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UNIT 5: BUSINESS ECONOMICS
AND THE DISTRIBUTION OF INCOME
LABOUR MARKETS AND THE DISTRUBUTION OF INCOME
Discrimination: Occurs when a group of (potential) workers are treated differently from
others ­ e.g. pay, employment, promotion or working conditions.

Government Intervention: Employment Equity Act (03); Disability Discrimination Act (95).

Imperfect Competition…

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Oligopoly: 3+ big firms in an industry, dominating production. E.g. Tesco, ASDA, Sainsbury's,
Morrisons ("The Big Four").

Duopoly: 2 big firms in an industry, dominating production. E.g. Pepsi and Coca Cola.

Game theory looks at how one firm changes their approach as another firm alters their
strategy in the…

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INEQUALITY The person will to pay the highest price gets the good ­ thus there is
an inequality in the distribution of income and wealth. This is true for
expensive goods (e.g. cars); but EVERYONE is entitled to education and
healthcare.




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