Nobody downloaded yet

ECON100- Business Economics and the New Zealand Economy - Assignment Example

Comments (0) Cite this document
The earthquake will shift the demand from Christchurch to Auckland thus increasing the demand for houses in Auckland. The presence of earthquake occurrences will affect demand even if the supply rises…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95% of users find it useful
ECON100- Business Economics and the New Zealand Economy
Read TextPreview

Extract of sample "ECON100- Business Economics and the New Zealand Economy"

Download file to see previous pages (b) Expenditure is a product of price and quantity. It possible for total expenditure on houses overall in Auckland to rise compared with expenditure on the earthquake reconstruction. This is because the demand (quantity) of houses sold will increase considerably as supply also is boosted. The reconstruction will reduce this increase since some people will be forced to go back to Christchurch due to work or other issues. The argument is based on principle of elasticity of supply and demand. The increase in demand and supply of houses in Auckland is the degree of responsiveness in relation to changes in price.
I am the only T-shirts seller (supply low), revenue demand high and the potential customer identify am the only one with the T-shirt (demand high). According to the price elasticity of demand, the price is charged based on the change in quantity demand divided the percentage of change in the price demanded. Therefore, in this scenario the price will be relatively high due to high demand, low supply and profit margin requirements. The superior the price elasticity, the nearer a trader should price their products to competitive products and likewise. From the concept of price elasticity, having a pricing objective is not sufficient. There are other myriad factors considered prior to setting its prices, the customer may buy once and never come back. These factors comprise the demand, the offering’s costs, and the customers target needs. In addition, other factors such as the external environment including competition, the economy, and regulations. Other perspectives of the marketing mix include the nature of the offering, its promotion and distribution. Price elasticity makes individual sensitivity to price alterations, interferes with the demand for the good. The decision to come up with the price is based on how consumer will respond to prices suggestions.
i) In this consumption today and consumption in the future ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“ECON100- Business Economics and the New Zealand Economy Assignment”, n.d.)
ECON100- Business Economics and the New Zealand Economy Assignment. Retrieved from
(ECON100- Business Economics and the New Zealand Economy Assignment)
ECON100- Business Economics and the New Zealand Economy Assignment.
“ECON100- Business Economics and the New Zealand Economy Assignment”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF ECON100- Business Economics and the New Zealand Economy

New Zealand accounting standards

...?NEW ZEALAND ACCOUNTING STANDARDS PART A ANSWER International Accounting Standards Board (IASB) conducts public meetings or webcasts to ensure transparency in order to produce new or updated financial reporting standards. This procedure has been adopted to ensure transparency and to involve the opinion of the public. The procedure ensures constant engagement with the stakeholders like investors, analysts, regulators, business leaders, accounting standard-setters and the professional accountants and auditors at national and international levels (Smart, Bourke, & Awan, 2008). ANSWER 2a: External Reporting Board (XRB) is an independent crown entity developed under section 22...
6 Pages(1500 words)Assignment

New Zealand Tourism

...? New Zealand Tourism Table of Contents Summary 3 Target market segments and stakeholders 3 Role played by social marketing elements 6 Recommendations- Strategic Marketing 7 Impact of the strategies 8 Reference 9 Summary The project seeks to present the concepts of social marketing which can be used by the tourism authorities in New Zealand for improving tourism sector of the region. The aim is to attain a two way communication process between the general public and the authorities. For this purpose the project makes an analysis of the stakeholders and the market segments in the region. It is identified that some of the economically advanced nations of...
5 Pages(1250 words)Essay

Adventures in New Zealand

...? Adventures in New Zealand Maori are the indigenous people of New Zealand who infiltrated the country between 900 and 1400 A.D. Before the penetration of the European influence and western culture they thrived in isolation for several centuries with their own culture and tradition. Maori were tribal societies (iwi) ruled by chiefly rulers who were thought to be descendants of gods. The European and the western influence first injected into their society in 1642. Briton James Cook, a British explorer established harmonious relation with them. By the 1800s emerging concept of colonization made frequent visits of European ships into New...
4 Pages(1000 words)Essay

