Economic Concepts and Models: An In-Depth Trampoline Market Review

This report provides an overview of the economic concepts and models applicable to the trampoline market, focusing on issues affecting trampoline profits due to increased delivery prices. It examines microeconomic principles, including demand and supply modules, and the factors influencing each. The analysis covers commodity prices, consumer income, and preferences affecting demand, as well as manufacturing costs, government aid, and technology affecting supply. Elasticity of demand and supply are also discussed, illustrating how changes in these factors impact the market. The report concludes that rising trampoline prices influence both demand and supply, highlighting the importance of understanding these economic concepts for managing the flow of goods and services. Desklib offers a platform for students to explore similar solved assignments and past papers.

Economic Concepts and
Models

Article Review - Economic Concepts
And Models
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Context
• Overview
• Issues of Trampoline's profit
• Demand module
• Factors Influencing Demand
• Elasticity of Demand
• Supply module
• Factors Influencing Supply
• Elasticity of Supply
• Conclusion
• References

Overview
Economics is the social science that deals
in the production, consumption &
distribution of goods & services globally.
This basically studies the businesses,
nation, government and the individual is
allocating its resources globally.

Issues of Trampoline's profit
• In a BBC news article, It’s been noticed that
delivery price of the trampoline increasing due
to which is impacting on increment of overall
prices of trampoline that is identified by the one
of the retailer who is involved in game industry.
In consideration to Outdoor games, James Owen
said that there is huge difference between
transportation cost of the trampoline & the port
congestion that are high for the larger size toys
which are climbing frames and trampolines.

Concepts in Microeconomics
This is the general study of individual,
behaviour and the household of the
company which is ensuring to make better
decision & to allocate resources in the
larger market. It is generally applied to the
market & also explain the market of goods
& services that deals with the people &
economic problems.

Demand Module
Demand, a model that explain
willingness of the individual to buy
a specific products & services,
which is being supported with
effective buying power of getting a
specific goods and services.

Factors Influencing Demand
• Commodity prices:
• Consumer’s income :
• Taste and preferences of consumer:

Elasticity Of Demand
The concept is described as a
sustainable change in demand of
quality as the variation in several
factors which consists the choices of
customer, prices of commodity,
income of consumer & so on.

Supply Module
Supply is a concept which describe
the entire availability of the products
in the target market so that they can
ensure the better revenue and sales
in the marketplace.

Factors Influencing Supply
 Costs of manufacturing:
 Aids rendered by Government:
 Technologies:

Elasticity of Supply
 It explains the change in the curve
of supply due to variation in
various factors that are state of
technology, production cost and the
subsidies offered by the
government. In context to
trampoline, increases the supply of
goods tends to shit the supply
curve from S0-S1.