You are a group of advisor’s to the Management Board in your company.
In determining the company’s strategy in the next 5 years, your managers have required you to
prepare a 2,500 word market report. The market report should, as a minimum, address the following
key issues:
- A description of your company and the industry your company is in, including:
An overview of the company.
An overview of the industry (including some key statistics such as revenue,
employment, the industry’s contribution to national GDP, and industry growth rate). - An analysis of the market structure the industry is in, including:
The type of market structure it is in and why (based on the characteristics of the
industry).
The market leaders in the industry and some statistics about them. - A discussion about (i) two determinants of demand, and (ii) two determinants of supply for
your product(s) or service(s) that you consider to be the most influential. - A discussion about the demand elasticity for your product(s) or service(s) which answers the
following questions:
Is your product(s) or service(s) elastic or inelastic? Why?
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HI5003 Economics for Business
What are two factors that you consider affect the elasticity of demand for your
product (or line of product
Sample Solution