New Zealand Economy vulnerable to economic performance in the market. Financial markets are an important passage way in which New Zealand’s business cycle is influenced by the United States economies (IMF 3). Robert Reich of Labor Party brought New Zealand to foresee the twenty-first century deficit of national products, corporations and industries. For many years, New Zealand`s economy was built on “free markets” and “free trade”, and investment seemed invincible (Kelsey 1).The enthusiasts wanted to advance the process more swiftly, but critics came up with ways to mitigate the...
7 Pages(1750 words)Essay

New Zealand Film History

... in the promotion of economic advancement of the nation. Their creativity will be greatly impeded. By fostering cultural diversity, by allowing artists especially filmmakers to express themselves using diverse cultural values and by allowing all cultural traditions to be freely passed unto the next generations, and by unblocking the main arteries for cultural expression in the cinema, the arts, media and other avenues, the national identity can be made to be shown for posterity in such art forms as the cinema, the television, magazines etc. in any language that the artist seems fit for his own expression's sake. Since we have established the national cultural identity of New Zealand, then the "well from which filmmakers draw... National...
8 Pages(2000 words)Essay

The Vodafone New Zealand

...) “Nokia supports Vodafone 3G HSDPA launch in New Zealand”-10th Oct 2006 4) “Vodafone plays the video calling card.”-Jenny Keown, 25th November 2006. 5) “Mobile data prices slashed”-Paul Brislen,21st Dec 2004. 6) “Clemenger crosses the line to Vodafone”-John Drinnan,27th April 2007. 7) “Vodafone says no plans to sell Australian, New Zealand business.”-18th May...
2 Pages(500 words)Essay

Journey to New Zealand

..., tradition, customs, and many places of my interest. I went ahead passing roads, trees, people, mountains, rivers and many other amazing things. I landed in New Zealand getting residence visa there. I got the help of a local agency who guided me from airport shuttle transfer to finding a standard accommodation at reasonable price. I had been residing there for my new settlement after my mother land. New Zealand was full of myriad attractions which brought a constant delight in the curious eyes. I dived my soul in pulling the fascination through visiting the towns of the Bay of Islands in the north to Dunedin in the south. My moments were flying on the...
3 Pages(750 words)Personal Statement

Doing Business in New Zealand

...Doing Business in New Zealand This report illustrates the legal norms and political risks associated with running business in the current New Zealand food industry. The growing healthcare concerns, governmental attitude, and economic stability have become the important factors that determine the business consistency in New Zealand. At this juncture, introducing a new nutrition bar into the market requires a detailed study of the relevant regulations and political risks. Political Risks: Though recovering fast, the economic downturn and...
2 Pages(500 words)Essay

New Zealand Politics

...New Zealand Politics Introduction The New Zealand politics compared to numerous s or regions’ politics present an extremely odd trend. The campaigns for the general elections expected to occur in September are currently in a twilight zone. Recently, a candidate was heard campaigning against an opponent. This was very strange but with the elections around the corner, the politicians will actually do anything to gain a few votes here and there. The Labour party is in an awkward position because of the shifty nature of its leaders. Based on Lees-Marshment (2009), “The field of marketing politics is a phenomena that is growing very fast” (Lees-Marshment, 2009, p. 457). There...
6 Pages(1500 words)Essay

International Economics between New Zealand and Morocco

...International Economics between New Zealand and Morocco: The structure of Trade of New Zealand majorly entails the exchange of product goods rather than physical products. The international trade is based on the import and export between the country’s residents and the non-residents. The residents include the subsidiaries and branches of the foreign enterprises while the non-residents normally domiciled in the country away from New Zealand. They include the foreign branches and the subsidiaries enterprises. The structure of trade in the country is divided into travel, insurance services, communication services, and also...
3 Pages(750 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic ECON100- Business Economics and the New Zealand Economy for FREE!

Contact Us