Understanding Economic Concepts and Models: A Case Study on Trampoline's Profit Issue

Economic Concepts and Models

Table of Content
 Introduction
 Trampoline's profit issue
 Concept in microeconomics
 Law of Demand
 Elasticity in Demand
 Law of supply
 Conclusion
 References

Introduction
Economic is a examination of definite resources that
are limited and having wider uses which are,
manufacture of products, selling of goods and services
and welfare of society over particular period. It is an
simplified version of reality from which people can
observe, predict and make use of economic resources.
This is a link between people and society for welfare
of society by behaviour towards economic resources

Trampoline's profit issue
From the article BBC news it has been analysed that the
trampoline's shipping cost prices is increasing so this
influenced overall price of the product and it is mentioned by
a toy retailer. In context to the offline games the own James
Owen stated that there has been a essential change in overall
shipping cost which seems very high for a bigger size toy
like trampoline. In making good profit out of that can now a
hurdle for them due to increases in the transportation cost.