Demand and Supply Analysis in Microeconomics

Understanding the Impact of Demand and Supply Analysis in Business

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 microeconomics concepts with reference to any business of your choice.

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).

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.

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.

Referencing and research requirements

Please reference your work according to the Harvard style as defined in Cite Them Right Online

This information is also available in book form: Pears, R. and Shields, G. (2019) Cite them right: the essential reference guide. 11th edn. Basingstoke: Palgrave Macmillan. Copies are available via the University library.

How your work will be assessed

Your work will be assessed on the extent to which it demonstrates your achievement of the stated learning outcomes for this assignment (see above) and against other key criteria as defined by your programme team.

See marking criteria grid provided below for how each element/task of the assessment will be marked and the corresponding weighting of marks for each element/task required.