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Supply and demand Essay Topics & Paper Examples

What Is the Right Supply Chain for Your Product

The technology has improve glaringly the capacity of enterprises , make the supply chain every time more efficient thank to globalization we can contact rapidly but at the same time new markets grow and the competence with new ideas. Nevertheless having an excellent tool as communication the enterprise makes a mistake don’t choosing the appropriate supply chain for their products. The costs are so high due to the bad relationship between the company and the retailers, Dysfunctional industry practices, Overconfidence in promoting, Poor coordination between the chain links and Excess demand or shortage. It’s important to predict the demand and the profit to choose the right supply chain. It must consider demand predictability, product life cycle, market standard response, product…

Recommend Your Friends

1. F. James McDonald the former president of the US automobile workers federation suggested an average reduction of 4% in the price of the car. The automobile market was weak, which resulted in unemployment. Lower price would lead to greater sales and stimulate employment. McDonald believed that a 4% reduction in price would increase sales by 16%.David black, representing the management of the automobile manufacturers disagreed with McDonald’s estimation. Black cited studies which indicated price elasticity’s ranging from 0.5 to 1.5.Black made it clear that he was referring to the elasticity of demand in response to a permanent price change of all manufacturers. He admitted that the elasticity to a temporary price cut might be greater. The studies to which…

The basic economic problems

1a) The basic economic problem is one of scarcity of productive resources . Explain how resources are allocated between competing uses in a market economy . (10) Scarcity refers to a limited number of resources such as workers, machines, factories, raw materials . A market economy also known as a free market is one where decisions are made through the market mechanism. The forces of demand and supply, without any government interference, determine how resources are allocated. What to produce is decided upon by the level of profitability for a particular product. Buyers cast their spending votes in the market place.How production should be organized is equally determined by what is most profitable. Firms are encouraged through the market mechanism…

Movement and Shift Along Demand and Supply Curve

Introduction The market is an amazing instrument, it enables people who have never met and who know nothing about each other to interact and do business. Supply & demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving…

Supply and Demand Paper

There are many factors that should be considered before buying a new car; this decision should be based on in-depth consumer research prior to stepping foot onto a dealership lot. In today’s vehicle market you can expect to see varying interest rates, varied vehicle supply and depending on the economy, dealership promotions and gimmicks which all play a role in the decision making process for a new vehicle purchase. The vehicle sales market is very competitive; do not let the undertaking duty of purchasing a new vehicle become overwhelming. Instead, prepare yourself with ample consumer research and knowledge before you go new-car shopping. Most adults have heard the saying ‘Supply and Demand’. But, what is Supply and Demand? Supply and…

Demand and Supply Analysis on Iphone 5

Summary- The article shows how Wall Street Journal has tried to prove that the demand of Apple’s Iphone5 has fallen, just because the company cut down the orders of the components used in the manufacturing of the ios device which it outsources. But the fact actually is that apples sale has not fallen, and in fact its sale has increased since the launch of the new Iphone5 in October 2012. Analysis- Analysts and speculators have different views about the demand of the Iphone5.Some speculate that the demand of the ios device has decrease as apple has cut down the order for the components (such as the display screen)to almost half. In opposition some say that the cut in the spare…

Samsung Analysis

Founded in 1939, Samsung is one of the leading companies in the electronics market with 206 offices and facilities in 68 countries globally. The company was founded by the family of the current CEO in a small city of Korea named Taegu operating as an export company (About Samsung-History, par.1). Samsung has grown to become one of the most successful electronic companies with a main focus on digital media and appliances, memory, semiconductors, and system integration. Its profile is one that many companies would like to possess. Throughout the years, the company expanded its product lines and grew its market share and profits. The company is headquartered in Seoul and operates in over 100 countries across the world (About Samsung-History, par.3)….

Principles of Microeconomics

Supply and Demand is a phrase that every one hears in one way or another, Supply and demand phrase according to Colander, (2010) is the most used phrase by economist and the reason is because the phrase provides a good “off-the-cuff” answer for many question that have to do with economy. Example why are interest rates to Low? Because supply and demand. Why is Gasoline so high? supply and demand. This paper will speak about a simulation found on University of Phoenix student website, simulation named “Applying Supply and Demand Concepts” This paper will speak about macroeconomics and microeconomics principles, Paper will also refer to shift of the supply curve and shift of the demand curve. Also how the how…

Supply and Demand Simulation

Supply and demand is considered a basic economic concept, as well as a vital part of a free market economy. In whereas supply is the amount of something, such as a product or service, demand is the amount of the product or service that buyers want to purchase. The relationship between supply and demand has a good deal of influence on the price of goods and services. In the scenario, a number of factors, including price increases or decreases, cause change in supply and demand. For example, a decrease in the rental price of two roomed apartments caused an increase in the demand of houses by a significant margin. A rise in the population of Atlantis led to a greater…

The Evil or Good Invisible Hand?

