The document provides a mark scheme for the Edexcel GCE Economics exam from January 2006. It outlines the answers and number of marks awarded for multiple choice and longer questions in Section A and B. Section A covers topics like mergers, oligopoly, costs and revenue. Section B involves questions on the low-cost airline industry, regulation of Royal Mail, and assessing contestability. The mark scheme emphasizes definitions, calculations, diagrams, and evaluation in awarding marks for responses.
EdExcel Economics Unit 3 Micro - 16 Mark Data Questiontutor2u
This is a suggested answer plan to a 16-mark EdExcel Unit 3 data response question on: "To what extent does the threat of competition affect a firm’s behaviour. Use an industry of your choice."
This document contains the mark scheme for Edexcel GCE Economics (6354) from Summer 2005. It provides the answers and marking schemes for 10 multiple choice questions and 1 essay question with 3 parts on the topics of:
1) Perfect competition and price discrimination
2) Conditions for profitable price discrimination and why it may be more common in airlines than pharmaceuticals
3) Impacts of the internet on market contestability
The mark scheme outlines the key points examiners are looking for in responses and the number of marks awarded for correct or partially correct answers. It serves as guidance to ensure consistent evaluation of answers addressing the given economic concepts.
This document provides the mark scheme for the 2008 summer GCE Economics exam. It outlines the answers and marks awarded for each multiple choice and long answer question. For question 1, the answer is C and up to 3 marks are awarded for explaining the merger's impact on market share and referring to competition authorities. For question 2, the answer is C and up to 3 marks are awarded for defining marginal concepts and applying them to a diagram.
This document provides an examiner's report on the June 2011 GCE Economics exam. It summarizes student performance on each question and provides feedback. For question 1, most students understood characteristics of perfect competition but struggled to fully explain profit maximization. Question 2 caused confusion between tacit and overt collusion. Question 3 was well answered by most using concentration ratios from the data. Overall, the exam was perceived as difficult but the mean score was only slightly lower than the previous year.
The document discusses Brazil's economy between 2002 and 2011 based on two figures and an extract.
Figure 1 shows Brazil's GDP per capita increased from $7,800 to $11,700 over this period. Figure 2 shows Brazil's population grew from 176m to 203m. Therefore, Brazil's total GDP increased approximately 53% from $1.78 trillion to $2.73 trillion.
The extract mentions Brazil's currency, the Real, appreciated nearly 40% against other currencies since 2008. This was due to high interest rates attracting speculative capital inflows and increased exports of commodities like soybeans contributing to a current account surplus.
An appreciation could improve Brazil's current account balance in the short-
This document contains sample questions and suggested answers about oligopolies for the International Baccalaureate (IB) Economics exam. It includes questions about drawing diagrams of non-collusive oligopolies and explaining price rigidity; reasons why firms may wish to collude; and whether governments should intervene in oligopolistic markets that possess monopoly power. The answers provide definitions, diagrams, theories and examples to fully address each question in 10-15 marks as required by the IB exam.
Edexcel Practise AS Paper - Theme 2 Mark Schememattbentley34
The document is a practice exam paper for Economics (AS) from Edexcel. It contains 4 multiple choice questions and short answer questions about topics such as GDP, inflation, investment, and unemployment.
Some key details extracted from the summary are: GDP per capita in the UK fell by around 5% between 2008 and 2011 according to the table provided. An increase in the rate of VAT would cause the equilibrium level of real national output to fall and the average price level to rise. Business confidence was lowest in the last quarter of 2011 based on the chart shown. The total addition to an economy’s capital stock taking into account the level of depreciation of capital is the definition of net investment.
1. The document is a practice exam paper for Economics (AS) that contains 5 questions regarding the UK economy.
2. Question 1 defines inflation rate and asks about the effects of 4% inflation. Question 2 defines budget surplus and calculates the expected UK budget deficit for 2015-16.
3. Question 3 explains how unemployment can rise while employment increases and identifies the likely consequence of rising unemployment. The document contains exam questions and supporting information about the UK economy.
EdExcel Economics Unit 3 Micro - 16 Mark Data Questiontutor2u
This is a suggested answer plan to a 16-mark EdExcel Unit 3 data response question on: "To what extent does the threat of competition affect a firm’s behaviour. Use an industry of your choice."
This document contains the mark scheme for Edexcel GCE Economics (6354) from Summer 2005. It provides the answers and marking schemes for 10 multiple choice questions and 1 essay question with 3 parts on the topics of:
1) Perfect competition and price discrimination
2) Conditions for profitable price discrimination and why it may be more common in airlines than pharmaceuticals
3) Impacts of the internet on market contestability
The mark scheme outlines the key points examiners are looking for in responses and the number of marks awarded for correct or partially correct answers. It serves as guidance to ensure consistent evaluation of answers addressing the given economic concepts.
This document provides the mark scheme for the 2008 summer GCE Economics exam. It outlines the answers and marks awarded for each multiple choice and long answer question. For question 1, the answer is C and up to 3 marks are awarded for explaining the merger's impact on market share and referring to competition authorities. For question 2, the answer is C and up to 3 marks are awarded for defining marginal concepts and applying them to a diagram.
This document provides an examiner's report on the June 2011 GCE Economics exam. It summarizes student performance on each question and provides feedback. For question 1, most students understood characteristics of perfect competition but struggled to fully explain profit maximization. Question 2 caused confusion between tacit and overt collusion. Question 3 was well answered by most using concentration ratios from the data. Overall, the exam was perceived as difficult but the mean score was only slightly lower than the previous year.
The document discusses Brazil's economy between 2002 and 2011 based on two figures and an extract.
Figure 1 shows Brazil's GDP per capita increased from $7,800 to $11,700 over this period. Figure 2 shows Brazil's population grew from 176m to 203m. Therefore, Brazil's total GDP increased approximately 53% from $1.78 trillion to $2.73 trillion.
The extract mentions Brazil's currency, the Real, appreciated nearly 40% against other currencies since 2008. This was due to high interest rates attracting speculative capital inflows and increased exports of commodities like soybeans contributing to a current account surplus.
