Introduction to Business Studies

Introduction to business
studies

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
A brief introduction defining demand and supply......................................................................1
Analysis of key determinants using real life examples...............................................................2
Importance of demand supply in economics...............................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
The business studies are an element that comprise of finance, accounts, operational,
marketing and organisational studies that aid a business to attain long term sustainability with
adequateness and perfection (Cato, 2020). In addition to this it also consists of business
administration, accounting, analysis, computing, statistics, developing markets, human resource,
finance, research and technology, commercial law and many other aspects as well that assist to
enhance working possibilities in effective manner. Economy is an aspect that define certain
distribution and trade that is well consumed about goods and services in competitive
marketplace. The report below provides better analysis about demand and supply that is
comprise with real life examples.
MAIN BODY
A brief introduction defining demand and supply
In concern of microeconomics, demand as well as supply is considered as economic model
through which subsequent determination of supply is addressed within competitive marketplace.
The relationship in between supplies and demand is based on quantity of specific commodity that
is produces as per wish list of consumers and buyers. The price of any of commodity is
determine with support of suitable interaction that is processed in market so as to develop better
interaction and in resultant equilibrium pricing and standardised agreement is induced in between
consumer and producer of goods. The law of demand and supply is defined as per price of a
suitable goods and services along with the willingness of customers to either sell or buy those
products and services. The law of demand determines that higher the goods price lesser the
demand and lesser the price higher the market demand (Hoskovec and et. al., 2018). It produces
suitable opportunity that is forgo with adequate consumption of goods that is also be replicate
with concern of suitable values.
On the other hand, as per concern of law of supply the sold quantities is dependent on the
upward slope that mean higher the price higher the supplied quantity as well. If producer supply
goods and services at higher rate the selling price justifies better opportunity as concern of
additional unit sold.
1