Business Economics: Factors Influencing Demand - Assignment Example

By air: factors influencing the relative attractiveness of air travel are: price of air travel, relative total time taken to get from “door to door”, and of quality air transport services.... By bus: factors influencing the relative attractiveness of bus travel are: price of bus tickets, time taken by buses, and the quality of bus services.... In economics, demand refers to the amount of a good or service that a consumer or a group of consumers have the desire to purchase, have the ability to pay for, and are willing to pay for – during a particular period of time....

The paper "factors influencing the Volatility of Agricultural Commodity Prices" discusses that economists agree that commodities experience substantial volatility in prices resulting in uncertainty and risks in products supply, buying decisions and investment.... This shift is attributable to high supply (technological advancement) and low demand (mainly through substitute products, such as natural rubber replaced with synthetic rubber).... Key drivers outlined behind the high price volatility include a shift in agricultural production and trade attributed to physical aspects of the production affecting the supply aspects, second, shifts in microeconomic conditions and their impacts affecting demand and supply aspects....

Micro-economic environment is more popular among industries which involves influencing of choice through interaction.... The author of this assignment "economics for Business" casts light on financial issues in business.... As the text has it, the micro-economic environment is important for business organizations for it advocates the adoption of various means to reduce problems related to scarcity.... The micro-economic environment is helpful for predicting future effects of the business, implementation of policies related to price, wage, labor, controls on income and expenditure and regulations related to market competition....

The paper "demand and Supply of British Domestic House Building" discusses the implications of major determinants of demand and supply to British domestic house building.... increasing demand for houses, a lesser number of buyers, buyers not connected, lack of information, and others.... It also discusses various factors like economic, social, legal, and environmental which affect the industry....

It is geared toward seeing how demand and supply, and other factors affect commodity prices in an economy.... The policy is key in influencing the spending of consumer and Aggregate demand (AD).... The federal funds' rate is set by the central bank, consequently influencing the rates for consumer and business accounts for savings and loan.... Under microeconomics, factors such as government regulations and taxes apply.... These decisions heavily rely on macro-level economic data, factors such as real estate trends, rates of inflation, patterns of economic growth and home values are indicators that are commonly used....

This paper critically evaluates the factors impacting demand for passenger traffic and proposes that globalization and changing consumer behavior has pressed the need for airlines to become consumer-centric in implementing customer relationship management as part of the growth strategy.... Whilst the current economic downturn clearly impacts passenger traffic demands faced by airlines; the airline industry reports suggest a consistent decline in passenger traffic in the past ten years However, this has to be balanced against airport costs for airlines along with the location of hub and gateway airports, which clearly impact passenger traffic demand....

The stimulator of regional competitiveness, alongside preconditions, are the positive agglomeration effects created by industries operating in a certain area, hence influencing both the industries and their associates.... Porter's diamond model elucidates the variations in 'national business systems,' as well as 'comparative economic performance' for different nations, and to what extent other approaches and ideas will be obligatory (Porter, 1990, pp.... Through this model, the paper explains the characteristics and performances of diverse business systems of such major economies....

Businesses combine various factors of production to increase their profitability.... Labor includes people who are able to work, and enterprise or entrepreneurship combines all these factors of production.... As a pricing tool in economics, cost structures highlight the areas within the production stages and costs associated with them (Velupillai, 2006, 362).... The paper 'business Cost Structures' is a potent variant of essay on macro & microeconomics....