An appreciation could improve Brazil's current account balance in the short-
This document contains sample questions and suggested answers about oligopolies for the International Baccalaureate (IB) Economics exam. It includes questions about drawing diagrams of non-collusive oligopolies and explaining price rigidity; reasons why firms may wish to collude; and whether governments should intervene in oligopolistic markets that possess monopoly power. The answers provide definitions, diagrams, theories and examples to fully address each question in 10-15 marks as required by the IB exam.
Edexcel Practise AS Paper - Theme 2 Mark Schememattbentley34
The document is a practice exam paper for Economics (AS) from Edexcel. It contains 4 multiple choice questions and short answer questions about topics such as GDP, inflation, investment, and unemployment.
Some key details extracted from the summary are: GDP per capita in the UK fell by around 5% between 2008 and 2011 according to the table provided. An increase in the rate of VAT would cause the equilibrium level of real national output to fall and the average price level to rise. Business confidence was lowest in the last quarter of 2011 based on the chart shown. The total addition to an economy’s capital stock taking into account the level of depreciation of capital is the definition of net investment.
1. The document is a practice exam paper for Economics (AS) that contains 5 questions regarding the UK economy.
2. Question 1 defines inflation rate and asks about the effects of 4% inflation. Question 2 defines budget surplus and calculates the expected UK budget deficit for 2015-16.
3. Question 3 explains how unemployment can rise while employment increases and identifies the likely consequence of rising unemployment. The document contains exam questions and supporting information about the UK economy.
EdExcel Economics Unit 3 Micro - 16 Mark Questiontutor2u
This is a suggested answer to a 16 mark question for the EdExcel Unit 3 Micro paper - “Assess ways in which government intervention might promote competition within markets” (16 marks)
This document discusses different market structures including perfect competition, monopoly, monopolistic competition, and oligopoly. It begins by introducing the Structure-Conduct-Performance model which links market structure to firm behavior and performance. The key aspects of market structure are the number of firms, product differentiation, barriers to entry/exit, resource mobility, and information availability. Perfect competition is characterized by many small firms, homogeneous products, free entry and exit, and perfect information. A monopoly involves a single seller of unique products with high barriers to entry. The document explores firm behavior and equilibrium under different market structures.
Sample economics papers (Units 1-4) & Mark Schemesmattbentley34
1) The passage discusses increasing taxes and charges on motoring in the UK. These include higher fuel taxes, vehicle excise duty, and congestion charges.
2) A pilot road pricing scheme will be introduced in 2010, where drivers pay based on time of day and congestion levels. This aims to reduce non-essential journeys and increase traffic flow.
3) However, concerns exist that road pricing may negatively impact certain routes without charges and low-income drivers. It could also reduce labor mobility.
This document discusses key concepts in game theory and provides examples of how game theory can be applied to economics. It covers topics like the prisoner's dilemma, pricing games between firms, and evaluating factors like first mover advantage. Examples are given around oil markets, price wars, and advertising spending. Limitations of game theory are noted, such as its tendency to oversimplify complex business decisions.
Price leadership occurs in oligopolistic markets where one dominant firm sets the price that competitors feel compelled to match. This avoids uncertainty for all firms. For price leadership to work, the market must have few firms, restricted entry, homogeneous products, inelastic demand, similar cost structures, and one technologically superior leader. There are different types of price leadership depending on whether the leader has the lowest costs, the largest market share, or best ability to forecast conditions. In all cases, the leader initiates well-publicized price changes that smaller rivals follow to leverage the leader's expertise and stability and avoid price wars. However, anti-monopoly laws restrict abusive behavior from price leadership.
The document discusses markets for various goods and classifies them as perfectly competitive, monopolistically competitive, or monopolistic. It then analyzes the characteristics of firms in these different market structures and how they determine profit maximizing price and output. The document also provides examples of how individual firms might behave in these market contexts.
Students should be able to:
Use simple game theory to illustrate the interdependence that exists in oligopolistic markets
Understanding the prisoners’ dilemma and a simple two firm/two outcome model. Students should analyse the advantages/disadvantages of being a first mover
Students will not be expected to have an understanding of the Nash Equilibrium
How to write the ib economics exam evaluationRaymond Lin
The document provides guidance on writing the IB Economics exam, focusing on time management for both Higher and Standard level exams. It offers tips for effective exam responses, including defining key terms, using examples, clear writing, including diagrams, answering data-based questions, and using command terms. It also outlines the CRAMPSS method for evaluation questions, highlighting the importance of addressing causes and consequences, reliability of data, alternative explanations, macroeconomic goals, pros and cons, short and long term impacts, and effects on stakeholders.
Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Profit Maximisation in A-Level Economics and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas, WJEC).
This document discusses Campbell Soup Company's product lines and marketing strategies. It provides background on the company's history and the soup market in 2002. It then analyzes each of Campbell's main soup products - Soup At Hand, Campbell Condensed Soup, Campbell Chunky, and Campbell Healthy Request. For each product, it proposes target audiences, positioning statements, and rationale. Finally, it offers suggestions for outdoor advertising and messaging strategies to promote the different soup lines.
This document discusses asymmetric information and its effects on markets. It defines asymmetric information as a situation where one party in a transaction has more or better information than the other. This can lead to market failures like adverse selection and moral hazard. Adverse selection occurs when low-quality products dominate the market. Moral hazard arises when parties act in a way that skews an agreement due to hidden actions. The document also discusses solutions like signalling, where sellers find ways to convince buyers of product quality, and principal-agent problems that can occur between business owners and managers.
Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Market Efficiency in A-Level Economics and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas).
The document summarizes key economic concepts related to production possibilities curves, opportunity cost, actual and potential growth, demand and supply, equilibrium price and quantity, changes in demand and supply, price controls, taxes, costs of production, revenues, profits, and price discrimination. It provides graphs and explanations for each concept.
Inflation is caused by printing money faster than producing goods, which leads to rising prices over time. Real GDP accounts for inflation and uses a base year for prices, while nominal GDP uses current prices. The GDP deflator is used to calculate real GDP and inflation rates by adjusting nominal GDP for changes in prices.
Apple uses its retail stores to attract customers and tourists, generating 20% of its revenue. The stores have a calming atmosphere and well-trained staff. While the stores are expensive to operate, they achieve high sales per unit by showcasing Apple's passionately designed products. The stores primarily target high-end consumers and help improve Apple's brand value globally. The document recommends Apple expand to more developing countries where it is currently restricted.