Invisible hand sound like monster from hooray movie, but in economic term it was a theory buy adam smith, What adam smith say that “Invisible hand” determines what gets produced, how, and for whom.In his views the prices signals and response of the marketplace were likely to do a better job of allocating resources than any government could. (Bradley R.S 2002) In my point of views invisible hand is a selfishness act and it will not disturbed the resources fairly. First Public good will be underproduce , as B.R. Schiller say that when market failure, “ the market tends to underproduce public goods and overproduce private goods.” Because of “free rider” a free rider mean “An individual who reaps direct…

National Bureau of Economic Research

Go to the National Bureau of Economic Research (NBER) Web site, http://www. nber. org, and select New Working Papers. In the Google search space, type “alcohol. ” Use the titles and summaries of the papers to answer the following questions relating to elasticity: (a) Do the mentally ill have perfectly inelastic demands for cigarettes and alcohol? Elasticity helps us define the relationship of changes in price and incomes to the effect of supply and demand. The question posed is: do the mentally ill have perfectly inelastic demands for cigarettes and alcohol? First, we must define what perfectly inelastic demand is. As defined by our textbook, a perfectly inelastic demand is one in which price change results in no change whatsoever…

Wgu Supply Chain Analysis

Abstract This submission offers an analysis of the results from the supply-chain simulation. The submission will discuss strength areas, areas of opportunities, and lessons learned at the end of the simulation. Supply-Chain Analysis This submission analyzes the results of the supply-chain simulation completed. This analysis will comprise several noted points encountered in the simulation. Each discussion point will include a discussion of the correlation of the author’s actions with the simulation results, comparative success results, and alternate actions to produce better results. Further analysis will be applied to the author’s actions with relation to just-in-time inventory management and lean operations. An analysis will also be offered of the application of work cells in the simulated manufacturing plant. Inventory management will…

Esprit: the Clothing Wear

ESPRIT – almost everyone knows this label! No wonder: ESPRIT is one of the most popular and well known fashion brands on the high street today. ESPRIT boasts an impressive collection of clothing for kids, men and women with varied product lines and modern designs, including women’s dresses for all occasions! In 1968 the brand was born in San Francisco. The company incorporated under the name of ESPRIT de Corp. and seven product line were created in 1971. In the same year the company also started business in Hong Kong. ESPRIT manufactures their clothing from Bangladesh as labor cost in minimum here. From many years the company is doing their business in Bangladesh. The business is not limited in supplier…

Factors of Supply and Demand

The fast food chain that I chose to examine is White Castle. They are relatively new to the St. Cloud area and I think that some of the supply and demand factors that I am going to discuss may have already affected their sales. Two supply factors that would make an impact on White Castle would be the price of bread or the grain that it is made of and secondly oil, or more specifically, the price of the vegetables that the oil is made of. If there were a shortage of the wheat that makes the flour, which in turn makes the bread at the bakery that they use to serve their hamburgers, they may need to look for…

Microeconomics – Summary

Linear demand curve: Q = a – bP Elasticity: E d = (ΔQ/ΔP)/(P/Q) = -b(P/Q)E d = -1 in the middle of demand curve (up is more elastic) Total revenue and Elasticity:Elastic: Ed < -1↑P→↓R (↑P by 15%→↓Q by 20%) Inelastic: 0 > Ed > -1↑P→↑R (↑P by 15%→↓Q by 3%) Unit elastic: Ed = -1R remains the same (↑P by 15%→↓Q by 15%) MR: positive expansion effect (P(Q) – sell of additional units) + price reduction effect (reduces revenues because of lower price (ΔP/ΔQ)/Q) 1. Monopoly – maximizes profit by setting MC = MR Monopolist’s Markup = price-cost margin = Lerner index: (P-MC)/P = -1/ Ed (the less elastic demand, the greater the markup over marginal cost) 2. Price…

Chocolate Soap Feasibility Study

This chapter is where you will be able to read the entire description of the Des chocolate soap physically, and substantially. The proponents also gave emphasis on the benefits the consumer could gain upon using the product which is the smoothness of the skin. This is also where they can see the demand and supply analysis as well as the price study of the product. Product Description The product is chocolate soap. It shall be named Dés as a play to the word ‘Desire’. It shall take the form of a solid bar soap. It is a soap intended for bath that contains certain ingredients extracted from the cacao fruit turned into chocolate. The weight of the soap will be…

Elasticity of demand

Elasticity of demand is the relationship between the demands for a product with respect to its price. Generally, when the demand for a product is high, the price of the product decreases. When demand decreases, prices tend to climb. Products that exhibit the characteristics of elasticity of demand are usually cars, appliances and other luxury items. Items such as clothing, medicine and food are considered to be necessities. Essential items usually possess inelasticity of demand. When this occurs prices do not change significantly. “The Cross-price elasticity of demand measures the rate of response of quantity demanded of one good, due to a price change of another good” (Economics.about.com, 2013). When two similar products are present they are considered to be…

