Market Power 市场势力

· Pricing power 定价能力

· Entry barriers 进入壁垒

· Monopsony 垄断

· Supply chain control 供应链控制

· Economies of scale 规模经济

 

Economic Efficiency 经济效率

· The fundamental economic problem is a scarcity of resources. 基本的经济问题是资源的稀缺性。

· concerned with the optimal production and distribution or these scarce resources. 经济效率涉及到这些稀缺资源的最佳生产和分配。

There are different types of efficiency 有不同类型的效率

1. Productive efficiency 生产效率

· Occurs when the maximum number of goods and services are produced with a given amount of inputs 当用一定数量的投入生产出最大数量的商品和服务时，就会出现这种效率。

· Occur on the production possibility frontier-on the curve it is impossible to produce more goods without producing less services. 发生在生产可能性边界上--在该曲线上，不可能在不生产较少服务的情况下生产更多的商品。

· Occur at the lowest point on the firms average costs curve 发生在企业平均成本曲线上的最低点。

2. Allocative efficiency 分配效率

· When goods and services are distributed according to consumer preferences. 当商品和服务按照消费者的偏好进行分配时。

· An economy could be productively efficient but produce goods people don’t need this would be allocative inefficient. 一个经济体的生产效率可以很高，但却生产人们不需要的商品，这将是分配效率低下。

· occurs when the price of the good = the MC of production 当商品的价格=生产成本时，就会出现这种情况。

3. X inefficiency X无效率:

· When firms do not have incentives to cut costs, therefore a firms average cost may be higher than necessary. 当企业没有削减成本的动机时，因此企业的平均成本可能高于必要的水平。

4. Efficiency of scale 规模效率

· when the firms produces on the lowest point of its Long run average cost and therefore benefits fully from economies of scale 当企业在其长期平均成本的最低点上进行生产，并因此从规模经济中充分受益。

5. Dynamic efficiency 动态效率

· efficiency over time 随着时间的推移提高效率

· Involves the introduction of new technology and working practises to reduce costs over time. 涉及到引进新的技术和工作实践，随着时间的推移降低成本。

· Static Efficiency - efficiency at a particular point in time. 静态效率--在某一特定时间点的效率。

6. Social efficiency 社会效率

· where the social cost of production (SMC) = the social benefit (SMB) 其中社会生产成本（SMC）=社会效益（SMB）

7. Technical Efficiency 技术效率

· Optimum combination of factor inputs to produce a good: related to productive efficiency. 生产商品的要素投入的最佳组合：与生产效率有关。

8. Pareto Efficiency 帕累托效率

· A situation where resources are distributed in the most efficient way. 资源以最有效的方式分配的情况。

· a situation where it is not possible to make one party better off without making another party worse off. 一种情况，即不可能在不使另一方的状况恶化的情况下使一方的状况得到改善。

9. Distributive Efficiency 分配效率

· Concerned with allocating goods and services according to who needs them most. 关注根据谁最需要商品和服务来分配。

· requires an equitable distribution. 要求公平的分配。

 

Pricing Strategies 定价策略

· Aims: sell excess stock, extra revenue, increase profit, improved cash flow 目的：出售多余的库存，额外的收入，增加利润，改善现金流

· 1st degree: consumer surplus is known so sold at that price e.g. ebay 第一度：消费者盈余是已知的，所以以该价格出售，例如：易贝网。

· 2nd degree: when a firm has surplus capacity so sells at a lower price to attract people who would not usually buy e.g. £1 tickets at football stadium for adults to bring their kids 第二度：当公司有多余的能力，所以以较低的价格出售，以吸引那些通常不会购买的人，例如，在足球场的1英镑门票，让成年人带着他们的孩子。

· 3rd degree: when different groups are charged different prices e.g. peak and off peak 第三度：当不同的群体被收取不同的价格时，例如，高峰和非高峰。

· Loss Leaders: setting a low price on some products to entice customers into shop where hopefully they will also buy other goods as well. However, it is illegal to sell goods below cost, so firms could be investigated by OFT. 亏损领导者：对某些产品设定低价，以吸引顾客进店，希望他们也会购买其他商品。然而，以低于成本的价格销售商品是违法的，所以企业可能会受到公平贸易局的调查。

