ECONOMIC CONCEPT

PRO – Economics BUS1103 - HCT

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PRO – Economics BUS1103 - HCT

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Contents Introduction 2 Main concept and general characteristics of the firm 2 Current prices of some of the products 4 Product 1 5 Product 2 6 Analysis of the firm’s demand and supply 7
Consumer’s income identification and effect on product’s demand 7
Change in demand with respect to a competing product 7
Change in demand with respect to change in demographics 8
Change in supply with respect to change in technology 8
Effect on product with respect to change in number of competitors 9
The following are the main competitors of the company: 9
Effect on supply curve with change in cost of production 10
Change in supply and demand by other non-price determinants: 10 Analysis of the price elasticity of demand 11
Availability of close Substitutes 11
Passage of Time 11
Luxuries versus Necessities 11
Definition of the Market 11 References 13

Table of figures Figure 1 Founder, Adam Ashgar Ali 2 Figure 2 Musk Al Arab 15 Ml Oil Perfume Price Changes 5 Figure 3 Musk Al Arab Oil Perfume 5 Figure 4 Bakhoor Al Nabeel 40 Gm Price Changes 6 Figure 5 Bakhoor Al Nabeel 6 Figure 6 Changes With Consumer’s Income 7 Figure 7 Changes With Competing Product 7 Figure 8 Changes With Demographics 8 Figure 9 Changes With Technology 8 Figure 10 Changes With Competitors 9 Figure 11 Changes In Cost Of Production 10 Figure 12 Changes By Non-Price Determinants 10 Figure 13 Ped Of Bakhoor Al Nabeel, Elastic 12
Table of tables Table 1 Musk Al Arab Oil Perfume Price Change Past Two Years 5 Table 2 Bakhoor Al Nabeel Price Changes Past Two Years 6
Introduction
Figure 1 Founder, Adam Ashgar Ali
Figure 1 Founder, Adam Ashgar Ali
A Nabeel perfume is a perfume manufacturing company founded in 1969, headquartered in Sharjah Airport