Business and Managerial Economics Essay Example
Assignment Business and Managerial Economics
Teacher: Ellie Semsar
Student Name: Robiul Islam
Student ID: B0261DADA0410
Personal computers are very imperative in the current world of nowadays. Today, PCs hold fabulous consequence. Several numbers of us will be thrilled without a computer, as it becomes a part and parcel of our daily life. Computer becomes a significant tool for keeping archives. For computer data analysis become tremendously easy and we can do it now in a single mouse click.
Now-a-days though the demand of personal computer is increasing rapidly but it price also falling day by day. There are some particular reasons of it, what is given underneath: * Production cost * Price inflation * Perfect competition market structure * Technological improvement * M-commerce * Inelasticity of product
Though, we can think that demand of the personal computer is going up day by day for its effectiveness. There is also a close relationship between population and demand in economics. Because, as the factor of demand we know that, if population goes up demand also go up.
Population↑ = Demand↑
If population increase from P1 to P2 demand also increases from D1 to D2.
Production cost of computer: now most of the computer manufacturing companies don’t have big stores everywhere. Most of them are now selling their product by the website. They are selling computer by taking order at website. For that reason they don’t need rent a show room or a place to make a store. Before, all the companies used to have lots of employers to attach the computer products. But now everything is doing robot. So, the manufacturers don’t have to spend a huge budget for the employees. This reasons cut down huge amount of production cost. So, if they want they can also minimise the profit they earn each year. In economics we know that if the production cost rise supply goes down. But, if manufacturing cost like land, labour,
Teacher: Ellie Semsar
Student Name: Robiul Islam
Student ID: B0261DADA0410
Personal computers are very imperative in the current world of nowadays. Today, PCs hold fabulous consequence. Several numbers of us will be thrilled without a computer, as it becomes a part and parcel of our daily life. Computer becomes a significant tool for keeping archives. For computer data analysis become tremendously easy and we can do it now in a single mouse click.
Now-a-days though the demand of personal computer is increasing rapidly but it price also falling day by day. There are some particular reasons of it, what is given underneath: * Production cost * Price inflation * Perfect competition market structure * Technological improvement * M-commerce * Inelasticity of product
Though, we can think that demand of the personal computer is going up day by day for its effectiveness. There is also a close relationship between population and demand in economics. Because, as the factor of demand we know that, if population goes up demand also go up.
Population↑ = Demand↑
If population increase from P1 to P2 demand also increases from D1 to D2.
Production cost of computer: now most of the computer manufacturing companies don’t have big stores everywhere. Most of them are now selling their product by the website. They are selling computer by taking order at website. For that reason they don’t need rent a show room or a place to make a store. Before, all the companies used to have lots of employers to attach the computer products. But now everything is doing robot. So, the manufacturers don’t have to spend a huge budget for the employees. This reasons cut down huge amount of production cost. So, if they want they can also minimise the profit they earn each year. In economics we know that if the production cost rise supply goes down. But, if manufacturing cost like land, labour,