Business Environment BMP4003: Economic Concepts and Models Review

This presentation provides a review of an article focusing on the rising prices of trampolines due to increased shipping costs, analyzed through the lens of microeconomic and macroeconomic concepts. The analysis covers market structures, including perfect competition, monopolistic competition, oligopoly, and monopoly, alongside elasticity of demand and supply. It highlights how the toy industry operates in a monopolistic market facing reduced demand in key regions. The presentation concludes that the soaring prices are a result of rising shipping costs and their impact on the supply and demand dynamics in the marketplace.