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I am study hospitality and the product of this assessment is about shopping malls which are located under hotels.

Economic Analysis - Some suggested areas

Microeconomic tools

• What contributes to changes in demand for your product?

• What contributes to changes in supply for your product?

• What is the recent product price history and how does that reflect recent changes in demand and supply?

• Is your product elastic or inelastic in nature and what implication does this have on increasing revenue?

• Is your product a normal, inferior or luxury good based on its sensitivity to changes in income?

• What are some of the substitutes and complements of your product and how do they influence your product demand?

• How do the four factors of production, namely, Land, Labour, Capital and Entrepreneurial skillscontribute to the change in value of your product?

• How do changes in costs impact on the price and quantity of your product?

Macroeconomic tools

• How dochanges in economic activity as measured by real GDP affect your product?

• How do changes in unemployment affect your product?

• How do changes in inflation affect your product?

Managing your product in a recession

How do you manage your product in an upcoming recession in terms of shifting the demand curve of your product to the right through non-price factors?Connect all above tools for analysis.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91699603
  • Price:- $75

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