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Your report is an analysis and forecast of the microeconomic factors affecting the industry and firm. Use the theory developed in class, outside articles, and current and historical data on industry and firm activity - Essay Example

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This increase has been caused due to the rise of inflation. Two of the macroeconomic factors has been oil dependency and price elasticity. However, there microecomonic factors that have lead to the…
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Your report is an analysis and forecast of the microeconomic factors affecting the industry and firm. Use the theory developed in class, outside articles, and current and historical data on industry and firm activity
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Your report is an analysis and forecast of the microeconomic factors affecting the industry and firm. Use the theory developed in class, outside articles, and current and historical data on industry and firm activity

Download file to see previous pages... This paper will look at the historical data of the automobile industry and look at the microeconomic factors that are affecting the automobile industry.
The automobile industry is regarded as one of the biggest industries in the world. It is an industry that develops, manufactures, markets and sells motor vehicles on a global scale. Historically, John Cugnotin 1769 built the first car and it was very slow because it was powered by a steam engine. As technology advanced, Jean Joseph Lenior built the first one cylinder engine. This was later upgraded to the four cylinder engine by Nikolous August. Karl Benz, the co-founder of Mercedes Benz built the first automatic powered engine. In 1927, Henry Ford, a famous car company founder was able to design one of the worlds biggest car manufacture. The late 1990’ saw the manufacture of hybrid cars with the first commercial hybrid truck in 1910. Currently, there a numerous cars being manufactured, but this depends on the type of engine. The engine of a car can be compared to the heart of a human being. However, there are many types of engines. These include; v-type engines,flat engines, rotary engines, hybrid engines, in line engines and diesel engines. The v-type of engines are regarded as one of the most powerful type of engines. However, the most types of engines that most cars used is inline engines. In the modern society, th automobile industry has undergone numerous changes as cars have shifted from being large to luxurious. For example, American car manufactures are making cars smaller and installing and engines that has increased power and performance. Additionally, due to technological advancement car manufacturing and production has drastically improved as computer technology is being used to control cars. In terms of sales, the number of passenger cars is expected to hit a high of 72.2 million by the end of this year. United States and ...Download file to see next pagesRead More
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