Business Management W1 Discussion
Choose a product that you think illustrates the principles of supply
and demand. It could be something like a Lamborghini that has a
very limited supply and a great demand that makes it expensive. Or
it could be something like a calculator that used to be very
expensive but has become cheap because of trends in technology.
Give a
ief overview of the company that makes the product. If the
product is made by multiple companies, just choose one of them.
Respond to the following:
• What does the company make?
• What value does this product provide to consumers? Why do
they buy it?
• Explain how the product can illustrate the law of supply and
demand.
• Which of the following six external forces in the readings do
you think most affects the balance of supply and demand?
Describe the effect it has. (For example, the technological
environment made the chips in calculators cheap, and the low
price increased demand.)
â—¦ economic environment;
â—¦ legal environment;
â—¦ competitive environment;
â—¦ technological environment;
â—¦ social environment; and
â—¦ global environment.
Make sure that you post your substantive initial posting no later than
Saturday this week, and be sure to use outside support for your
posting. This should be from reliable sources (other than the text
ook), and you need to reference the sources using proper APA
Version 7 formatting.
In addition to your initial posting, you need to respond to at least
three classmates' initial posts to provide comments, insights, or
questions that further the discussion. Your responses need to be
substantive, and should move the discussions forward.
*****( I will send you classmates response)******