Task 1
a) Explain how a market system result in an efficient allocation of resources.
b) Explain why markets fail and identify the ways in which social and industrial policy can be used by governments to overcome the problems of market failure.
Task 2
a) Examine the extent to which the retail grocery market in the UK can be regarded as either perfect competition, imperfect competition, oligopoly or monopoly and comment on the reason why a1) the office of fair trading and the competition commission were concerned about the take over bids for Safeway submitted by rival supermarket chains (Morrisons, Tesco, Sainsbury, Asda)
[ need to explain every single market structure ; have a look at the retail grocery market; a1) research -> the guardian website]
b) Identify and evaluate the methods used by grocery retailers, large and small, to compete with one another.
Task 3
a) the UK has during the last 5 years (despite fears of a slow in the world economy) enjoyed a healthy economy, experiencing economic growth and low levels of unemployment simultaneously with very low rates of inflation. To what extent has the Government’s use of Fiscal and Monetary policies contributed to the achievement of these macroeconomic objectives?
b) Comment on the impact the economic situation in the UK during the last 5 years has had on UK grocery retailers.
[ look at market link, economic data for info]
Task 4
a) to what extent has the creation of the EU single market and the single European currency had an impact on organisations in the UK retail grocery industry
b) to what extent would the UK joining the single European currency benefit or disadvantage:
i. the UK economy as a whole
ii. organisations in the UK retail grocery market
Task 5
a) choose an organisation in the UK retail grocery industry eg Tesco and
i. state its mission statement and key objectives
ii. to what extent are the objectives of the organisation likely to conflict with the objectives of its shareholders, employees and customers
iii. how does the organisation attempt to meet its responsibilities to customers
Credit:ivythesis.typepad.com
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