This presentation, created as part of the BMP40 Economics course, analyzes the rise in trampoline prices in the UK, providing an application of microeconomic concepts. The introduction defines economic models and microeconomics, setting the stage for an examination of the factors contributing to price increases. The presentation argues that rising transportation costs, port congestion, and inflation are key drivers. It then delves into the application of economic theories, specifically elasticity and the laws of supply and demand, to explain the market dynamics at play. The analysis highlights the relatively elastic demand for trampolines and the impact of supply chain disruptions. The conclusion summarizes the key findings and reinforces the importance of economic models in understanding market behavior. The presentation includes references to academic sources that support the analysis.
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