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Full revision notes for Edexcel Economics A Paper 2 Macroeconomics
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A/AS Level
PEARSON (PEARSON)
Economics A
Unit 3 - Business behaviour and the labour market
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Companies:
Energy/gas and electricity market: Oligopoly
E.g. British Gas, EON, SSE, EDF
Government intervention:
Creating database for them to switch market
Create smart meters
Price cap on the level of energy bill
Substitutes: Hydropower is the only renewable source of energy that can replace
fossil fuels' electricity production while satisfying growing energy needs
Petroleum AKA crude oil AKA oil
Sainsbury's-Asda merger blocked by regulator
CMA says it would raise prices at the supermarkets' petrol
stations and lead to longer checkout queues
Why they merge?
Planned to bring a £1bn price cut and to compete with discounters like
Aldi and Lidl in the increasingly competitive grocery
Promised to sell between 125 and 150 of their supermarkets to allow
the merger, along with some petrol stations
Reduce quality and quantity = worse shopping experience + higher
prices
, NLW:
Showing over the years, discounters are doing better and increasing market share
Airline industry: oligopoly
Pollution issue:
Maybe external DOS:
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