Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 81122 Jason Welker
Mr. Clifford's 60 second explanation of regulating monopolies. The government can regulate at socially optimal quantity (D = MC) to get them to produce the allocatively efficient output or they can get them to produce at fair return (D=ATC) where they make no economic profit. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class. ACDC is Mr. Clifford's teaching philosophy: Active Learning Cooperative Learning Discovery Learning Community
Views: 189945 Jacob Clifford
Y2 18) Natural Monopoly. Everything you need to know about Natural Monopoly in full detail For Products, Services and Bookings visit https://econplusdal.com Instagram: https://www.instagram.com/econplusdal Twitter: https://twitter.com/econplusdal Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel End Music: Relax by Peyruis https://soundcloud.com/peyruis Creative Commons — Attribution 3.0 Unported — CC BY 3.0 http://creativecommons.org/licenses/by/3.0/ Music promoted by Audio Library https://youtu.be/NvCDF7iUgIA
Views: 12067 EconplusDal
This short revision video looks at the concept of a natural monopoly and explains how to build good chains of reasoning to score higher analysis marks in an A level microeconomics paper. A natural monopoly does not mean that there is only one business operating in the market. But with a natural monopoly the economies of scale available to the largest firms mean that there is a tendency for one business to dominate the market in the long run.
Views: 1790 tutor2u
Prof. Lynne Kiesling discusses the history of regulating electricity monopolies in America. Conventionally, most people view regulation of monopoly, such as the Sherman Antitrust Act, as one of government's core responsibilities. Kiesling challenges this notion, and finds that government regulation of monopoly actually stifles innovation and hurts consumers. The American electricity industry was booming in the 1890s, with several small firms competing against one another. Over time, Kiesling argues that the fixed costs began to escalate, increasing the cost of entry into the industry. Put another way, large competitors gained a significant competitive edge over smaller competitors through economies of scale. Eventually, in places like New York and Chicago, Kiesling claims that the competitive process led to one large firm. These monopolies were feared by the public, and led to demands for government regulation. The electricity industry, knowing that regulation was coming, used these demands for regulation as cover to construct legal barriers to entry. Ultimately, the regulations passed by the government reduced competition by granting legal monopoly privileges to powerful firms within a certain geographical territory. In modern times, we are seeing the real cost of these old one-size-fits-all regulations: 1) People aren't adjusting their energy consumption behaviors. For instance, in peak hours, technological solutions that could smooth electricity consumption are being ignored. 2) The electricity industry doesn't evolve and account for new types of renewable energy. 3) Innovations have been discouraged. If these archaic regulations were removed, innovations and improvements beneficial to consumers would flourish. For more information, check us out here: http://lrnlbty.co/zcPIQr Watch more videos: http://lrnlbty.co/y5tTcY
Views: 53088 Learn Liberty
This somewhat technical video gives some background for understanding debates over cable TV and other media issues. Economics of the Media course: http://mruniversity.com/courses/economics-media Ask a question about the video: http://mruniversity.com/courses/economics-media/weak-and-strong-natural-monopoly#QandA Next video: http://mruniversity.com/courses/economics-media/cable-tv-regulation
Views: 857 Marginal Revolution University
What is a monopoly? It turns out, it's more than just a board game. It's a terrible, terrible economic practice in which giant corporations dominate markets and hurt consumers. Except when it isn't. In some industries, monopolies are the most efficient way to do business. Utilities like electricity, water, and broadband internet access are probably less efficiently delivered in competitive markets. Come along, and let us monopolize your attention for a few minutes. You might learn something. And you might land on Free Parking. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 517963 CrashCourse
Competition Policy - Monopoly Regulation. Crucial video covering monopoly regulation through competition policy. Privatisation: https://www.youtube.com/watch?v=9jvz6sSWzQA Deregulation: https://www.youtube.com/watch?v=3jeKA4V30kk&t=6s Trade Liberalisation: https://www.youtube.com/watch?v=aPJTi3gGOHs&t=13s Twitter: https://twitter.com/econplusdal Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
Views: 47877 EconplusDal
Subject:Business Economics Paper: Economics of services Module :Role of Infrastructure in Economic Development, Natural Monopoly and Economics of Infrestructure Regulation
Views: 3500 Vidya-mitra
I explain how to draw and anaylze a monopoly graph. Make sure to answer the questions and check out the bonus dance at the end. No! We can't play the board game.Thanks for watching. Please subscribe. Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 757023 Jacob Clifford
This lesson covers monopoly and government regulation. An unregulated monopoly will produce a small quantity but charge a high price for their products. The government could mandate that the firm produce at the socially optimal level, but it could create major losses for the firm. The government and the firm can come to an agreement called a fair return, which benefits both the firm and society.
Views: 8109 Chris Thomas
Understanding the rationale, intentions and downside risks of using deregulation to help make monopoly and natural monopoly markets more efficient.
Views: 3846 EconplusDal
introduce to Economics Lecture 10 Regulation of Natural Monopolies
Views: 206 be ngo
Tyson Slocum, Public Citizen's Energy Program joins Thom. Just over a year agp - Chicago-based utility giant Exelon announced that it was buying up PEPCO - the power company that services Maryland and most of the Washington, DC metro area. If completed - the deal would create the single largest utility company in the country - and - according to Exelon. For more information on the stories we've covered visit our websites at thomhartmann.com - freespeech.org - and RT.com. You can also watch tonight's show on Hulu - at Hulu.com/THE BIG PICTURE and over at The Big Picture YouTube page. And - be sure to check us out on Facebook and Twitter!