This presentation is made for " Introduction to business" course. It is about Types of competitions in sales market or Market Structure which has 4 types ; Perfect, Monopolistic, Oligopoly, and Monopoly. It includes case study of " Wal-Mart " as well. ( but i'm not sure if it's accurate )
File Format : PPTX Power Point 2007 or Higher.
Miss Nannapat K. ( MUM )
Tim3flies
This document discusses the economic concepts of supply and demand. It begins by asking questions about factors that affect supply and demand, and how supply and demand determine price and quantity. It then defines key terms like market, competitive market, demand schedule, demand curve, individual demand versus market demand. It discusses factors that can shift the demand curve, like number of buyers, income, prices of related goods, tastes, and expectations. It then defines the supply schedule, supply curve, individual supply versus market supply. Finally, it discusses factors that shift the supply curve, like input prices, technology, number of sellers, and expectations.
The document provides general marking guidance for examiners evaluating exam responses. It outlines principles such as treating all candidates equally, marking what is shown rather than penalizing omissions, and awarding all marks that are deserved according to the mark scheme. It also provides examples of how to mark specific types of questions, such as multiple choice questions and data questions, including awarding levels of response. The document aims to promote consistency across examiners in applying the mark scheme.
Markets can become more contestable through deregulation, tougher competition laws, and new technologies lowering entry costs. Contestable market theory holds that the threat of entry, not just current competitors, keeps prices low and forces firms to act efficiently. For example, the open skies agreement allowed more airlines to compete on transatlantic routes, threatening British Airways' profits from high-fare passengers. While no market is perfectly contestable, the degree of competition/threat of entry is what matters most according to this theory.
EdExcel Economics Unit 3 Micro - 16 Mark Questiontutor2u
This is a suggested answer to a 16 mark question for the EdExcel Unit 3 Micro paper - “Assess ways in which government intervention might promote competition within markets” (16 marks)
This document discusses different market structures including perfect competition, monopoly, monopolistic competition, and oligopoly. It begins by introducing the Structure-Conduct-Performance model which links market structure to firm behavior and performance. The key aspects of market structure are the number of firms, product differentiation, barriers to entry/exit, resource mobility, and information availability. Perfect competition is characterized by many small firms, homogeneous products, free entry and exit, and perfect information. A monopoly involves a single seller of unique products with high barriers to entry. The document explores firm behavior and equilibrium under different market structures.
Sample economics papers (Units 1-4) & Mark Schemesmattbentley34
1) The passage discusses increasing taxes and charges on motoring in the UK. These include higher fuel taxes, vehicle excise duty, and congestion charges.
2) A pilot road pricing scheme will be introduced in 2010, where drivers pay based on time of day and congestion levels. This aims to reduce non-essential journeys and increase traffic flow.
3) However, concerns exist that road pricing may negatively impact certain routes without charges and low-income drivers. It could also reduce labor mobility.
This document discusses key concepts in game theory and provides examples of how game theory can be applied to economics. It covers topics like the prisoner's dilemma, pricing games between firms, and evaluating factors like first mover advantage. Examples are given around oil markets, price wars, and advertising spending. Limitations of game theory are noted, such as its tendency to oversimplify complex business decisions.
Price leadership occurs in oligopolistic markets where one dominant firm sets the price that competitors feel compelled to match. This avoids uncertainty for all firms. For price leadership to work, the market must have few firms, restricted entry, homogeneous products, inelastic demand, similar cost structures, and one technologically superior leader. There are different types of price leadership depending on whether the leader has the lowest costs, the largest market share, or best ability to forecast conditions. In all cases, the leader initiates well-publicized price changes that smaller rivals follow to leverage the leader's expertise and stability and avoid price wars. However, anti-monopoly laws restrict abusive behavior from price leadership.
The document discusses markets for various goods and classifies them as perfectly competitive, monopolistically competitive, or monopolistic. It then analyzes the characteristics of firms in these different market structures and how they determine profit maximizing price and output. The document also provides examples of how individual firms might behave in these market contexts.
Students should be able to:
Use simple game theory to illustrate the interdependence that exists in oligopolistic markets
Understanding the prisoners’ dilemma and a simple two firm/two outcome model. Students should analyse the advantages/disadvantages of being a first mover
Students will not be expected to have an understanding of the Nash Equilibrium
How to write the ib economics exam evaluationRaymond Lin
The document provides guidance on writing the IB Economics exam, focusing on time management for both Higher and Standard level exams. It offers tips for effective exam responses, including defining key terms, using examples, clear writing, including diagrams, answering data-based questions, and using command terms. It also outlines the CRAMPSS method for evaluation questions, highlighting the importance of addressing causes and consequences, reliability of data, alternative explanations, macroeconomic goals, pros and cons, short and long term impacts, and effects on stakeholders.
Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Profit Maximisation in A-Level Economics and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas, WJEC).
This document discusses Campbell Soup Company's product lines and marketing strategies. It provides background on the company's history and the soup market in 2002. It then analyzes each of Campbell's main soup products - Soup At Hand, Campbell Condensed Soup, Campbell Chunky, and Campbell Healthy Request. For each product, it proposes target audiences, positioning statements, and rationale. Finally, it offers suggestions for outdoor advertising and messaging strategies to promote the different soup lines.
This document discusses asymmetric information and its effects on markets. It defines asymmetric information as a situation where one party in a transaction has more or better information than the other. This can lead to market failures like adverse selection and moral hazard. Adverse selection occurs when low-quality products dominate the market. Moral hazard arises when parties act in a way that skews an agreement due to hidden actions. The document also discusses solutions like signalling, where sellers find ways to convince buyers of product quality, and principal-agent problems that can occur between business owners and managers.
Download these notes and other resources at https://WeAreQurious.com/Economics
Teaching, learning and revision notes for Market Efficiency in A-Level Economics and IB Economics for all exam boards (Edexcel, AQA, OCR, Eduqas).
The document summarizes key economic concepts related to production possibilities curves, opportunity cost, actual and potential growth, demand and supply, equilibrium price and quantity, changes in demand and supply, price controls, taxes, costs of production, revenues, profits, and price discrimination. It provides graphs and explanations for each concept.
