Economic Concepts and Models: Understanding Demand, Supply, and Elasticity

Economic Concepts and
Models

Table of Contents
 Introduction
 Trampoline profit issues
 Microeconomics
 Demand
 Elasticity of demand
 Supply
 Elasticity of supply
 Conclusion
 References

Introduction
Economics is the analysis of the scarcity of
resources which are meant to produce the goods and
services so that they can full fill the needs and
demand of the target market. This basically
evaluates the demand and supply in the market and
flow for the same. There are various variety of
complex issues that are emerging in the large
market.

Trampoline's profit Issues
This is being stated from the article of BBC News,
souring prices of trampoline is taking place due to
the increasing shipping cost of the trampoline
around the world. This is being known from the
game retailer who is operating its business in the
market. In context to Outdoor Games, James
Owen is the owner of this company who is
operating in toy retailing industry.