Demand and Supply Analysis: Micro Economic Concepts and Modern Business Practices

The Law of Demand and Supply with Diagrams

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). 30 marks

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). 30 marks

Task 2 40% (1000 words)

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. 30 marks

•General coherence of the assignment, introduction, presentation, conclusion and referencing. 10 marks

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.

Task requirements

• Written work must be word-processed and should state the number of total words used at the end. 

• All work to be submitted as Arial 12 font with 1.5-line spacing. 

• All writing should be in the third person passive.

• All work should be correctly referenced

• No collaboration is allowed.

 1. This assignment must be submitted electronically by 2pm on the submission date

2. To submit electronically you must upload your work to the e-submission area within the Blackboard module concerned. Click Submit> Browse (find the correct file to upload) Upload> Submit

3. You can resubmit your work as many times as you like until the deadline. If you choose to resubmit, your earlier submission will be replaced, and you will not  receive an Originality Report until 24 hours from when the submission was made.

4. You will receive a digital receipt as proof of submission. This will be sent to your Bucks e-mail address; please keep this for reference. (make sure you have e mail forwarding http://bucks.ac.uk/forward so that you receive this e mail proof)

5. You are reminded of the University’s regulations on cheating and plagiarism. In submitting your assignment, you are acknowledging that you have read and understood these regulations.

6. Anything submitted after the deadline will not be marked.

7. You are reminded that it is your responsibility to keep an electronic copy of your assignment for future reference.

• You are reminded of the University’s regulations on academic misconduct, which can be viewed on the University website: https://bucks.ac.uk/__data/assets/pdf_file/0024/9546/Academic-Misconduct-Policy.pdf. In submitting your assignment, you are acknowledging that you have read and understood these regulations

• Please also note that work that is submitted up to 10 working days beyond the submission date will be considered a late submission. Late submissions will be marked and the actual mark recorded, but will be capped at the pass mark (typically 40%), provided that the work is of a passing standard. Work submitted after this period will not be marked and will be treated as a non-submission.

• Please use the provided checklist below to make sure you are ‘fit to submit’ your work

• We recommend you use this checklist as soon as you get this assignment brief to help you plan your work

 1. Read through the assignment brief carefully taking note of key words.

2. Produce both a cover page and a contents list. Ensure pages are numbered.

3. Produce good paragraphs of Introduction and Conclusion.

4. Use short sentences, avoiding jargon and verbosity.

5. All research material should be referenced to their sources as failure to do so implies plagiarism.

6. do not copy  material from another student, as BOTH assignments will be disqualified.