Inflation is caused by printing money faster than producing goods, which leads to rising prices over time. Real GDP accounts for inflation and uses a base year for prices, while nominal GDP uses current prices. The GDP deflator is used to calculate real GDP and inflation rates by adjusting nominal GDP for changes in prices.
Apple uses its retail stores to attract customers and tourists, generating 20% of its revenue. The stores have a calming atmosphere and well-trained staff. While the stores are expensive to operate, they achieve high sales per unit by showcasing Apple's passionately designed products. The stores primarily target high-end consumers and help improve Apple's brand value globally. The document recommends Apple expand to more developing countries where it is currently restricted.
This presentation is made for " Introduction to business" course. It is about Types of competitions in sales market or Market Structure which has 4 types ; Perfect, Monopolistic, Oligopoly, and Monopoly. It includes case study of " Wal-Mart " as well. ( but i'm not sure if it's accurate )
File Format : PPTX Power Point 2007 or Higher.
Miss Nannapat K. ( MUM )
Tim3flies
This document discusses the economic concepts of supply and demand. It begins by asking questions about factors that affect supply and demand, and how supply and demand determine price and quantity. It then defines key terms like market, competitive market, demand schedule, demand curve, individual demand versus market demand. It discusses factors that can shift the demand curve, like number of buyers, income, prices of related goods, tastes, and expectations. It then defines the supply schedule, supply curve, individual supply versus market supply. Finally, it discusses factors that shift the supply curve, like input prices, technology, number of sellers, and expectations.
The document provides general marking guidance for examiners evaluating exam responses. It outlines principles such as treating all candidates equally, marking what is shown rather than penalizing omissions, and awarding all marks that are deserved according to the mark scheme. It also provides examples of how to mark specific types of questions, such as multiple choice questions and data questions, including awarding levels of response. The document aims to promote consistency across examiners in applying the mark scheme.
Markets can become more contestable through deregulation, tougher competition laws, and new technologies lowering entry costs. Contestable market theory holds that the threat of entry, not just current competitors, keeps prices low and forces firms to act efficiently. For example, the open skies agreement allowed more airlines to compete on transatlantic routes, threatening British Airways' profits from high-fare passengers. While no market is perfectly contestable, the degree of competition/threat of entry is what matters most according to this theory.
Markets can become more contestable through deregulation, tougher competition laws, and new technologies lowering entry costs. Contestable market theory holds that the threat of entry, not just current competitors, keeps prices low and forces firms to act efficiently. For example, the open skies agreement allowed more airlines to compete on transatlantic routes, threatening British Airways' profits from high-fare passengers. While no market is perfectly contestable, the degree of ease of entry and threat of competition influences firm behavior and market outcomes.
1. The document provides advice on drawing effective diagrams for exam questions, including making diagrams about 1/3 of an A4 page, keeping text and diagrams separate, clearly labeling axes and curves, and drawing diagrams at the appropriate technical level required.
2. It then lists 15 common diagrams that may be included in revision materials, covering topics like costs of production, market structures, revenues, and business objectives.
3. Effective diagram drawing is important for exam success, and this document outlines best practices and common diagram types to aid revision.
1) Contestable market theory proposes that markets can achieve perfect competition outcomes through the threat of entry and exit by firms, even with few competitors.
2) Key characteristics of contestable markets include lack of barriers to entry and exit, absence of sunk costs, and perfect knowledge.
3) Governments can increase contestability through deregulation, competition laws, and technology reducing entry costs.
EasyJet has experienced strong growth and financial performance in recent years. It has a leading position in many key European markets and routes. However, it faces some challenges including increasing airport charges, intense competition, and potential disruption from its founder's disputes with the board. Overall, easyJet is well positioned to continue growing its network and capturing opportunities from rising tourism, but must manage costs and risks carefully to sustain its success.
1. The document provides advice on drawing diagrams for economics exams, including leaving space between text and diagrams and clearly labeling axes.
2. It lists 15 diagrams that could be included in the exam, covering topics like diminishing returns, costs in the short run, and game theory models of oligopoly.
3. Students are advised to draw diagrams to the appropriate technical level and not use simple supply and demand analysis when more complex curves are required.
Key Diagrams for A2 Business Microeconomicstutor2u
1. The document provides advice on drawing effective diagrams for exam questions, including making diagrams at least half an A4 page, labeling axes clearly, and drawing diagrams at the appropriate technical level required.
2. It then lists 20 common diagrams that may be included in revision materials or exams, covering topics like diminishing returns, costs curves, revenue curves, perfect competition, monopoly, and oligopoly models.
3. The key messages are to practice common exam diagrams to improve accuracy, and to draw diagrams that match the technical specification required rather than oversimplifying the analysis.
EdExcel Economics Unit 3 Micro - 16 Mark Data Questiontutor2u
This presentation looks at a sample unit 3 question
KAA 8 marks
Evaluation 8 marks
3 KAA points – define, apply, explain (use diagram)
3 Evaluation points – apply, explain to support
Question normally says ”assess” – but it will always require you to use evaluation + a suitable analysis diagram
Some questions will require specific use of game theory as part of the answer
This document provides information on market structure models, specifically monopoly. It defines theoretical monopoly, complex monopoly, and monopolistic power. It also discusses causes of monopoly power such as mergers and takeovers, entry barriers, legal monopolies, and anti-competitive behavior. The document examines price and output under monopoly and shows how monopoly leads to allocative inefficiency. It presents cases against and for monopoly and discusses research tasks on reports about monopolies in the UK bus and airport industries.
This document provides information on market structure models, specifically monopoly. It defines different types of monopolies, including theoretical monopoly, complex monopoly, and examples where monopolistic power can exist. It discusses learning outcomes around analyzing monopolies using diagrams and explaining causes. It then provides definitions of key monopoly terms and concepts. The document presents information on price and output under monopoly compared to competition. It discusses the case against monopoly in terms of allocative and dynamic efficiency losses. It provides a case study on airline monopolies and outlines research tasks on reports related to monopolies in specific industries. It also discusses potential cases for monopoly in terms of dynamic efficiency, productive efficiency, and natural monopoly, as well as threats of regulation and new entry.
1) The document discusses the characteristics and efficiency arguments for and against monopoly.
