https://padlet.com/2007holmes/oatam0jntw9h Made with eyes on the prize en-us 2017-12-22 15:36:35 UTC 2017-12-22 15:58:00 UTC hello@padlet.com 2007holmes https://padlet.com/2007holmes/oatam0jntw9h/wish/217868396 News sources are reporting about the industry agreed self-regulation adopted by most supermarkets this week relating to strategies of charging an initial high price, only to discount them quickly.
This gives an impression that the product has greater value after discounting. 
Most of them have agreed to temper this strategy.

Some call it a 'con' - supermarkets only take this method if they have significant power and control, and can afford to lower sales. Shows how market power can impact on price control within oligopolistic markets.]]> 2017-12-22 15:37:24 UTC https://padlet.com/2007holmes/oatam0jntw9h/wish/217868396 2007holmes https://padlet.com/2007holmes/oatam0jntw9h/wish/217868975 Suppliers welcome customers with one year deals and then, if they don't renew or change them, default them onto higher tariffs. Legal? Yes. Moral? No. They try to profit- maximise this way.]]> 2017-12-22 15:42:19 UTC https://padlet.com/2007holmes/oatam0jntw9h/wish/217868975 2007holmes https://padlet.com/2007holmes/oatam0jntw9h/wish/217869392 Uber is a business enjoying rapid growth due to the huge success of its app. It operates in more than 250 cities across 50 countries. Some cities and governments have taken steps to ban them. Ubers app lets a passenger hail a taxi while also letting the driver calculate the fee. Uber uses a surge pricing algorithm determining the fare. This increases the fare during peak periods.  When demand is high and price inelastic.

Arguing that incentives of the price signal encourages more drivers to an area where people are requesting rides, when demand overpowers the supply . ]]> 2017-12-22 15:45:25 UTC https://padlet.com/2007holmes/oatam0jntw9h/wish/217869392 2007holmes https://padlet.com/2007holmes/oatam0jntw9h/wish/217870068 Tickets for top flight football matches in England have risen at exponential rates since 1992. We are told that it is due to advertising saying the PL is the best and most exciting league in the world. The rising prices can be explained by a simple economic theory: In 1990 tickets to see the Champions League were at £4. 20 years later, the price for the same ticket had increased by 975%. To get a season ticket for Liverpool you have to join a queue behind 28,000 others waiting, 20 years ago you could've just asked at the counter.

Demand has been increasing and the price is inelastic. Due to: 1. Lack of subsitutes, 2. Habitual Consumption (a ritual for fans), 3. Emotional Attachment.]]> 2017-12-22 15:50:19 UTC https://padlet.com/2007holmes/oatam0jntw9h/wish/217870068