Category Archives: Competition

Beware of substitutes

If you can charge more for a product and still sell the same amount then you would want to, wouldn’t you? Be careful, it may not be the best thing long term. Take the oil market. Saudi Arabia’s official position … Continue reading

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Tragedy of the commons

The ‘Tragedy of the Commons’ refers to a situation where a shared resource is overused by the people using it, even though they know that if they all overuse it then it will run out. Take an example of overfishing. … Continue reading

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Iranian sanctions extended to Venezuela, but will they work?

The USA has imposed sanctions on Venezuela’s state oil company in retaliation for them trading with Iran (CNN story). These sanctions are unlikely to have any effect: research has shown that generally sanctions don’t work, why is this? If anything … Continue reading

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