Economic Concept and Models - Desklib

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
Economics may be defined as the process of
studying the economic resources along with their
usage in the different types of situations. Different
types of issues are faced by the management of the
business organisation while operating the market,
which can't be ignored (Astapenko, 2018). There
are different types of factors like competitors ,
suppliers, customers, government and many more
which a huge impact on the environment of the
business.

TRAMPOLINE'S PROFIT
ISSUES
On BBC news an article has been identified, which is totally
related to increase in the cost of the big toys because of soaring
of shipping cost and port congestion. This is being identified by
one of the company owner of Trampoline. Owen, who is the
owner of outdoor toys says that a major modification has been
seen in the prices of the big toys which comprises of trampoline
(Brauer and Anderton, 2020). It has been identified by them that
port congestion will be more for those toys which are of big in
size.