The book sector in Ireland is primarily made up of publishers, wholesalers, and bookshops themselves. These three components of the sector should be considered as part of the whole and all three are inextricably linked.
The key characteristic that distinguishes Ireland’s book sector is the extent to which a significant proportion of the books sold are imported from the UK and distributed through the book wholesalers.
Publishing Ireland, the Irish Book Publishers’ Association, was set up in 1970 to build a network for Irish book publishers to share their expertise and resources. The association has 61 members across the island of Ireland, consisting…
1) Comment on market concentration in the Irish Bookselling market.
2) Critically evaluate the key market characteristics of the Irish Bookselling Sector, justify your selection of market structure, and discuss the competitive nature of the market.
3) Using an economic model, describe short-run equilibrium in this market.
4) Market power can be described as the uniqueness of advantage, simply having the resources and capacity to make something. Discuss the Market Power Paradigm describe how it could contribute to the competitive advantage of the firm.
5) “To date the only fallout from the vote to leave the EU in June 2016 has been seen through a significant adjustment in the exchange rate value of sterling.” Examine the economic impact of exchange rate movements on the Irish economy.