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SBEP 4432- International Journal of Production Economics

   

Added on  2020-03-13

5 Pages1070 Words67 Views
Running head: Annotated bibliographyCritical ThinkingName of the studentName of the University Author’s Note
SBEP 4432- International Journal of Production Economics_1
Annotated bibliographyAvinadav, T., Herbon, A. and Spiegel, U., 2013. Optimal inventory policy for a perishableitem with demand function sensitive to price and time.International Journal of ProductionEconomics,144(2), pp.497-506.Herbon (2013), have illustrated that increase demand of a product is due to the manyreason such as consumer purchasing capacity increases, fallen of complementary goods price,product in demand due to latest fashion or consumers tastes etcetera. All the above-mentionedfactor result in the price variance of any product. It has also been seen that growth in number ofpeople using any certain product due to population growth and expansion in the market result into increase in product demand. Environmental Economics. 2017.Econ 101: The Basics of Supply and Demand. [online]Available at: http://www.env-econ.net/supply_demand.html [Accessed 15 Aug. 2017].According to the researcher, the price of the product can change because of four majorfactors namely Demand increase or decrease and Supply increase or decrease. According to theresearcher, there is a universal statement that people at higher price of any product buy lessquantity whereas a seller want to sell more quantity when the price is high which reflects that,quantity demand is inversely related with the price and the quantity supplies and the price aresomewhat directly related to each other. It reflects on the people mindset that selling of productfor profitability will be severely hampered depending on the price and the supply also on thedemand of the product in the market.Kilkki, O., Alahäivälä, A. and Seilonen, I., 2015. Optimized control of price-based demandresponse with electric storage space heating.IEEE Transactions on IndustrialInformatics,11(1), pp.281-288.
SBEP 4432- International Journal of Production Economics_2

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