Assignment Task :
- Demand and Supply analysis are fundamental to any business thus every business must understand its impact and dynamics. Demand and Supply analysis therefore underlines to some extent the growth and success of most businesses in our society today.
- Critically analysed the following micro economics concepts with reference to any business of your choice.
1.1 Explain the law of Demand, movement along the same demand curve (with the aid of diagram) and changes in demand curve (with the aid of diagram).
1.2 Explain the law of Supply, movement along the same supply curve (with the aid of diagram) and changes in supply curve (with the aid of diagram).
TASK 2 –
- Compare and contrast emerging theories and models in 21st century contemporary economics with those of the 20th century, and relate both of these to modern business practices.
- General coherence of the assignment, introduction, presentation, conclusion and referencing.
This assignment has been designed to provide you with an opportunity to demonstrate your achievement of the following module learning outcomes:
LO 1 Critically evaluate the alternative theories of economics and their implications for business, including traditional economic approaches and also more contemporary approaches relating to behavioural economics.
LO 2 Critically assess concepts and principles underlining business activity.
LO 3 Apply the appropriate models and techniques for analysing the environment within which business organisations operate.