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Business Economics Assignment Case Study

   

Added on  2020-01-28

9 Pages2216 Words100 Views
BUSINESS ECONOMICS

TABLE OF CONTENTSIntroduction..........................................................................................................................................3Task 1....................................................................................................................................................3A..................................................................................................................................................3B..................................................................................................................................................3C .................................................................................................................................................4D..................................................................................................................................................4E..................................................................................................................................................4F .................................................................................................................................................4Task 2....................................................................................................................................................5A..................................................................................................................................................5B .................................................................................................................................................5C..................................................................................................................................................5Task 3....................................................................................................................................................5A..................................................................................................................................................5B .................................................................................................................................................6C..................................................................................................................................................6D..................................................................................................................................................6E..................................................................................................................................................6F..................................................................................................................................................6G..................................................................................................................................................6H..................................................................................................................................................7I...................................................................................................................................................7J ..................................................................................................................................................7Conclusion............................................................................................................................................7References............................................................................................................................................8

INTRODUCTIONBusiness Economics (BE) is referred as the economic concept that is concerned with theeconomic theory and quantitative methods by which businesses can be analysed and theirrelationship with labour, capital and product markets can be evaluated. BE is related with theformulation of business problems and fund the effective solution by applying appropriate tools.Present report will cover several given scenarios in context of case studies (Crumpton, 2016). TASK 1ADue to bad weather condition in India and Brazil, they have reduced the production of sugar.Demand is increasing but supply is decreasing so, overall it affects the price of sugar. Along withthat, growth of population is also having its impact on pricing. Illustration 1: Demand/Supply curve (Source: Emmett, 2015)BExcluding weather, there are two major factors which affect the price and demand for gas.Economic condition and petroleum prices along with the energy policies and taxes imposed bygovernment have their impact on the economic process of gas. Demand from manufacturer’s sidewill be increased if economic condition would get changed (6 Factors That Influence ExchangeRates, 2015). If petroleum fuel prices will fluctuate then it will have major impact on the pricing.Thus, it can be said that higher demand will increase the prices and vive-versa.

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