Prise Rise of Essential Commodities

Nepal’s economic future inevitably depends upon the growth of its agricultural sector. Out of 26. 4 million populations, nearly 80% of population is employed directly or indirectly in this field. Despite such a large population working in this field there has been food deficit which resulted into turning out Nepal a net importer from exporter, a big irony for a country like Nepal. We should put all our efforts to increase its supply by enhancing the productivity of the essential goods thus lowering our dependency on imports which accounts to 70% of our imports. Besides increasing the supply it’s equally important to try to bring the stability in its market price. Citizens have been forced to pay higher price either…

Economics Problem

1)False When the demand curve shifts left, it means there is less demand for diamonds. However, when consumer income increases, their purchasing power increases (assuming the relative price of diamonds stay constant). That being said, consumers are more likely to purchase more diamonds, especially because it is a luxury good, causing the curve of diamonds to shift right, increasing the demand. 2)False As the population increases, the demand of beef increases as well, causing the demand curve to shift right. In order to accommodate for the increased demand in beef, the price needs to be increased as well in order to reach the appropriate market price for the current supply. Correspondingly, at the new demand curve, consumers are willing to…

Strategic planning

Strategic planning refers to a course of action for outlining organizational objectives, carrying out planning to achieve those objectives, and measuring the usefulness of those strategies (Kovner & Knickman, 2011). How will the organizational performance at Montefiore be measured? Performance measures are important for it improves communication internally among their employees and externally between the organization, customers, and stakeholders. After all, Montefiore effective communication for their strategic planning activities is explained in their mission statement, which is to heal, to teach, to discover, and to advance the health of the community that they serve (Kovner & Knickman, 2011). Montefiore organizational performance should be measured to justify programs and their costs that should include a measure of supply and demand. For…

Ocean Carriers Case Study

The fragmented shipping industry is one of the most essential industries for continuous globalization and growth; industry prospects are surprisingly stable in contrast to the normal logistics businesses that are highly cyclical. The factors that drive average daily hire rates are the age of vessels, market condition, the supply and demand and the size of the ships. Daily hire rates are found by the interaction of the supply and demand of vessels. The supply is influence by market demand for shipping capacity, the efficiency and size of vessels and the rate of scrapping. The demand is influenced by the situation of the world economy, technological changes and trade patterns. There is a strong positive relationship between spot/time charter hire rates…

Applying Supply and Demand Concepts

The supply and demand simulation was a very helpful tool in understanding the effects of external factors on the supply and demand curves. Understanding this concept is fundamental in preparing for real life situations. I personally enjoyed the fact that the simulation was based on a real estate management company. I was able to understand and relate to the information given. There are a series of questions that will be answered and the topic of this paper will cover different concepts of micro and macroeconomics including; shifts in the supply and demand curves and its effect on the equilibrium price, quantity, and decision making. I will explain my understanding and applications of these concepts to my workplace. Finally, it will…

Price, Income and Cross Elasticity of Demand

Explain what is meant by the terms price elasticity, income elasticity and cross elasticity of demand and discuss the main determinants of each of these. Discuss the importance of each of these to the decision making process within a typical business. Elasticity is the responsiveness to which one variable responds to a change in another variable Price elasticity of demand (PED) measures the responsiveness of quantity demanded of a product to a change in its price. If a relatively small change in price leads to a relatively large change in demand, the product is said to be ‘elastic’. Whereas if quantity demanded is relatively unresponsive to a change in price the product is said to be ‘inelastic’. Price elasticity of…

Resources in market and command economies

In a market economy, decisions on how resources are to be allocated are usually taken by millions of households and thousands of firms the exact number depends on the size of the economy. They interact as buyers and sellers in the market for goods and services. The government has a very restricted part to play. However, in a Command economy the government has a central role in all decisions that are made and unlike the market economy, the emphasis is on centralization. Decision making is taken by central planning boards and organizations to enterprises that are state-owned or under state regulation and control. Whereas in a market economy consumer sovereignty influences resource allocation, in a command economy it is central…

Petroliam Nasional Berhad

Overview Petroliam Nasional Berhad (Petronas) is Malaysia ‘s national petroleum company. Over the years, it has become a fully-integrated oil and gas corporation with operations in more than 30 countries worldwide. It is ranked among Fortune Global 500’s largest corporations in the world. The company delivered another record performance for the fiscal year ended March, 2008. Its strong and diversified base of upstream assets gives the company a significant competitive advantage. However, price escalations and increasing competition could lead to lower operational growth and market share for the company also suffering from supply and production disruptions in its operations. Strengths Robust Revenue Growth Petronas delivered a record revenue performance for the fiscal year ended March 2008. The company recorded highest-ever…