ESSAY INSTRUCTIONS ON ECONOMIC FRAMEWORK OF BUSINESS ASSIGNMENT

ECONOMIC FRAMEWORK OF BUSINESS

ASSIGNMENT


You need to understanding of the impact of economic forces on the market position and financial performance of the company. This assignment is intended to reinforce your knowledge in this area.

Your are required to:

1. Find an example of the economic company in United Kingdom 2 or 3 companies (or some companies within a sector) of the product (s) or service(s) that they provide- use newspaper, local or web search.

2. Identify the important economic factors that affect the performance of that company.

3.Identify, if possible the approach the company takes to pricing – try to identify if this is ` market base with price closely related to that of its competitors, ˜cost based with profit margin, or related to stage in the product life cycle or some combination of these.

4. Try to link the economic performance factors that you have identified above to the pricing approach you have described.

5. Try to provide an explication which include a numerical illustration [ you can assume some suitable numbers if no detailed data available] that reflects / applies the price elasticity of demand concept.

6.Try to make a judgement as to whether the pricing approach really benefits the consumer, the company itself, or if there are issues of , say , tax or environmental concerns, the government.

7. Limit your response to between 1500 to 2000 words and don't be afraid to draw the odd diagram.

You should note that in grading your assignment response the following will be reflected in the mark you will receive:

*Quality of language, accuracy of spelling & grammar, presentation and layout.
*Bibliography appropriately referenced

*Definition and explanation of relevant economic terms and concepts

*Use of diagrams to illustrate your response

*Calculation of value of price elasticity
* Inclusion of relevant detailed practical example to develop depth of your answer
Research on www. Gov. Statistic.com ( Income level of consumer, interest rate, exchange rate or inflation

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