Report on Communication Skills

9 Pages1935 Words403 Views

Added on 2020-04-07

Report on Communication Skills

Added on 2020-04-07

BookmarkRelated Documents

Running Head: Communication skills1Report: Communication skills

Communication skills2ContentsIntroduction.......................................................................................................................3Literature review’s interpretation and analysis.................................................................3Income effect over the price, demand and the profit....................................................4Giffin goods effect over the price, demand and the profit............................................5Inferior goods effect over the price, demand and the profit.........................................6Analysis:...........................................................................................................................7Conclusion........................................................................................................................7References.........................................................................................................................9

Communication skills3Introduction:Demand and price has a direct relationship with each other. If the price of a product enhances than directly the demand of the product get affected whereas if the prices of a product falls down than the customers shows more interest in buying the more quantity of theproduct. Demand and price relationship have a negative relationship with each other in normal scenario but the further analysis over both the components depict that there are various factors which affects the demand and price relationship and sets a positive relationship among both the two components. For instance, if the price of any luxurious product would enhance than the people will get more attract towards that product and would buy it such as diamond and antique pieces. In this study, it has been analyzed that if the price of a product would fall down than will the demand of the product would enhance or the company would be able to earn more revenue and profit through that product. For this study, various journal articles and books have been studied. Literature review’s interpretation and analysis:It is a general saying that the demand and price of a specific product has a direct and negative relationship with each other such as if the price of potato would enhance than the people would stop buying the potato and thus the demand of potato would decrease. Thus these components directly make an impact over other and thus according to the general saying, if the business would decreased the price of their product than the demand of the product would enhance and hence, the company would be able to make more profits. But many economists have argued that this does not take place in every situation and even this law of demand and price is based upon various other factors. Through this report, it has been found that the various factors are available in the marketplace where the law of price and demand does not apply (Mapleton, 2017).

End of preview

Want to access all the pages? Upload your documents or become a member.

Business Economics Assignment - Polo Mint

|12

|3005

|468

Demand and Supply Market Forces: A Case Study of Asda

|13

|3390

|64

Diploma for Accounting PDF

|11

|2525

|41

A Comparative Analysis of the Price Dropping Business

|2169

|422

Contemporary Economic Analysis: Law of Demand and Supply, Theories of Economics

|12

|3493

|232

Economics Assignment - Study Material and Solved Assignments

|913

|378

Report on Communication Skills