ME.docx - 1 Student Name Shamaila Javed ID No:L0253MHEMHE1015 Programme BA Semester Two Lecturer Name:Ellie Semsar Module Title Managerial Economics

ME.docx - 1 Student Name Shamaila Javed ID...

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1 Student Name: Shamaila Javed ID No:L0253MHEMHE1015 Programme: BA Semester: Two Lecturer Name :Ellie Semsar Module Title: Managerial Economics Cardiff Metropolitan University
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2 Contents Executive Summar ............................................................................................................................................................. 4 Introduction ......................................................................................................................................... 8 Price. .................................................................................................................................................... 8 Factors that determines prices in market………………………………………………………………………………………11 Demand and supply Forces…………………………………………………………………………………………………………….12 Falling prices of mobile phones………………………………………………………………………………………………………14 Conclusion……………………………………………………………………………………………………………………………………..14 Refrences…………………………………………………………………………………………………………………………………………15
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3 Examine the factors that determine the price of mobile phones in the UK.Examine the reasons behind price of mobile phones falling even in the face of increasing demand. Executive Summary This report is about the factors that determine prices in market.Demand and supply Factors will discuss in detail.Then it will discuss the falling prices of mobile phones in UK market. Introduction This report shows that how factors influence the market of mobile phones in UK.Mobile companies are working in a perfect competition and so many other maket forces sets the price of mobile phones.This study will focus on the two main forces i-e demand and supply which determines the price of a product.Prices fluctuates according to demand and supply of a particular product.Mobile phones have same low prices in market because of increasing no of producers in market at high level of demand Price Price is a value of that product which consumers wants to buy.In commerce,price is determined by following factors A buyer is willing to pay A seller is willing to accept Market competition allowing to be charged for a particular product/service. The two main components of a market that determines the price of a product i-e demand and supply. The Law of Demand states that consumers will purchase higher quantity of a product in case of low prices. Similarly they purchase smaller quantity when prices increase in the market. On the other hand Law of Supply states that marketers will offer larger quantity in case of high prices, likewise smaller quantity offered in case of low prices. So, there is a positive relationship between quantity supplied and price.
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4 Following are the factors that determines price of a product in market.
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