Economic Principles: Analyzing Demand, Supply, and Market Structure

This report provides an overview of fundamental economic concepts, focusing on demand, supply, and market structures. It explains microeconomics and its theories, including the theory of consumer demand. The report details the laws of demand and supply, highlighting the inverse relationship between price and demand, and the direct relationship between price and supply. Different market structures, such as monopoly, oligopoly, and monopolistic competition, are examined, outlining their unique features and impacts on pricing and market control. The report concludes that fluctuations in shipping costs and production expenses significantly affect the demand and supply dynamics of a UK-based toy manufacturing company.