Views: 1005 The Big Picture RT
http://www.mindbites.com/lesson/7749 for full video. For a full video Economics course, you'll want to click through to http://www.mindbites.com/series/1078-economics-full-course. Also be sure to check out http://www.mindbites.com/category/46-economics for other video lessons on Economics topics and concepts.
Views: 698 Mindbitesdotcom
I am an undergraduate student at York University. After I review each section of a chapter, I make a video about what I have learnt. I am not attempting to make a professional video, this is just a way that helps me understand material -- by teaching it to others.
Views: 445 hashmat187
This topic video considers outcomes for monopoly in terms of allocative, productive and dynamic efficiency and also looks at some arguments in favour of monopoly power in markets. For more help with your A Level / IB Economics, visit tutor2u Economics http://www.tutor2u.net/economics If you find this topic video helpful, please SUBSCRIBE to our YouTube Channel For more help with Economics: Follow tutor2u Economics on Twitter: https://twitter.com/tutor2uEcon https://twitter.com/tutor2uGeoff - - - - - - - - - MORE ABOUT TUTOR2U ECONOMICS: Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more: https://www.tutor2u.net/economics A Level Economics Revision Flashcards: https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards A Level Economics Example Top Grade Essays: https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics
Views: 14952 tutor2u
Firms that are referred to as natural monopolies enjoy such strong cost advantages to being big and powerful that their marginal cost curve never starts sloping upward. In these cases marginal cost is constant and MC=ATC. However, marginal cost doesn't technically have to be constant. A natural monopoly is very inefficient because they are NOT producing at the socially optimal level.
Views: 5558 Chris Thomas
Competition Policy - A video covering Competition Policy - Aims, Types of Intervention and Regulatory Bodies. Competition Policy is a very important policy to encourage competitive outcomes and reduce monopoly power of firms Twitter: https://twitter.com/econplusdal Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
Views: 33767 EconplusDal
What are the reasons for governments regulating large companies or monopolies? Are they valid reasons or should the market be left to sort out growing inefficiencies and do governments make the situation worse? This is a review and critical analysis of the traditional reasons for regulating monopolies - great for students of economics, business, political philosophy and anyone interested in understanding more about economics.
Views: 223 The Economics Circle
China's economic planner, the National Development and Reform Commission, has briefed the media on its achievements on price regulation and anti-monopoly work.
Views: 66 CGTN
What is REGULATORY ECONOMICS? What does REGULATORY ECONOMICS mean? REGULATORY ECONOMICS definition - REGULATORY ECONOMICS explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ Regulatory economics is the economics of regulation. It is the application of law by government or independent administrative agencies for various purposes, including remedying market failure, protecting the environment, centrally-planning an economy, enriching well-connected firms, or benefiting politicians (see Regulatory capture). It is not considered to include voluntary regulation in the private sphere. Regulation is generally defined as legislation imposed by a government on individuals and private sector firms in order to regulate and modify economic behaviors. Conflict can occur between public services and commercial procedures (e.g. maximizing profit), the interests of the people using these services (see market failure), and also the interests of those not directly involved in transactions (externalities). Most governments, therefore, have some form of control or regulation to manage these possible conflicts. The ideal goal of economic regulation is to ensure the delivery of a safe and appropriate service, while not discouraging the effective functioning and development of businesses. For example, in most countries, regulation controls the sale and consumption of alcohol and prescription drugs, as well as the food business, provision of personal or residential care, public transport, construction, film and TV, etc. Monopolies, especially those that are difficult to abolish (natural monopoly), are often regulated. The financial sector is also highly regulated. Regulation can have several elements: Public statutes, standards, or statements of expectations. A registration or licensing process to approve and permit the operation of a service, usually by a named organization or person. An inspection process or other form of ensuring standard compliance, including reporting and management of non-compliance with these standards: where there is continued non-compliance, then A de-licensing process through which an organization or person, if judged to be operating unsafely, is ordered to stop or suffer a penalty. Not all types of regulation are government-mandated, so some professional industries and corporations choose to adopt self-regulating models. There can be internal regulation measures within a company, which work towards the mutual benefit of all members. Often, voluntary self-regulation is imposed in order to maintain professionalism, ethics, and industry standards. For example, when a broker purchases a seat on the New York Stock Exchange, there are explicit rules of conduct, or contractual and agreed-upon conditions, to which the broker must conform. The coercive regulations of the U.S. Securities and Exchange Commission are imposed without regard for any individual's consent or dissent regarding that particular trade. However, in a democracy, there is still collective agreement on the constraint—the body politic as a whole agrees, through its representatives, and imposes the agreement on those participating in the regulated activity. Other examples of voluntary compliance in structured settings include the activities of Major League Baseball, FIFA, and the Royal Yachting Association (the UK's recognized national association for sailing). Regulation in this sense approaches the ideal of an accepted standard of ethics for a given activity to promote the best interests of those participating as well as the continuation of the activity itself within specified limits.....
Views: 972 The Audiopedia
We have seen that a monopoly creates a deadweight loss. How can the authorities try and reduce this loss? This video considers how price regulation may reduce monopoly deadweight loss and how competition laws can help stop monopolies from being created.
Views: 4177 stephen king
Mr. Clifford's 60 second explanation of how to identify the consumer and producer surplus on the monopoly graph. Notice that monopolies charge a higher price and produce a lower output than perfectly competitive markets. Since monopolies are inefficient they also have dead weight loss. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class. ACDC is Mr. Clifford's teaching philosophy: Active Learning Cooperative Learning Discovery Learning Community
Views: 263880 Jacob Clifford