· Price matching: making a promise to match any price cuts by your competitors, discourages your competitors from cutting price. because they know there is little point in cutting prices, because you will respond straight away,avoid price wars and give the impression of being very competitive. 价格匹配：承诺匹配你的竞争对手的任何降价，阻止你的竞争对手降价，因为他们知道降价的意义不大，因为你会立即作出反应，避免价格战，给人以非常有竞争力的印象。

· Profit Maximisation: where MR=MC,in practise it can be difficult to work this out precisely. 利润最大化：MR=MC，在实践中可能很难精确计算。

· Sales Maximisation. Aiming to maximise sales whilst making normal profit., price equal to average cost. 销售最大化。目的是在赚取正常利润的同时实现销售最大化，价格等同于平均成本。

· Cross Subsidisation. A big multinational may use profits in one area to subsidise a price war in another. 交叉补贴。一个大的跨国公司可能用一个地区的利润来补贴另一个地区的价格战。

· Mark-up pricing. This involves setting a price equal to marginal cost of production + x. (where x = the profit margin a firm wants to make on each sale) 加价定价。这包括设定一个等于生产的边际成本+x的价格（其中x=公司希望在每笔销售中获得的利润率）。

 

Monopsony Power 垄断性权力

 

· when a firm has market power in employing factors of production. 当一个公司在使用生产要素方面拥有市场力量时。

· means there is one buyer and many sellers. 这意味着有一个买家和许多卖家。

Monopsony in Labour Market 劳动力市场上的垄断

· An example of a monopsony occurs when there is one major employer and many workers seeking to gain employment. 当有一个主要雇主和许多寻求就业的工人时，就会出现垄断的例子。

· If there is only one main employer of labour, then they have market power in setting wages and choosing how many workers to employ. 如果只有一个主要的劳动力雇主，那么他们在确定工资和选择雇佣多少工人方面就有市场权力。

· Coal mine owner in town where coal mining is primary source of employment.镇上的煤矿主，煤矿开采是主要的就业来源

· Government in employment of civil servants, nurses, police 政府雇用公务员、护士、警察。

Diagram of Monopsony 垄断的图示

· In a competitive labour market, the equilibrium will be where D=S at Q1, W1. 在一个竞争性的劳动力市场中，平衡点将是在Q1、W1时D=S。

· However, a monopsony can pay lower wages and employ fewer workers. 然而，垄断者可以支付较低的工资，雇用较少的工人。

Problems of Monopsony in Labour Markets 劳动力市场中的垄断问题

· Monopsony can lead to lower wages for workers. This increases inequality in society. 垄断会导致工人的工资降低。这增加了社会的不平等。

· Workers are paid less than their marginal revenue product. 工人的工资低于他们的边际收入产品。

· Firms with monopsony power often have a degree of monopoly selling power. This enables them to make high profits at the expense of consumers and workers. 拥有垄断权力的公司往往有一定程度的垄断销售权。这使他们能够在牺牲消费者和工人利益的情况下获得高额利润。

· Firms with monopsony power may also care less about working conditions because workers don't have many alternatives to the main firm. 拥有垄断权力的公司也可能不太关心工作条件，因为工人在主要公司之外没有很多选择。

Monopsony in Product Markets 产品市场中的垄断

In several industries there is one buyer and several sellers. 在一些行业中，有一个买家和几个卖家。

· Supermarkets have monopsony power in buying food from farmers. If farmers don't sell to the big supermarkets, there are few alternatives. 超市在向农民购买食品方面具有垄断力量。如果农民不卖给大超市，就没有什么替代品。

· Amazon.com is one of the biggest purchases of books. If publishers don't sell to Amazon at a discounted price, they will miss out on selling to the biggest distributor of books. 亚马逊网站是最大的书籍购买者之一。如果出版商不以折扣价卖给亚马逊，他们就会错过卖给最大的图书分销商的机会。