Economic Concepts and Models: A Detailed Analysis of Market Forces

This essay provides an overview of fundamental economic concepts and models, focusing on demand, supply, and elasticity. It begins by addressing Trampoline's profit issues, linking them to microeconomic principles. The essay then discusses the law of demand and the factors influencing it, including consumer income and preferences. Elasticity in demand is explained as alterations in the demand curve due to changes in various elements. The essay also covers supply, the law of supply, and the factors affecting it, such as technology and production costs. Changes in the supply curve are attributed to elements like production expenses and government subsidies. The conclusion highlights the impact of enhanced product rates on profitability and supply, emphasizing the importance of demand and supply elasticity in representing the market situation. The essay references several academic sources to support its analysis.

Economic Concept
and Models

Table of contents
• Introduction
• Trampoline's profit Issues
• Concept of microeconomics
• Law of Demand
• Factors affecting demand
• Elasticity in demand
• Supply
• Law of Supply
• Factors affecting supply
• Change in supply curve
• Conclusion
• References

Introduction
Whole collection of the set of the every component that are
outside of the commercial business as well as also affecting
the whole operations of the firm is known as business
environment. Consumers, government, suppliers, cultural,
legal as well as technological features. Such circumstances
comes in the research of the economics.

Trampoline's profit Issues
With respect to the view point of the news of BBC, the
cost of the shipping is also tend to be highly
increasing and also because of this the entire set of the
expense of the trampoline is drastically enhancing. So
it is actually being understood by some of the retailers
of the game who is tend to be seemed to be the owner
of the outdoor set of the toy company.

Concept of Micro economics
Here is the demand for the having of the need of the
people to buy the offering of the company that are
supported with the adequate power of buying in order
to purchase the specific product and other components
which are seemed to be remain the same.

Law of demand
Law of demand – it means that there is the inverse linkage
in the rates as well as the quantity of the offered goods and
services.

Factors affecting demand
 Price of the commodity
 Income of the consumer
 Taste an preferences of the customers

Elasticity in Demand
It is also refers to the alteration in the curve of demand
which mean to the movement in the whole demand
curve which can move from left to right and it is also
altered in the various element like fluctuation in
income, rates of the products, preferences as well as
taste of the consumers.

Supply
Supply – It means to the common element that represents
the entire required quantity for the specific good to the
consumers.

Law of supply
Law of supply means to the optimistic connection
among the offered set of the rates as well as the supplied
level of the quantity of the goods. As every component
remain unvarying, at the time when the rates tend to be
enhances of the specific goods than the supplied quantity of
the given products also enhances as the manufacturer will
sell more and more goods.

Factors affecting supply
 Technology
 Costs of production

Change in Supply Curve
Alteration in the supply curve is also tend to known as the
move in the set of curve of supply as the movement in the
several elements which involves the production expense,
subsidies from government as well as it also tend to
includes and comprises of the goals of the company and
tech.