Assignment:
Introduction
In the first paper (this one) you will select the firm about which you will write. There are no specific requirements for the firm you select, but it is recommended that you follow two general guidelines. First, select a firm in which you have particular interest. This will add interest to the papers and if you have interest and knowledge in the firm already, you will not need to do much extra research. Though, if you do use outside references (which are not required), you will still need to include references. Second, please avoid the big, "obvious" companies-Apple, Nike, Facebook, and the like. Your instructor has the final say in accepting your selection. Also, it would be best (and easier for you) to pick a firm that produces its own good or service, rather than a reseller like a grocery store or a retailer. This is just a strong suggestion rather than a prohibition.
There should be no problem applying the concepts from the chapters to almost any firm you would select in most, if not all, papers. If there is a paperin which it is foreseeable that there could be issues for several selections, a note has been made in the assignment with instructions about what to do if you are in that position. If you think you have an issue with the paper in any other assignment, please consult with me.
In this paper, you will apply what you have learned to the firm or business you selected in order to see how the concepts can be applied to a business situation.
Keep in mind that throughout this course, papers are intended to bring real-world situations to the course material that we are covering. Part of your grade will depend on the connections you make between your chosen firm (which could include the economic environment of your chosen firm, the markets in which your chosen firm interacts with outside actors, the decisions your chosen firm makes, etc., depending on the particular question) and the material from the chapters we covered.
Activity Instructions
For the particular firm or business you selected, explain how the demand for the firm's product affects its choices regarding how much it can sell and the price that it can set for the goods it produces.
What could cause the demand for your business' products to increase or decrease? Choose a couple of events that could affect the demand for the firm's product and describe them. What effect would this have on the demand for the firm's products and for the firm's profitability? How would the firm react (what decisions would it possibly make) if those events occurred?
Are there any ways the firm can increase the demand for its products? What could the firm do, and why might a firm do those things? Do you see evidence that the firm you chose is doing those things?
Writing Requirements (APA format)
- 1.5 to 2 pages (approx. 300 words per page), not including title page or references page
- 1-inch margins
- Double spaced
- 12-point Times New Roman font
- Title page with topic and name of student