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Understanding Economic Concepts and Models in Business Environment

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Added on  2023-06-14

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This presentation discusses the concepts of microeconomics, law of demand, elasticity, supply, law of supply, factors affecting demand and supply, and change in supply curve in the business environment. It also highlights the impact of rising shipping costs on trampoline prices in the UK. Desklib offers study material, solved assignments, essays, and dissertations on these topics.

Understanding Economic Concepts and Models in Business Environment

   Added on 2023-06-14

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Business Environment
Understanding Economic Concepts and Models in Business Environment_1
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
Understanding Economic Concepts and Models in Business Environment_2
Introduction
Business environment refers to sum
total of all the factors external to the
venture and which greatly influence
the overall functioning of the
business. Economics is the branch of
study which ensures the production,
consumption & also the transfer of
wealth.
Understanding Economic Concepts and Models in Business Environment_3
Trampoline's profit Issues
According to BBC News, increasing
shipping cost of trampoline is causing the
rising price of the trampoline in United
Kingdom and it is being stated by one of
the game retailer. Outdoor Toys owner
named James Owen stated that there is the
signifiant change in the high shipping cost.
Understanding Economic Concepts and Models in Business Environment_4

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