An oligopoly is the most likely market structure to promote consumer welfare as it is likely to deliver the lowest prices. Oligopolies are made up of big firms who have greater economies of scale than firms in perfect or monopolistic competition. This means they can keep production costs lower and charge lower prices. Even though there are only a few firms in the market, if … Continue reading The case for oligopolies
North Sea oil supplies are running out. Peak oil extraction has been surpassed. The government’s policy of heavily subsidising renewable energy has cost the taxpayer billions and pushed household electricity bills up by £17 a year on average. The pressure to meet targets for carbon emission reductions has left the government forcing the closure of all coal power stations by 2025. Without a plausible reaction … Continue reading The UK is facing an energy crisis
Blockchain is said to be the technology which will have the greatest social impact over the next decade, more so than social media, Artificial Intelligence, and Big-Data. Moreover, this effect will not only occur in the developed world, but also in the developing one. Hearing this, you’d be forgiven for being sceptical, forgiven for wondering how this unknown Blockchain technology will become the most impactful … Continue reading Is Blockchain the most important technology of our time?
The European Union has set the target for the energy consumption of all it’s member states to be 20% renewable by 2020. While currently Brexit is being negotiated, in 2015, the UK was given its own special target of 15% because of it’s its “low starting point”. The UK Great Britain has consistently lagged behind its European counterparts, ranking 24th out of 28 neighbouring states … Continue reading To burn or not to burn? Fuelling the future
Entertainment software firms are changing business models to send profits into game-changing territory Continue reading Electronic Arts: An example in business model innovation
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