Principles of supply and demand

Assignment Help Project Management

Reference no: EM133358828

Assignment:

Choose a product that you think illustrates the principles of supply and demand. It could be something like a Lamborghini that has a very limited supply and a great demand that makes it expensive. Or it could be something like a calculator that used to be very expensive but has become cheap because of trends in technology.

Give a brief overview of the company that makes the product. If the product is made by multiple companies, just choose one of them. Respond to the following:

1. What does the company make?

2. What value does this product provide to consumers? Why do they buy it?

3. Explain how the product can illustrate the law of supply and demand.

4. Which of the following six external forces in the readings do you think most affects the balance of supply and demand? Describe the effect it has. (For example, the technological environment made the chips in calculators cheap, and the low price increased demand.)

economic environment;
legal environment;
competitive environment;
technological environment;
social environment; and
global environment.

Reference no: EM133358828

Questions Cloud

Which professional tenet has the educator violated : she feels she knows enough about the profession and does not need additional professional development. Which professional tenet has the educator violated?

Explain definition of ensemble models : Explain: Definition of ensemble models advantages of ensemble models examples of ensemble models Netflix's million-dollar algorithm

Residential care home : Zaid owned Whiteacre on which she ran a residential care home. She validly sold part of the estate, Rosebarn, to Lillian.

Legal imagination of campus sexual violence : A legal academic wrote an article about Lighting a Spark, Playing with Fire: Feminism, Emotions, and the Legal Imagination of Campus Sexual Violence

Principles of supply and demand : Choose a product that you think illustrates the principles of supply and demand. It could be something like a Lamborghini that has a very limited supply.

Elizabeth is giving speech about cancelling : Elizabeth is giving a speech about cancelling student loan debt to an audience that is not fully in support of the idea.

Analyze and conclude on the strengths of the industry forces : The Strategic Plan Assignment aims to give students an example of thinking through, elaborating, and delivering a strategic plan for a company.

Behavior in criminal law : Where would you look to find the details on how you must conform your behavior in criminal law? - what part of criminal law?

Describe what each skill involves and provide an example : BUSN 119 Centennial College Describe what each skill involves and provide an example of how you demonstrate or indicate that skill needs to be developed

User Account

All Pages