Management Economics e Assessment 2

Management Economics
Assessment 2

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Description of business, its products and history........................................................................1
Analysis of market in which the company has been operating since inception. The reason for
organisation choice to operate in one of market structures.........................................................3
Organisational operation in different market structure................................................................5
Nature of industry wherein firm operates....................................................................................7
a. Operations of company in different market structure is more optimal. Discussion................7
b. Suggestion for lesser or greater government intervention.......................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Managing an enterprise with the help of economic concepts, theories or tools is refereed to
managerial economics. It is amalgamation of economic theories and thoughts of managers for
better decision making addition to problem solving. It assists in analysing, predicting addition to
assuming organisational conditions (Chandra, 2020). Key role of managerial economics in a firm
are bringing coordination, studying business environment, analysing investment, setting prices,
controlling cost and scheduling production. For the assessment, considered enterprise is Apple
which was established in 1976 at California, US. It works with vision of making bets products of
globe and leaving the world better than it is found. It is largest information technology and fourth
largest PC vendor along with smartphone manufacturer.
The assessment highlights overview of company, description of its activities and
products. It also entails discussion about its market structure and suggestion regarding
government intervention.
MAIN BODY
Description of business, its products and history
About the company
Apple is American informational technology venture founded by Steve Jobs, Ronald
Wayne as well as Steve Wozniak in order to develop together with sell Apple I personal
computer. It operates in cloud computing, retail, media, computer hardware, artificial
technology, consumer electronics, semiconductors, digital distribution, financial technology and
computer software. It strives for bringing best computing based experience to educators,
consumers, students and creative professional around the globe by using innovative software,
hardware addition to internet offerings (Apple, 2021). Key purpose of the establishment is to
create commodities which enrich daily lives of people. It not only develops entirely new
categories of products, including, iPhone or Apple Watch, rather continually innovate categories.
Its products or services
Apple designs, manufactures along with market wide categories of smartphones, tablets,
accessories, personal computers, wearables and sell variated related services. Mentioned below
are products or services of Apple:
1