Economics class: Labour plans to retain key private sector role in Britain’s nationalised railways

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• Market structures

Click to read the article and then answer the questions:

Labour plans to retain key private sector role in Britain’s nationalised railways

• Distinguish between nationalisation and privatisation

• Explain the role of rolling stock companies (roscos)

• Explain what is meant by private finance initiative (PFI)

• Define natural monopoly

• Using a natural monopoly diagram, analyse some of the difficulties associated with the privatisation of the railway industry

• Evaluate whether the railways should be brought back into public ownership

Gavin Clarke, Emmanuel College