You would like to open a new business. You need to examine its profitability.
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Project Deliverable1 (15%)
IDEA: You would like to open a new business. You need to examine its profitability.
In the first deliverable students should select business in which they would be willing to invest in.
Students know, that demand and supply are the primary factors governing any market. Hence, it is relevant to look into the demand-supply scenario.
Semester: Spring 2022/2023 – Course Code/Section: Econ251 – Date:
The below points should be covered by narrative :
Provide basic information about the selected country (CIA worldfact book):
– Geography: location (region), list of neighboring countries, etc
– Demography: analyze demographic characteristics of the country, population, age and gender structure.
Economy: is country classified as developed / economy in transition / developing economy. Is it classified as low-income / middle income / high-income economy, and provide supporting data.
Organization: institutional organization of the country (existence of antitrust law, consumer protection law, etc.)
2. Provide specific information about the industry you would like to invest in:
– Market size, potential clients of the industry, number of companies (competitors). Provide basic information about companies in each selected industry.
– Are there any related industries that would affect your business. Discuss the factors that affect demand and supply of selected business.
3. Provide specific information about the company you would like to create (students should cover the below points by narrative where they will use terms and concepts from the classes):
– What kind of products/services company is producing.
– How do they differentiate it,
– Does company produce durable or non-durable, perishable or non-perishable, normal or inferior, necessity or luxury goods)
– Discuss what is the price elasticity of demand for different products that company is producing, is it elastic or inelastic, why?
– Who are the main competitors (number and names of companies producing the same/similar products,)
– Are there any threats to the company? Analyze different scenarios, what would happen if income in the county goes up/down, what would happen in prices of substitute/complement goods go up/down.
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