Business Environment: Trampoline Profit Issue, Microeconomics, Market Structure, Elasticity

Business Environment

Table of Content
Introduction
Trampoline profit issue
Concept of micro economics
Market structure
Elasticity
Conclusion
References

INTRODUCTION
Economics is the study of the scarcity and the
implications of the available resources,
manufacturing of goods and services, their growth
and welfare over a time. There are great variety of
complex issues are emerging which are having the
main consideration in the marketplace. Demand and
supply are the two wheels of economics which drive
the whole market and ensures the flow of goods and
services in the target marketplace.

Trampoline’s profit issue
According to the BBC News, this is based on increasing
shipping cost & port congestions within the United Kingdom.
One of the game retailer whose name is James Owen, operating
its business with out of the toy retailer company, Outdoor Toys,
increasing prices of the trampoline is hurdle the overall market
of the trampoline due to rise in the shipping cost which is rises
by 40-50% on the big size toys that are trampoline and
climbing frames so this reducing the overall supply of
trampoline in the market.

Business
environment

Social
Existence of social factors in a respective business firm largely impacts on working of the business firm. Attitude and
shared beliefs of the population emphasis a great role in diversifying the business activities performed in the business
firm. Following are the social factors that affects the business working (Von Gottberg, 2018);
1. Demographics
2. Education level
3. Attitudes of residents
4. Behaviour of individuals

Economic
Various economic factors like saving rate, inflation rate etc. highly impact on working of Rightmove Plc. in terms of
determining the demand and aggregate investment in an economy. Following are the elements included in given factor
(Rosethorn, 2019);
1. Exchange rates and stability
2. Unemployment rate
3. Interest rates
4. Economic growth rate