Successful examples of government intervention? [Edexcel Economics B] Watch

Olmeister
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What are some successful examples of government intervention recently? I'd be delighted if someone could give me some ideas...

Thanks,
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username2052983
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(Original post by Olmeister)
What are some successful examples of government intervention recently? I'd be delighted if someone could give me some ideas...

Thanks,
https://www.tutor2u.net/economics/re...ion-in-markets

Im not sure if this helps but you could check it out
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Olmeister
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(Original post by BintM)
https://www.tutor2u.net/economics/re...ion-in-markets

Im not sure if this helps but you could check it out
Yes, I've come across this... Was looking for any particular case studies where government intervention has helped though
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username2052983
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(Original post by Olmeister)
Yes, I've come across this... Was looking for any particular case studies where government intervention has helped though
Have you got paper 3 on Monday?
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Olmeister
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Yes... Not really sure how to revise it... Trying to cover all bases regarding market failure and government intervention. Do you have it?

Do you think the questions will be solely on these topics, or will they bring other topics in to confuse us too?
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harryleavey
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(Original post by Olmeister)
Yes... Not really sure how to revise it... Trying to cover all bases regarding market failure and government intervention. Do you have it?

Do you think the questions will be solely on these topics, or will they bring other topics in to confuse us too?
What makes you think the questions will only be on those 2 topics?
They can question anything in the specification. Not sure why this would be to 'confuse you'.
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physicsamor
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Anything can be justified as successful, for example when the goverment privatised the energy market it was successful in the beginning at providing lower prices but in the long run it just has lead to higher prices

Another successful intervention was eu price caps, there was dispute that mobile phone companies were charging extortionate prices to customers on holiday in the EU now the rate is the same as it is in the UK

It's really how you justify it more or less there's loads of examples out there
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username2052983
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(Original post by Olmeister)
Yes... Not really sure how to revise it... Trying to cover all bases regarding market failure and government intervention. Do you have it?

Do you think the questions will be solely on these topics, or will they bring other topics in to confuse us too?
Im focusing on financial markets and things like Brexit, also going over the topics i find more difficult. Not going through the whole thing as well there isn't much time.
Do I have what?
Watch econplusdals videos, nothing beats them.
I have a feeling it may be financial markets, I'd revise everything though, can never be sure. What exam board do you do?
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Olmeister
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(Original post by harryleavey)
What makes you think the questions will only be on those 2 topics?
They can question anything in the specification. Not sure why this would be to 'confuse you'.
Because, the context of the exam on the pre-release is market failure and government intervention... Don't see how they'd be able to bring in other topics that have no link.. They obviously will to some extent though...
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harryleavey
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(Original post by Olmeister)
Because, the context of the exam on the pre-release is market failure and government intervention... Don't see how they'd be able to bring in other topics that have no link.. They obviously will to some extent though...
Clearly there has been a misunderstanding on my behalf. Sorry about that.

I am with Edexcel - So I assume you are not. We don't get a pre-release.

What exam board are you?
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Olmeister
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(Original post by harryleavey)
Clearly there has been a misunderstanding on my behalf. Sorry about that.

I am with Edexcel - So I assume you are not. We don't get a pre-release.

What exam board are you?
I am with Edexcel too, doing Economics B? There is a pre-release for this... For Economics A I am not too sure if there is which could explain it..
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harryleavey
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(Original post by Olmeister)
I am with Edexcel too, doing Economics B? There is a pre-release for this... For Economics A I am not too sure if there is which could explain it..
Ahh okay. Yeah Im Economics A.
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niteninja1
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(Original post by Olmeister)
Yes... Not really sure how to revise it... Trying to cover all bases regarding market failure and government intervention. Do you have it?

Do you think the questions will be solely on these topics, or will they bring other topics in to confuse us too?
State intervention never works
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harryleavey
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(Original post by niteninja1)
State intervention never works
I don't believe you Mr Hayek
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niteninja1
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(Original post by harryleavey)
I don't believe you Mr Hayek
It doesn't look at the banks we bailed them out and their still not making a profit
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harryleavey
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(Original post by niteninja1)
It doesn't look at the banks we bailed them out and their still not making a profit
Why did the banks need bailing out?

Spoiler:
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Market failure


The consequences would have been far greater, had the banks not been rescued.
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niteninja1
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(Original post by harryleavey)
Why did the banks need bailing out?

Spoiler:
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Market failure



The consequences would have been far greater, had the banks not been rescued.
No we should have done what Iceland did.
Bail out the people and arrest the bankers.
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pointon.joel
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(Original post by physicsamor)
Anything can be justified as successful, for example when the goverment privatised the energy market it was successful in the beginning at providing lower prices but in the long run it just has lead to higher prices

Another successful intervention was eu price caps, there was dispute that mobile phone companies were charging extortionate prices to customers on holiday in the EU now the rate is the same as it is in the UK

It's really how you justify it more or less there's loads of examples out there
Yeah they're some really good evaluation points, that "successful" is a normative criteria and depends on the government's objectives...
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dan2808
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Another good example of government intervention is when Morrison took over SafeWay.
Due to SafeWays large number of stores across the UK, the Office of Fair Trading, the CMA's predecessor, forced Morrison to sell of over 50 of the SafeWay outlets to ensure a fair share of the market, preventing Morrison from gaining any monopoly power in certain locations

Some basic info on the case: http://news.bbc.co.uk/1/hi/business/3542291.stm

OFT influence on the case: http://news.bbc.co.uk/1/hi/business/3142180.stm

Hope this helps!
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dan2808
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Also i need some help.

The pre-release says something about "market failure and its impact on stakeholders"

is this correct, for example, consumers may pay more for service if they have a lack of info.

Am i along the right lines?
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