In the News
Why Pints Are Hitting £5 - It's No Joke!
1st April 2025
Pints for a fiver?! It’s no joke. The average price of a pint in the UK is set to climb above £5 for the first time in April 2025 – and it’s not just drinkers feeling the pinch.
In this video, we dive into the economics behind soaring pub prices – from rising wage costs and energy bills to the economics of the shut-down point. What happens when pubs can't even cover their day-to-day running costs? Why are independent pubs closing at such a rapid rate? And how might this reshape the pub industry in the UK?
We'll explore key microeconomic concepts like:
Average Variable Cost (AVC)
Shut-down point
Cost structures
Market structure changes
Monopoly power and economies of scale
Whether you're a student gearing up for your A-Level, IB, or GCSE Economics exams or a teacher looking for current context, this video brings real-world economics to life!
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
You might also like
Falling oil prices and the energy industry
19th May 2015
Economics of Falling Milk Prices
11th August 2015
Perfect Competition - The Shut Down Price
Study Notes
Abnormal and Sub-Normal Profits - Key Diagrams
Topic Videos
3.3.2 Marginal Cost (Edexcel A-Level Economics Teaching PowerPoint)
Teaching PowerPoints
Britain’s High Streets: A Crisis or an Opportunity?
12th September 2024
Daily Email Updates
Subscribe to our daily digest and get the day’s content delivered fresh to your inbox every morning at 7am.
Signup for emails