2) It analyzes the case against monopoly in terms of allocative and productive inefficiency, and loss of economic welfare.
3) The case for monopoly is discussed in terms of dynamic efficiency, productive efficiency from economies of scale, and how some industries are natural monopolies where competition would increase costs.
Continental Airlines has been in operation since 1934. It currently serves over 133 domestic and 132 international destinations with over 40,000 employees. The company aimed to make its operations more efficient through its "Go Forward" plan which focused on improving market share, financial performance, reliability, and employee relations. While Continental struggled with losses after events like 9/11, it returned to profitability in 2006. However, it faced strong competition from larger airlines and had a relatively low market share. Various analyses found that Continental was in a position that required intensive strategies to improve its competitive positioning and market share.
Airline Start up is hard issue for investors, today airline try to survive in this high competitive industry, this presenting address new tools that guide and put airline in the right way
DCF valuation of Ryanair as of May 2018. The project was part of the final assignment of the Corporate Financial Modelling course at Brandeis University.
Allocate the right aircraft capacity, it is new approach , addressing, Rask and cask or catk, by using the concept of U curve technique, for two costs , i.e cost of offering seat and cost losing the opportunity, resulting in right capacity and optimum frequency
What make airlines gain profits while the others fall in losses !!!
How LCC creates profits in a recession time ….
Is Airline Industry a profitable Industry !!!
What are various strategies in such cases…
And how to survive in this miss !!!!!!!
Af kl-adapting to survive cannesairlinesforum-2005-engWJ
Legacy carriers like Air France have implemented several solutions to adapt to rising fuel costs and other challenges. These include organizing flights around major hubs to increase efficiency through higher aircraft utilization and traffic density. Air France in particular has pursued a strategy of profitable growth, expanding its network while controlling costs through measures such as fleet simplification, productivity gains, and alliance partnerships. However, rising expenses from fuel, taxes, and airport fees have also increased pressures on carriers.
Today, most of the organizations quite advanced in involving multiple applications of strategic management.
In this paper I have tried to describe an effective and working Ryanair’s competitive strategy, approach and factors have accounted for Ryanair’s success. I also analyzed what are Ryanair’s distinctive capabilities and how they are implementing various strategies to attract and retain customers.
The Microsoft 365 Migration Tutorial For Beginner.pptxoperationspcvita
This presentation will help you understand the power of Microsoft 365. However, we have mentioned every productivity app included in Office 365. Additionally, we have suggested the migration situation related to Office 365 and how we can help you.
You can also read: https://www.systoolsgroup.com/updates/office-365-tenant-to-tenant-migration-step-by-step-complete-guide/
Driving Business Innovation: Latest Generative AI Advancements & Success StorySafe Software
Are you ready to revolutionize how you handle data? Join us for a webinar where we’ll bring you up to speed with the latest advancements in Generative AI technology and discover how leveraging FME with tools from giants like Google Gemini, Amazon, and Microsoft OpenAI can supercharge your workflow efficiency.
During the hour, we’ll take you through:
Guest Speaker Segment with Hannah Barrington: Dive into the world of dynamic real estate marketing with Hannah, the Marketing Manager at Workspace Group. Hear firsthand how their team generates engaging descriptions for thousands of office units by integrating diverse data sources—from PDF floorplans to web pages—using FME transformers, like OpenAIVisionConnector and AnthropicVisionConnector. This use case will show you how GenAI can streamline content creation for marketing across the board.
Ollama Use Case: Learn how Scenario Specialist Dmitri Bagh has utilized Ollama within FME to input data, create custom models, and enhance security protocols. This segment will include demos to illustrate the full capabilities of FME in AI-driven processes.
Custom AI Models: Discover how to leverage FME to build personalized AI models using your data. Whether it’s populating a model with local data for added security or integrating public AI tools, find out how FME facilitates a versatile and secure approach to AI.
We’ll wrap up with a live Q&A session where you can engage with our experts on your specific use cases, and learn more about optimizing your data workflows with AI.
This webinar is ideal for professionals seeking to harness the power of AI within their data management systems while ensuring high levels of customization and security. Whether you're a novice or an expert, gain actionable insights and strategies to elevate your data processes. Join us to see how FME and AI can revolutionize how you work with data!
Dandelion Hashtable: beyond billion requests per second on a commodity serverAntonios Katsarakis
This slide deck presents DLHT, a concurrent in-memory hashtable. Despite efforts to optimize hashtables, that go as far as sacrificing core functionality, state-of-the-art designs still incur multiple memory accesses per request and block request processing in three cases. First, most hashtables block while waiting for data to be retrieved from memory. Second, open-addressing designs, which represent the current state-of-the-art, either cannot free index slots on deletes or must block all requests to do so. Third, index resizes block every request until all objects are copied to the new index. Defying folklore wisdom, DLHT forgoes open-addressing and adopts a fully-featured and memory-aware closed-addressing design based on bounded cache-line-chaining. This design offers lock-free index operations and deletes that free slots instantly, (2) completes most requests with a single memory access, (3) utilizes software prefetching to hide memory latencies, and (4) employs a novel non-blocking and parallel resizing. In a commodity server and a memory-resident workload, DLHT surpasses 1.6B requests per second and provides 3.5x (12x) the throughput of the state-of-the-art closed-addressing (open-addressing) resizable hashtable on Gets (Deletes).
For the full video of this presentation, please visit: https://www.edge-ai-vision.com/2024/06/how-axelera-ai-uses-digital-compute-in-memory-to-deliver-fast-and-energy-efficient-computer-vision-a-presentation-from-axelera-ai/
Bram Verhoef, Head of Machine Learning at Axelera AI, presents the “How Axelera AI Uses Digital Compute-in-memory to Deliver Fast and Energy-efficient Computer Vision” tutorial at the May 2024 Embedded Vision Summit.
As artificial intelligence inference transitions from cloud environments to edge locations, computer vision applications achieve heightened responsiveness, reliability and privacy. This migration, however, introduces the challenge of operating within the stringent confines of resource constraints typical at the edge, including small form factors, low energy budgets and diminished memory and computational capacities. Axelera AI addresses these challenges through an innovative approach of performing digital computations within memory itself. This technique facilitates the realization of high-performance, energy-efficient and cost-effective computer vision capabilities at the thin and thick edge, extending the frontier of what is achievable with current technologies.
