Theme 1 & 3

• Games theory: nail technicians collaborating to increase prices in response to the rising cost of living
• Minimum wage increase by 9.8% to £11.44 per hour in April 2024
• Unilever (leader in consumer goods like dove) is selling off Ben and Jerrys and making job cuts to reduce costs
• Nissan aims to cut cost of making electric cars by 30% in the face of Chinese competition. Using economies of scale such as battery innovation and bulk buying
• CMA investigation into pet medicine price practices as they may be exploiting consumers
• Tesco takeover of booker allowed by cma as the effect on competition was not too high
• Ryanair and aerlingus merger in 2010 was blocked by the European Commission as it would control of 80% of European Ireland flights
• RPI-X+k used in water industry and allowed £130bn of investment
• Electricity generators gave quality service or there would be a blackout
• Network Rail failed to deliver of the performance targets for the long distance sector in 2013-14
• The red tape challenge was to decrease regulation for small firms
• Enterprise investment scheme gave tax relief to investors buying small companies
• Regulating capture of HMRC by Vodafone negotiated tax reduction from £7bn to £1bn
• Dole is the largest fresh fruit and veg producer in the world with fixed cost or Lorries and variable costs of petrol
• Nando's is a restaurant chain that specialises in chicken
• Jaguar car factory in Bromwich England has 2,200 young workers employed
• The current minimum wage in britain is £11.44 per hour in April 2024
• The living wage is £12 per hours int he uk April 2024
• Virgin media uses risk bearing economies of scales through diversification
• 3 and O2 merger blocked as would take 31% of market share
• David lyod and virgin blocked as annual overturn would be £1011 in 2016
• Ofgem uses RPI-X to regulate the energy firms
• Ofwat uses RPI+K to regulate water firms like Thames Water
• BP regulators fell into regulatory capture and gave free permits for a drill in the golf of Mexico leading to an oil spill
• Scots rail performance targets of having 91.3% of trains arriving on time
• NHS have performance targets of seeing A&E patience's within 4 hours
• Bis set quality standards for toys
• Food standards agency (FSA) sets quality standard for food
• Airline Deregulation Act in USA - 1978, opened more routes
• Deregulation of London taxi so a geography test is not needed allowed 50,000 Uber driving to enter market on Uber app
• Thatcher privatised BT, British Gas and British airways
• British airways privatisation was followed by deregulation allowing easyJet to enter market
• Competitive tendering contract put up for building railways and transporting prisoners
• Pfizer and another were fined £90m for selling epilepsy drugs for high prices (over £60)
• Uk government gave out enterprise capital funds of £400m with low interest rates to small company's with R&D
• N Carolina state gave $235m in energy tax breaks to green tech firms for renewables
• British rail was nationalised and the tick price was p=mc
• CPI Inflation rate are at 3.2% in March 2024
• CPI inflation rates peaked at 11.1% in October 2022 in uk
• Lego invested $150 million into renewable energy and recycles Lego