Essay should be in WORD Form
Essay should be: 1,250 – 1,500 words (not including appendices/bibliography)
reference and provide full citaon for ALL sources used, including artcles,
textbooks, lecture slides and course materials. This includes any direct quotes and paraphrased text.
If in doubt, reference it
textbooks, lecture slides and course materials. This includes any direct quotes and paraphrased text.
If in doubt, reference it
The main body of the text should be followed in all cases by a bibliography/list of references, giving
precise details of all the sources (printed, electronic, and other) that you have consulted.
In the UK and US, it is estimated that Ticketmaster has over 70% market share for the
sale of live music events. In particular, it has received criticism after its merger with
LiveNation in 2010 which owns a large number of live music venues, and also of its
influence in the secondary resale market. In addition, Ticketmaster makes money by
charging customers a service fee when they buy tickets, which can be as high as 75% of
the face value of the ticket.
Most recently, Ticketmaster received heavy criticism over the sale and distribution of
tickets to watch US singer Taylor Swift in her upcoming tour. However, with a limited
supply of tickets and high global demand, alongside concerns over ticket security which
often requires technological innovation, some have argued that high prices and
monopoly power is inevitable.
Ticketmaster however claims that “they aim to put fans first, and that the people we care
most about are the fans.”
To access the full mark range, the essay should be:
• demonstrate clear knowledge and understanding of the price mechanism,
resource allocation, monopoly power and government intervention.
• clearly apply your knowledge with the use of diagrams, to the market conditions
surrounding the sale of tickets for live music events and the ways in which these
can influence resource allocation and consumer welfare.
• provide relevant and precise economic analysis of the relative merits of
government intervention in the market for tickets for live music. You may wish to
consider the rationale for government intervention and the different ways in
which governments might intervene.
• provide an evaluative judgement on whether government intervention to reduce
monopoly power for firms such as Ticketmaster is desirable and consider that
against the merits of leaving the sale of live music tickets to the free market.
• demonstrate effective study skills in the research and presentation of your work.
precise details of all the sources (printed, electronic, and other) that you have consulted.
All references should be acknowledged using the Harvard referencing system.
in a clear font (Arial, Calibri or Times New Roman).
– in 12 point size font.
– using double spacing.
– using 2.54cm (1 inch) margins
– in 12 point size font.
– using double spacing.
– using 2.54cm (1 inch) margins
((Refrence list at the end))
((Bibliography))
Do not use endnotes or footnotes
Essay should contains Diagrams
Essay should be like: Intro, Why, How, It depends, conclusion
This essay plan below will help you to understand how should it be:
In economics, the price mechanism and its three functions, has always been recognised
as one of the primary methods through which scarce resources are allocated. However,
without government intervention, it is possible for resources to be allocated unfairly or in
an inefficient manner, which gives rise to the possibility of government intervention. But
is it always desirable for governments to intervene, or should the free-market price
mechanism be left to the forces of demand and supply only?
without government intervention, it is possible for resources to be allocated unfairly or in
an inefficient manner, which gives rise to the possibility of government intervention. But
is it always desirable for governments to intervene, or should the free-market price
mechanism be left to the forces of demand and supply only?
In the UK and US, it is estimated that Ticketmaster has over 70% market share for the
sale of live music events. In particular, it has received criticism after its merger with
LiveNation in 2010 which owns a large number of live music venues, and also of its
influence in the secondary resale market. In addition, Ticketmaster makes money by
charging customers a service fee when they buy tickets, which can be as high as 75% of
the face value of the ticket.
Most recently, Ticketmaster received heavy criticism over the sale and distribution of
tickets to watch US singer Taylor Swift in her upcoming tour. However, with a limited
supply of tickets and high global demand, alongside concerns over ticket security which
often requires technological innovation, some have argued that high prices and
monopoly power is inevitable.
Ticketmaster however claims that “they aim to put fans first, and that the people we care
most about are the fans.”
To access the full mark range, the essay should be:
• demonstrate clear knowledge and understanding of the price mechanism,
resource allocation, monopoly power and government intervention.
• clearly apply your knowledge with the use of diagrams, to the market conditions
surrounding the sale of tickets for live music events and the ways in which these
can influence resource allocation and consumer welfare.
• provide relevant and precise economic analysis of the relative merits of
government intervention in the market for tickets for live music. You may wish to
consider the rationale for government intervention and the different ways in
which governments might intervene.
• provide an evaluative judgement on whether government intervention to reduce
monopoly power for firms such as Ticketmaster is desirable and consider that
against the merits of leaving the sale of live music tickets to the free market.
• demonstrate effective study skills in the research and presentation of your work.