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Demand and Supply

Demand and Supply

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Published by jithujosevet
demand and supply of 10 different products
demand and supply of 10 different products

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Published by: jithujosevet on Feb 21, 2010
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05/29/2013

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INDEX
CONTENTSPAGENUMBERINTRODUCTION2CONVENIENCE FOODS3PRODUCTS PURCHASED ON THEINTERNET4FILM AND CAMERAS5VIDEO RENTED FROM RETAIL OUTLETS6PAY-PER-VIEW-TELEVISIONPROGRAMMING7CRUDE OIL8HOTEL ROOMS9FAST FOOD OUTLETS IN EMERGINGMARKETS10CREDIT CARDS ISSUED BY FINANCIALINSTITUTIONS11LAPTOP COMPUTERS12REFERENCES13BIBLIOGRAPHY14
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INTRODUCTION
A market is a virtual place where buyers and sellers interact, and theyvary in the intensity of the competition that sellers and buyers face. Themarket equilibrium for a product depends on its demand and supply. The demand for a product is dependent on a number of factors like1)Price of the product: when the price of a product increases, thequantity demanded will fall.2)Consumer tastes3)The number and price of complementary goods4)Income and distribution of income5)Future price expectations The supply of a product is also dependent on a number of factors. Theyare
1)
Price of the product: when price of the product increases, thequantity supplied also increases.2)The costs of production3)The profitability of alternative products4)The profitability of goods in joint supply5)Nature and other unpredictable events6)The aims of producers7)Future price expectations8)The number of suppliersA change in the price of the product causes movement along thedemand/supply curve, while a change in any other factor brings about ashift in the curve. The amount of change in demand or supply will dependon the elasticity of the product.
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 This assignment will discuss the factors affecting the demand and supplyof some given products, for forecasting their demand and supply in thefuture.
DEMANDCONVENIENCE FOODS
Convenience foods have become an ineluctable thing of today’s hecticlives. The demand for convenience foods is increasing day by day. Today,most people are migrating to urban areas, wherein because of thedemanding and busy life schedule, people prefer to spend only a verylittle time on cooking. Longer working hours, more women entering thework force and more single people living alone are some factors whichcontribute to the increased demand for convenience foods.Nowadays women are no longer confined to their households, and thenumber of working women is increasing day by day. This trend is moremarked in developed countries, especially European countries. Of the totalworkforce of UK, about 29% was contributed by women at the beginningof 20
th
century. But it increased to 46% by 2000, and it is estimated thatby 2010 one in five UK workers will be mothers (Microsoft, 2007). It is themain reason for the increased demand of frozen food in Europe. Europe isthe largest market for frozen food contributing 38.6% of global value. Theready meals market contributed about $52.4 billion in 2007 throughoutthe world, which was 3.5% higher than that of the previous year.Whereas, the ready meal market in UK is growing at an average annualrate of 5.3% which is very high when compared to the global average of 3.5% (Research and Markets, 2008).With the working population increasing every year, the demand forconvenience foods will be soaring in the coming years. It is expected thatthe ready meals market will contribute about $61.7 billion in 2012, which
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