Task 1:
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 analyze 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 the demand curve
- Explain the law of Supply, movement along the same supply curve (with the aid of diagram), and changes in the supply curve
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
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 program team.
See the 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.
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