You are on page 1of 28

10/9/2020 Group 7.

pdf - Priya Bansal

Group 7.pdf
Oct 9, 2020
3625 words / 19043 characters

Priya Bansal

Group 7.pdf

Sources Overview

16%
OVERALL SIMILARITY

www.coursehero.com
1
INTERNET
3%
www.mbaskool.com
2
INTERNET
1%
www.its.leeds.ac.uk
3
INTERNET
1%
jim on 2020-10-09
4
SUBMITTED WORKS
1%
nsbm on 2020-09-04
5
SUBMITTED WORKS
<1%
University of East London on 2020-06-15
6
SUBMITTED WORKS
<1%
www.enotes.com
7
INTERNET
<1%
University of She eld on 2020-08-14
8
SUBMITTED WORKS
<1%
Shinas College of Technology on 2019-03-26
9
SUBMITTED WORKS
<1%
jim on 2020-10-09
10
SUBMITTED WORKS
<1%
jim on 2020-09-19
11
SUBMITTED WORKS
<1%
Top Education Institute on 2020-06-09
12
SUBMITTED WORKS
<1%
Billy Blue Group on 2017-10-13
13
SUBMITTED WORKS
<1%
University of She eld on 2013-11-20
14
SUBMITTED WORKS
<1%
Waterford Institute of Technology on 2013-11-20
15
SUBMITTED WORKS
<1%
essex on 2019-10-11
16
SUBMITTED WORKS
<1%

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 1/28
10/9/2020 Group 7.pdf - Priya Bansal

Buckinghamshire Chilterns University College on 2016-08-16


17
SUBMITTED WORKS
<1%
Higher Education Commission Pakistan on 2015-05-14
18
SUBMITTED WORKS
<1%
Kaplan University on 2020-08-18
19
SUBMITTED WORKS
<1%
University of Hull on 2018-11-21
20
SUBMITTED WORKS
<1%
University of Newcastle upon Tyne on 2012-07-14
21
SUBMITTED WORKS
<1%
(school name not available) on 2006-09-01
22
SUBMITTED WORKS
<1%
CTI Education Group on 2016-04-14
23
SUBMITTED WORKS
<1%
University of Salford on 2012-03-07
24
SUBMITTED WORKS
<1%
Westcliff University on 2020-09-12
25
SUBMITTED WORKS
<1%
jim on 2020-09-18
26
SUBMITTED WORKS
<1%
jim on 2020-09-19
27
SUBMITTED WORKS
<1%
wbhs on 2020-09-13
28
SUBMITTED WORKS
<1%

Note: Exclusion settings have been changed for this report.

Excluded search repositories:


None

Excluded from Similarity Report:


Bibliography
Quotes

Excluded sources:
jim on 2020-10-08, submitted works, 84%
jim on 2020-10-08, submitted works, 14%
jim on 2020-10-08, submitted works, 14%

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 2/28
10/9/2020 Group 7.pdf - Priya Bansal

MANAGERIAL ECONOMICS

Project On

BUSINESS ANALYSIS

26
POST GRADUATE DIPLOMA IN MANAGEMENT
(Batch 2020-22, Term-I )

10
JAIPURIA INSTITUTE OF MANAGEMENT
A-32 A, Sector 62, Institutional Area, Noida- 201309 (U.P.)
October, 2020

SUBMITTED TO: SUBMITTED BY:


Dr. Ritika Gugnani PGDM (G) - SectionC
PhD, M.B.A, M.A (Eco) Group 7
11
Associate Professor Dev Srivastava (PGFC2018)
Divanshi Bist (PGFC2019)
Priya Bansal (PGFC2035)
Shivangi Batra (PGFC2044)
Tanya Sachdeva (PGFC2054)

5
1 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 3/28
10/9/2020 Group 7.pdf - Priya Bansal

KALA MANDIR
&
KALA NIKETAN

2 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 4/28
10/9/2020 Group 7.pdf - Priya Bansal

CONTRIBUTIONS
Dev Srivastava
Things that I learned from this project are as follows-
1)How businesses compete in monopolistic market structure.
2)What all are the factors that affect the monopolistic competition market.
3)How during this Pandemic, Mr. Batra handled the situation and managed his finances keeping
in mind about the lower-class employees.

Divanshi Bist
My contribution toward the project not only include researching but also compiling the
assignment together, and adding index to the assignment.
Which made me learn about how the business produces its products and services, the fixed input
factor in the business and in which part the fixed items quantity are not changes for short amount
of time and also what are the variable inputs

Priya Bansal
Contributions include:
Studying the different type of elasticities of the business
Impact of change in quantity demanded and price on total revenue of the business
Adding various pictures of the business
Formatting of the combined document

Shivangi Batra
Contribution include:
Conducting interview with the owner of the business
Questions asked includes - type of the business, competitors, expertise of the company,
company’s weaknesses, comparison with competitors – how are the products differentiated and
similar.

Tanya Sachdeva
My contribution in the project relates to researching about - 1.the expenses incurred by the
business and its affects. 2. How is the business different from the competitors, study the current
scenario affecting the business situation. I had a word with the owner regarding this and he was
able to tell me about how they are dealing with work after reopening of market, what strategies
they plan to follow and what they implemented.3.My last question was to enquire him about the
number of employees they have and how he dealt with their salary part during lockdown
situation. I learnt many things about clothing business via this project and how we can relate it
all with the economy, how you need to differentiate your product in order to remain in the
market, strategies to increase sales and how competitors affect your pricing.