In this presentation, Verhoef unveils his company’s pioneering chip technology and demonstrates its capacity to deliver exceptional frames-per-second performance across a range of standard computer vision networks typical of applications in security, surveillance and the industrial sector. This shows that advanced computer vision can be accessible and efficient, even at the very edge of our technological ecosystem.
Your One-Stop Shop for Python Success: Top 10 US Python Development Providersakankshawande
Simplify your search for a reliable Python development partner! This list presents the top 10 trusted US providers offering comprehensive Python development services, ensuring your project's success from conception to completion.
FREE A4 Cyber Security Awareness Posters-Social Engineering part 3Data Hops
Free A4 downloadable and printable Cyber Security, Social Engineering Safety and security Training Posters . Promote security awareness in the home or workplace. Lock them Out From training providers datahops.com
Digital Marketing Trends in 2024 | Guide for Staying AheadWask
https://www.wask.co/ebooks/digital-marketing-trends-in-2024
Feeling lost in the digital marketing whirlwind of 2024? Technology is changing, consumer habits are evolving, and staying ahead of the curve feels like a never-ending pursuit. This e-book is your compass. Dive into actionable insights to handle the complexities of modern marketing. From hyper-personalization to the power of user-generated content, learn how to build long-term relationships with your audience and unlock the secrets to success in the ever-shifting digital landscape.
How information systems are built or acquired puts information, which is what they should be about, in a secondary place. Our language adapted accordingly, and we no longer talk about information systems but applications. Applications evolved in a way to break data into diverse fragments, tightly coupled with applications and expensive to integrate. The result is technical debt, which is re-paid by taking even bigger "loans", resulting in an ever-increasing technical debt. Software engineering and procurement practices work in sync with market forces to maintain this trend. This talk demonstrates how natural this situation is. The question is: can something be done to reverse the trend?
[OReilly Superstream] Occupy the Space: A grassroots guide to engineering (an...Jason Yip
The typical problem in product engineering is not bad strategy, so much as “no strategy”. This leads to confusion, lack of motivation, and incoherent action. The next time you look for a strategy and find an empty space, instead of waiting for it to be filled, I will show you how to fill it in yourself. If you’re wrong, it forces a correction. If you’re right, it helps create focus. I’ll share how I’ve approached this in the past, both what works and lessons for what didn’t work so well.
Skybuffer SAM4U tool for SAP license adoptionTatiana Kojar
Manage and optimize your license adoption and consumption with SAM4U, an SAP free customer software asset management tool.
SAM4U, an SAP complimentary software asset management tool for customers, delivers a detailed and well-structured overview of license inventory and usage with a user-friendly interface. We offer a hosted, cost-effective, and performance-optimized SAM4U setup in the Skybuffer Cloud environment. You retain ownership of the system and data, while we manage the ABAP 7.58 infrastructure, ensuring fixed Total Cost of Ownership (TCO) and exceptional services through the SAP Fiori interface.
Have you ever been confused by the myriad of choices offered by AWS for hosting a website or an API?
Lambda, Elastic Beanstalk, Lightsail, Amplify, S3 (and more!) can each host websites + APIs. But which one should we choose?
Which one is cheapest? Which one is fastest? Which one will scale to meet our needs?
Join me in this session as we dive into each AWS hosting service to determine which one is best for your scenario and explain why!
Connector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectorsDianaGray10
Join us to learn how UiPath Apps can directly and easily interact with prebuilt connectors via Integration Service--including Salesforce, ServiceNow, Open GenAI, and more.
The best part is you can achieve this without building a custom workflow! Say goodbye to the hassle of using separate automations to call APIs. By seamlessly integrating within App Studio, you can now easily streamline your workflow, while gaining direct access to our Connector Catalog of popular applications.
We’ll discuss and demo the benefits of UiPath Apps and connectors including:
Creating a compelling user experience for any software, without the limitations of APIs.
Accelerating the app creation process, saving time and effort
Enjoying high-performance CRUD (create, read, update, delete) operations, for
seamless data management.
Speakers:
Russell Alfeche, Technology Leader, RPA at qBotic and UiPath MVP
Charlie Greenberg, host
Best 20 SEO Techniques To Improve Website Visibility In SERPPixlogix Infotech
Boost your website's visibility with proven SEO techniques! Our latest blog dives into essential strategies to enhance your online presence, increase traffic, and rank higher on search engines. From keyword optimization to quality content creation, learn how to make your site stand out in the crowded digital landscape. Discover actionable tips and expert insights to elevate your SEO game.
How to Interpret Trends in the Kalyan Rajdhani Mix Chart.pdfChart Kalyan
A Mix Chart displays historical data of numbers in a graphical or tabular form. The Kalyan Rajdhani Mix Chart specifically shows the results of a sequence of numbers over different periods.
HCL Notes und Domino Lizenzkostenreduzierung in der Welt von DLAUpanagenda
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-und-domino-lizenzkostenreduzierung-in-der-welt-von-dlau/
DLAU und die Lizenzen nach dem CCB- und CCX-Modell sind für viele in der HCL-Community seit letztem Jahr ein heißes Thema. Als Notes- oder Domino-Kunde haben Sie vielleicht mit unerwartet hohen Benutzerzahlen und Lizenzgebühren zu kämpfen. Sie fragen sich vielleicht, wie diese neue Art der Lizenzierung funktioniert und welchen Nutzen sie Ihnen bringt. Vor allem wollen Sie sicherlich Ihr Budget einhalten und Kosten sparen, wo immer möglich. Das verstehen wir und wir möchten Ihnen dabei helfen!
Wir erklären Ihnen, wie Sie häufige Konfigurationsprobleme lösen können, die dazu führen können, dass mehr Benutzer gezählt werden als nötig, und wie Sie überflüssige oder ungenutzte Konten identifizieren und entfernen können, um Geld zu sparen. Es gibt auch einige Ansätze, die zu unnötigen Ausgaben führen können, z. B. wenn ein Personendokument anstelle eines Mail-Ins für geteilte Mailboxen verwendet wird. Wir zeigen Ihnen solche Fälle und deren Lösungen. Und natürlich erklären wir Ihnen das neue Lizenzmodell.
