Factors Influence Supply of Coca Cola

Added on -2020-02-12

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ECONOMIC
TABLE OF CONTENTSAssessment 2....................................................................................................................................3Factors influence demand of coca cola..................................................................................3Factors influence supply of coca cola....................................................................................4Economic Theory...................................................................................................................5Assessing Elasticity of demand (Ed) and supply of Coca cola..............................................6REFERENCES................................................................................................................................8
Assessment 2In the market there are several kinds of goods as well as services are available which areconsumed by the local community. Further, the demand for a product or service become changesand influence because of different number of the aspects and factors. At the present case there isa beverage item selected in which product is like as Coca cola which affects because of differentkinds of factors. Apart from this, in the economic concept there are three key elements areconsidered which are such as supply, demand as well as price of the product which are analysedin the current study regarding Coca cola product.Factors influence demand of coca colaThe Coca cola is a product which consumed by the customers at the worldwide and its demandaffects because of some factors which are mentioned as below:Price- When pricing level of the Coca product increase as well as reduce then theredemand gives response in opposite way. Further, due to enhance and decline pricedemand of Coca coal reduce as well as improve respectively (Nattrass and Varma, 2014).Price of related product- In the market there are relative or substitute products of Cocacola available which are such as Miranda, 7up, Pepsico etc. Further, in case price of thesubstitute product gets down then demand of Coca cola declines because customers ofCoca cola switch towards that product and vice-versa.

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