers eventually faced numerous problems caused by high fuel prices (Appendix 1), worldwide recessions, and decreased demand. Furthermore,
what is economics
Economics Competitive Markets and How They Work essay (50) What is a 'Competitive Market'? * The market economy tries to resolve the economic problem via demand and supply, through the price mechanism * But how do markets work? And how does it allocate scarce resources in relation to our infinite wants * There are many examples of markets, but each has the same basic characteristics: o A willingness to trade or exchange goods and services. This is usually done using money, but bartering may be used in a developing country o A physical place where buyers and sellers can meet or contact each other. * Markets are also competitive * This is because they provide for the resolution of the basic economic problem, whereby scarce resources are allocated via the price system. * In every market where money is used, the products that are bought and sold command a price * This reflects what suppliers wish to sell their product for and what consumers are willing to pay to consume it. * The interaction of buyers and sellers determines the price of a product in any market situation. * The fact that markets are competitive means that prices fluctuate * So if more producers put more of their products on the market, the most likely result is that prices will fall. * The same thing will happen if buyers hold back from purchasing a product * In contrast, if producers restrict what
What are the origins of the Pension Crisis and what can be done to deal with it?
What are the origins of the Pension Crisis and what can be done to deal with it? The recent Pensions Commissions report has pushed the issue of a Pension Crisis to the forefront of public attention, put how did we get there and how can we solve it, these are the questions I will be answering in this report. For a young person like myself, the subject seems a long way off and not something that needs to be dealt with as a priority given the competing demands of education, finding employment, getting on the housing ladder and so on, but having said that, it is an issue that has relevance for us all because not only do we need to think some years ahead about how we are going to live when we no longer work, but it is young people today who will have to take on the burden of paying for an ever growing army of people who may not have sufficient funds on which to live. There is also a much deeper reason why a pensions system is so important. Society values pensions because they contribute to income smoothing by allowing individuals to redistribute consumption over their lifetime so that they don't suffer unanticipated large declines in their living standard when they retire. By contributing to pensions schemes, individuals consume less today than they produce with the expectation of continuing to consume when they have retired and are no longer producing. So a pension can be
Economy and how it affects my business selling tables
| Page ________________ SUPPLY AND DEMAND. Scenario. Imagine you are the owner of a business manufacturing and selling a particular type of table. The average variable costs of producing each table are £180 while the fixed costs are £12,000. Also, you have carried out some market research and found that the total number of customers wishing to buy the table varies with changes in price of the table below: (Q1) Product: table Price (£) Quantity Demanded Total Revenue 00 770 77,000 140 680 95,200 180 610 109,800 220 550 121,000 260 500 130,000 300 460 138,000 340 400 136,000 380 320 121,600 (Q2) £300 would yield the greatest revenue at a quantity of 460 giving total revenue of 138,000. (Q3) Draw the demand curve for the table. Please see graph attached. Now, assume you are willing to supply the following number of tables at different prices: Price. Quantity supplied. 00 220 140 260 180 320 220 400 260 500 300 640 340 880 380 1400 (Q4) Draw a supply curve for the tables on the same diagram as the demand curve for Q3. Please see the graph attached. (Q5) On the supply/ demand diagram find the equilibrium quantities sold/ bought. The equilibrium price (E. Price) I found was 260
Is the Government to Blame for Higher Petrol Prices?
CONTENTS PAGE PAGE NO Introduction 2 Economic Theories 3 - 6 Data Collected 7 Presentation of Findings 8 - 13 Evaluation and Conclusion 14 - 15 Bibliography 16 INTRODUCTION In September 2005 the UK experienced unprecedentedly high petrol prices at filling stations throughout the country. In rural Wales the psychologically important £1/litre was breached for the very first time. What I wish to investigate is what is causing prices to be so high at the pumps at this particular time and why petrol prices are rising faster than the rate of inflation. In 2000 there were widespread protests to the level of government taxation placed upon petrol as it was felt to be excessive and unfair, similar smaller protests occurred this year also. Government Taxation is a major determinant on the price of petrol however there are other factors which determine the price of petrol. The price of petrol is made up of 4 components. The Fuel Duty imposed upon it, the Value Added Tax imposed upon it, the amount the product cost and the retailer/deliverer's overheads. As we all know the two taxes are determined by the government, the product's price is determined by the price of oil and the retailer's/deliverer's overheads by the costs of production associated with selling the oil. I will therefore need to investigate the rate of taxation used
'Although corporate pricing decisions are influenced by many different factors, fundamentally prices will reflect cost and market conditions.Explain and discuss.
For my essay I have chosen the second option available to me, which is: 'Although corporate pricing decisions are influenced by many different factors, fundamentally prices will reflect cost and market conditions. Explain and discuss. Firms have to know not only about costs, but also about revenues when they make pricing and output decisions. In order to understand the relationship between output, revenues and price, a firm has to know the structure of the market or industry in which it is selling its product. There are various market structures, all dependant upon the extend to which buyers and sellers can assume that their own buying and selling decisions do not affect market price. At one extreme, when buyers and sellers correctly assume that they cannot affect market price, the market structure is one of perfect competition. Whenever buyers and sellers must take into account how their individual actions affect market price, we are not in a market structure of perfect competition and have entered an imperfectly competitive market. Such a market is examined later in the essay relating to the extreme on the other side of the line -monopoly. The characteristics of perfect competition The following section will cover how a firm acting within a perfectly competitive market structure makes decision about how much to produce. Before I go ahead with this analysis, I want to
Economics Report on Budget
ECONOMICS COURSEWORK "Everyone benefited from the budget of 2003" BEAL HIGH SCHOOL-13317 UMAR SHEIKH-2202-11GS Economics Report on Budget "Everyone benefited from the budget of 2003t". Introduction The aim of this report is to find out how budget 2003 has affected different groups of people. Has the budget benefited the UK? Does the majority of the UK know about budget? In this report I will find out the answers to these questions and produce a clear conclusion outlining the main factors included in budget 2003 and if it was a success or not. In this report I have to find out if budget 2003 benefited everyone or not. I will need to gather information from different angles to find if budget had an affect on the citizens of Britain. To complete my report I will under go primary and secondary research to find out as much as I can to find out about last years budget. I will apprehend research such as questionnaires, interviews, textbooks etc. My research will be limited as I cannot go through vast amounts of data such as economic journals, surveys and focus groups which are beyond my reach and so my conclusion will present limited amount of data. This report will be structured in a way that you will be able to follow it with simple economic jargon. In the beginning I will present information on budget and have an understanding of it thoroughly to show you that I