Nehmen Sie an diesem Webinar teil, bei dem HCL-Ambassador Marc Thomas und Gastredner Franz Walder Ihnen diese neue Welt näherbringen. Es vermittelt Ihnen die Tools und das Know-how, um den Überblick zu bewahren. Sie werden in der Lage sein, Ihre Kosten durch eine optimierte Domino-Konfiguration zu reduzieren und auch in Zukunft gering zu halten.
Diese Themen werden behandelt
- Reduzierung der Lizenzkosten durch Auffinden und Beheben von Fehlkonfigurationen und überflüssigen Konten
- Wie funktionieren CCB- und CCX-Lizenzen wirklich?
- Verstehen des DLAU-Tools und wie man es am besten nutzt
- Tipps für häufige Problembereiche, wie z. B. Team-Postfächer, Funktions-/Testbenutzer usw.
- Praxisbeispiele und Best Practices zum sofortigen Umsetzen
Programming Foundation Models with DSPy - Meetup SlidesZilliz
Prompting language models is hard, while programming language models is easy. In this talk, I will discuss the state-of-the-art framework DSPy for programming foundation models with its powerful optimizers and runtime constraint system.
Programming Foundation Models with DSPy - Meetup Slides
January 2006 mark scheme
1. GCE
Edexcel GCE
Economics (6354/01)
January 2006
Mark Scheme (Results)
Economics (6354/01)
Edexcel GCE
2. 6354: Industrial Economics
Mark scheme
Section A
Key to answers
1 2 3 4 5 6 7 8 9 10
C A E E E A C B B A
Award up to 2 marks for elimination of incorrect keys.
Q1 Answer C
Definition of horizontal merger (allow merger at same stage of production or
increase in market share)(1)
Correct definition of scale economies (must include average costs)(1)
Application of scale economy to supermarkets (1)
Impact of cost cutting on the level of profit, or other illustration of the
motive (1)
Q2 Answer A
Definition of oligopoly (e.g. a few large firms in the industry).(1)
Correct definition of concentration ratio (e.g. a reference to market
domination) (1)
Calculation of a 3 (53%) or 4 (64%) or 5 (75%) firm concentration ratio for the
digital camera market (1) or other use of relevant data (1).
Q3 Answer E
Numerical calculation or diagram of marginal cost from data (1) and AR (1)
Connection between gradient of AR and imperfect competition (1)
Correct definition of marginal cost (1)
No marks for MR calculation or abstract market structure diagram.
Q4 Answer E
Explanation that in the short run only variable costs have to be covered, i.e.
short run equilibrium (2)
Application of variable costs to rail travel (1)
This is not a long run position, or other evaluative point (1)
Correct definition of price discrimination (1) and explanation up to (2) marks.
Q5 Answer E
Correct definition of AVC (must have sense of per unit) – or formula (1)
Correct calculation shown (£5000÷5000 = £1) or other use of data (2)
Also award annotation of diagram (1)
Distinguishing between TFC and TVC (or AFC and AVC) (1).
Q6 Answer A
3. Correct explanation of limit pricing: allow one mark for illustration that the
firm sets price just below the predicted average costs of production of a new
entrant (1); 1 mark for prohibiting entry (1); 1 mark for disincentive (1).
Also accept valid diagram showing limit pricing, if cost differences are
illustrated. (1)
Outline of effect of a patent right expiring i.e. opening up of competition. (1)
Application to pharmaceuticals industry (1)
4. Q7 Answer C
Definition of sunk costs (unrecoverable costs) (1)
An example of a sunk cost e.g. advertising, specialised machinery (1)
Award explanation that there is a reduction in contestability (1)
Application to the computer games market e.g. the need for computer games
to play on the handheld computers (1)
Q8 Answer B
Definition of oligopoly or non-price competition (1)
Explanation of a price fall when demand is price-inelastic will lead to a fall in
total revenue (2)
Example of non-price competition applied to soap powder (1)
Q9 Answer B
Explanation of revenue maximisation (MR=0) (1)
Explanation of super-normal profits as 0KLZ – 0NMZ or as profit per unit LM
multiplied by total output MN (2)
Also award for shading in of super-normal profits on diagram (1)
Diagram showing TR in line with MR=0 (2)
Q10 Answer A
Aims of Competition Commission – increasing competition, and allow public
interest arguments (1). The merger threatened to reduce competition (1) in
an already highly concentrated market (1)
Reference to one advantage or disadvantage to consumers e.g. consumer
choice, higher price, service quality etc in context of the music industry (1)
5. Question 11 The Low Cost European Airline Market
(a) Explain why a low cost airline company such as Easy Jet ‘typically
generates all its profits’ in the second half of the year (line 6).
(4)
• The demand for air travel is seasonal with the greatest number
of customers in the summer months. Higher demand means
higher revenues as firms can raise prices and achieve higher
profits. Also accept the reverse argument for off peak periods.
• Airlines may have high fixed costs which have to be met all year
round whether revenue is high or low.
• Fuel costs fall in the summer months, hence profits can increase
as costs fall.
(2 x 2 marks or up to 1 x 4)
(b) With the aid of an appropriate cost and revenue diagram, analyse
the reasons that might explain Alitalia’s ‘large financial losses’ (line
8).
(8)
• Diagram of average cost and average revenue, depicting a loss
making position for a firm. Also accept diagram of total costs &
total revenue, depicting a loss making situation. (4)
• Analysis of a falling average revenue curve for Alitalia due to
increased competition (2)
• Analysis of rising average cost curve, leading to a financial loss
which might include rising fuel costs shown in figure 2 (2).
(c) Examine the extent to which the low cost airline market has
achieved economic efficiency.
(8)
• Understanding of productive efficiency (2) and allocative
efficiency (2) or other.
• Productive efficiency has not been reached since spare capacity
exists in the industry (line 16) (1).
• Allocative efficiency may have been achieved since there is
much consumer choice & low prices (1).
Award a maximum of 5 marks in this section.
Evaluation – up to 3 marks for any one point, or award two
points
• Falling airline prices act as an incentive for firms to cut
production costs and so the market is heading towards
productive efficiency.
6. • Closure of some firms suggests an inability to meet customer
requirements so allocative efficiency not achieved.
