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Understanding Microeconomics: Demand, Supply, and Elasticity in Trampoline Business

   

Added on  2023-06-08

14 Pages625 Words430 Views
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Economic Concepts and
Model
Understanding Microeconomics: Demand, Supply, and Elasticity in Trampoline Business_1

Table of content
Introduction
Profit problem in trampoline’s business
Concept of microeconomics
Demand and supply
Law of Demand
Factor which influence the specific demand of trampoline
Law of Supply
Factor which influence the supply of trampoline
Elasticity of supply
Conclusion
Reference
Understanding Microeconomics: Demand, Supply, and Elasticity in Trampoline Business_2

INTRODUCTION
In this report it mainly discuss about the main
concept of microeconomics which mainly
concentrates on the behavior of customer and
assertiveness toward the products and services.
Also it focuses on how people allot scarce funds
for the purpose of production, distribution and
consumption, both individually and jointly.
Understanding Microeconomics: Demand, Supply, and Elasticity in Trampoline Business_3

Profit problem in trampoline’s business
On the basis of the article of BBC news, the transportation
and port congestion prices is rises and it also increases the
price of the toys which includes climbing frames, swings and
trampolines.
According to the study of Drewry organization, the shipping
cost of 40 foot containers is increases nearly three times since
past years.
Understanding Microeconomics: Demand, Supply, and Elasticity in Trampoline Business_4

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