Task: Discuss supply and demand as well as elasticity concepts of Walmart. Incorporate these concepts to validate how the company establishes its pricing strategy. Analyze the company based on the following points:
Question 1: Provide a brief introduction Walmart: corporate office location, years in business, revenue, areas and number of worldwide locations.
Question 2: List the utility of products and/or services that Wamart provides to the consumers.
Question 3: Identify and enumerate the factors affecting supply, demand and price for the products and/or services of Walmart.
Question 4: Examine whether demand for that products and/or services is relatively price elastic or relatively price inelastic and explain why?
Question 5: Suggest initiatives to improve revenue of the selected company based on your analysis. Prepare a report of 750-1,000 words. Use the points mentioned above to analyze Walmart.