• The entry of new firms suggests scope still exists to achieve
allocative efficiency.
7. (d) Examine the ability of Easy Jet and Ryanair to survive the pressures
of ‘lower air fares and increased competition’ (line 17).
(10)
The extract mentions three factors, namely: economies of scale, strong
branding and established networks. Explanation of each strategy
(1+1+1) and application to airline industry (1+1+1). Allow other
factors, such as price discrimination.
Evaluation – up to 4 marks (2 x 2 points or 4 x 1 point)
• Danger of diseconomies of scale.
• Price may be more important than branding for many travellers.
• An established network implies high start-up costs and high fixed
costs.
• Also accept reference to Figure 1 which shows a strong increase
in passenger numbers for the two airlines.
• Prioritise the factors with justification.
(e) Assess the extent to which the European airline industry is
contestable.
(10)
Award (3 x 2 marks) or (2 x 3 marks) for factors explaining either:
Contestable Market
• The extract refers to firms exiting the industry (lines 8-11),
suggesting market contestability.
• Firms are poised to enter the market (line 11) suggesting a
threat of potential competition for incumbents and hence
market contestability.
• Falling profit levels and even losses for existing airlines.
• Expansion of EU (lines 12-13) has increased opportunities for air
firms.
• Possibility of leasing planes to reduce start-up costs.
• Use of internet bookings to reduce fixed costs.
• Strong second hand market in airplanes.
Non-Contestable Market
• Economies of scale for market leaders Easy Jet & Ryanair. They
are likely to win any price war.
• Strong branding, implying high marketing costs (sunk costs).
• Established network e.g. air routes, flight slots, staffing, planes.
Evaluation – up to 4 marks (2 + 2 points)
• Critical distance
• Prioritise the factors with justification.
8. • Questioning the validity of factors explained
• Short-run suggests market contestability but if consolidation
continues then in the long-run the market may become less
contestable.
• Inadequacy of information provided?
9. Question 12 The Regulation of Royal Mail
(a) (i) Using a diagram, explain the concept of monopoly. (4)
• Definition of monopoly (some sense of market dominance and one
other comment) (2). If just definition of monopoly in terms of 25%
or more market share (1). Allow natural monopoly with appropriate
analysis.
• Diagram (one mark reserved for MC=MR) (2)
(a) (ii) To what extent is the Royal Mail letter delivery service a monopoly?
(6)
• Royal Mail appears to have a monopoly due to powerful entry
barriers - particularly economies of scale (2).
• Despite one year of exposure to competition the Royal Mail retains
almost 100% market share (1) (lines 15 &16)
• Accept an alternative argument that Royal Mail no longer has a pure
monopoly in urban areas due to opening up of competition.
Award a maximum of 3 marks in this section
Evaluation – up to 3 marks for any one point.
• However, Royal Mail’s monopoly position is under threat since it is
being forced by Postcomm to allow incoming firms access to its
distribution network
• Also award for alternative forms of evaluation e.g. prioritising the
most important entry barrier or the threat posed by new
technology.
• Brand recognition and customer inertia are not completely
insurmountable barriers to entry.
• Is it a natural monopoly – i.e. competition would involve duplication
of network/delivery?
(b) (i) Royal Mail charges different prices to bulk mailers and small users of
the letter delivery service. Analyse two possible objectives of this
policy.
(6)
3 marks per valid objective.
• Profit maximisation - costs may be lower for bulk users.
• Retain major customers and hence market share (may include
elasticities).
• Increase profits in the short or long run (price discrimination model
may be used).
• Compete effectively against incoming firms (limit pricing or other
valid model may be used).
10. (b) (ii) Outline the conditions necessary for Royal Mail to undertake
successful price discrimination.
(6)
3 factors with relevant 2 marks each, or 2 factors developed to 3
marks each
• Different price elasticities of demand in sub-markets
• Some degree of monopoly power
• Ability to prevent arbitrage between markets
11. (c) Examine the likely impact of ‘price-capping’ (line 4) and
‘performance targets’ (line 11) on the efficiency of the UK’s postal
services.
(10)
Price capping (3 marks): Regulator has set a reduction in real price of
Royal Mail services between 2001-2006 (1).
• Royal Mail may seek to increase productive efficiency in order to
achieve profits. Responses could refer to production costs,
investment and employment levels.
• Royal mail may become less allocative efficient due to emphasis on
cutting unit costs to maintain profits. (Note recent scrapping of
Royal Mail post trains and second day deliveries).
• Price control acts as a surrogate for competition
Up to 2 marks for development
Performance targets (3 marks): Regulator attempting to improve
standards of customer service; next day delivery target for 1st class
mail of 92.5%, or other performance targets e.g. reduction in
percentage of missing mail (1).
• To achieve performance targets, Royal Mail may need to increase
investment and / or change working practices.
• Royal Mail need to sacrifice profits and productive efficiency in
order to achieve allocative efficiency i.e. improving customer
service will require extra spending.
Up to 2 marks for development.
Evaluation up to 4 marks. Factors might include:
• Discussion of most effective regulatory measure, e.g. contrast with
deregulation or increased competition
• Regulatory capture
• Asymmetric information arguments
• Information transaction costs (overload of information is a cost
when making decisions)
• Regulatory failure (e.g. inappropriate price caps) might make the
services less efficient or have inappropriate impact on investment
levels, or if the company is fined this might have an adverse effect
on performance
• Natural monopoly argument used as critical distance
12. (d) Assess the extent to which Postcomm’s decision to open up the
letter delivery market to competition is in the interests of
consumers.
(8)
Competition may bring the standard benefits to consumers e.g. greater
choice, lower prices, increased consumer surplus, improved quality
(2+2).
Evaluation up to 4 marks. Evaluation might include:
• Prioritising the most important benefit to consumers
• The extent of the competition e.g. the extract reveals the whole
market will be opened up by 2007 and powerful firms waiting to
enter
• Choice may lead to confusion for consumers over prices and postal
services on offer
• Royal Mail may be unable to cross-subsidise its rural delivery
services; either price is increased or a reduction in services are
undertaken. This brings into question the universal delivery service
and uniform price
• Will bulk users benefit more than small users of letter delivery
services?
• Changing forms of communication will change the nature of the
market in the long run