3 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 5/28
10/9/2020 Group 7.pdf - Priya Bansal

ACKNOWLEDGEMENT

We would like to express our special thanks of gratitude to Dr. Ritika Gugnani who introduced

us with such an interesting subject which will not only help us in our course but also in our

future. We actually got a brief knowledge on why Managerial Economic is important for us.

1
We would also like to expand our deepest gratitude to all those who have directly and indirectly

guided us in writing this assignment.

By doing this assignment we got enriched with much information which can help us in our

future.

4 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 6/28
10/9/2020 Group 7.pdf - Priya Bansal

INDEX
1. Name of the Business, Product and Services..........................................6

1.1. Owner of the Business ................................................................ 6

1.2. Person Interviewed .....................................................................6

2. Input Used by the Business to Produce the Product or Service ........7


21
2.1. Fixed Inputs ..............................................................................9

2.2. Variable Inputs............................................................ .............10

3. Business Largest Expense per Month.................................................12

3.1. About the business employees .......................................................13


15
4. Elasticity of demand......................................................................15

4.1. Price elasticity...........................................................................15


23
4.2. Income elasticity........................................................................17

4.3. Cross elasticity..........................................................................18

5. Competitors...................................................................................20

5.1. Product differentiation From Competitors..........................................20

5.2. Monopolistic Competition.............................................................22

5.3. Company Expertise in .................................................................22

5.4. Company does not well ................................................................23

5.5. Comparison with competitors (Similar)..............................................23

5.6. Comparison with competitors (Different)............................................23

6. The pandemic.................................................................................24

7. Conclusion.....................................................................................25

8. Bibliography..................................................................................26

5 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 7/28
10/9/2020 Group 7.pdf - Priya Bansal

NAME OF THE BUSINESS, PRODUCT AND SERVICES

There are two outlets of the business in Gwalior (MP). Name of the first outlet is Kala Mandir

on which products like Readymade Dresses (Suits Sarees, Lehenga, Kurtis, Indo-western) are

available and the name of the second outlet is Kala Niketan on which Dress Material (Fabrics,

readymade blouses, cloth material, pants, leggings of different brands are available.

Owner of the Business

It is a Joint Hindu undivided family business in which well any person born into the family up to

three generations is a part of HUF. These members are the co-parceners. The head of such a

family business is karta who takes all the decisions and is responsible for the finances and the

business, the liability of the karta is unlimited but the liability of the co parceners is only up to

the share of the property or business. In this business there is one karta and 3 co-parceners.

Person Interviewed

The name of the person is Mr. Suresh Batra and he is the owner of the business. The Person

Interviewed is Mr. Suresh Batra and he is Shivangi Batra’s father.

6 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 8/28
10/9/2020 Group 7.pdf - Priya Bansal

INPUT USED BY THE BUSINESS TO PRODUCE THE PRODUCT

OR SERVICES

If the business doesn’t manufacture its own produce then it’s a Wholesaler and Retailer business.

They purchase the finished products from the manufacture and sell those to the customers. The

products have been received from the different cities such as Delhi, Surat, Jaipur, Banaras and

Indore. The material which they use for the products are:

▪ Different varieties of Cloth (Kancheepuram Silk, Banarasi Silk, Zari work, Handloom

Cloth, Khadi silk, Cotton Silk, Chicken work, Chiffon Saree etc.)

▪ the different types of threads used to make the product different

▪ ribbons work done by sew machines

▪ embroidery stones to make it more attractive

▪ Gota/Lace work for giving the finally touch to the saree, suits, Lehenga.

▪ Works which are designed by the designer for the miniskirts, shorts as well as dresses.

▪ Work saree fall stitching, Lehenga Hanging Pearl tassels.

7 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 9/28
10/9/2020 Group 7.pdf - Priya Bansal

8 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 10/28
10/9/2020 Group 7.pdf - Priya Bansal

FIXED INPUT

Fixed Input are those factors input whose quantity remains the same in the process of production.
18
These don’t vary with the volume of output. Their costs remain fixed even with the change in the

level of output or the sale of the business which include land, machinery and also the top

management. So, the business we have taken our based on the clothing wearing for women’s.

Under this business the fixed inputs are:

▪ Land was the business take place and all the activity related to that.

▪ Utilities which are been used by the business it cannot be vary whether its loss or profit

the bill we have to pay and they are fixed such as - Electricity bills, Meter charges, Water

bills

▪ Sewing Machine which are used by the business to sew the cloth.

▪ Insurance paid to the insure are also fixed in has to pay.

▪ Salaries to Tailors, workers working under the business, Salesmen how sale the cloths to

the customer, Accountant salary(billing), CA for looking after the records of the business

and also for the purpose of GST (Good Services Tax) and the salary of cashier for

collecting the cash on the daily purpose.


4
▪ Input for which the quantity used not be changed in a relatively short amount of time are

GST (Good Service Tax), Insurance which are fixed whether it has a loss or profit in the

business

9 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 11/28
10/9/2020 Group 7.pdf - Priya Bansal

VARIBALE INPUT

Variable Input are those factors which vary with the level of output or we can say the cost

which is directly related to the sale volume of the business. So, the businesses which we have

taken the variable input are:

▪ Raw material which are used by the business such as cloth material, various types of

decorative items etc.

▪ Charges such as Internet charges, shipping charges are the cost which is used to ship the

product to the buyer. So, that type of charges may vary.

▪ Sales commission

▪ Expenses such as Advertisement expenses, Travelling expenses

▪ Merchant Charges for Card Payments

▪ Petty Cash

4
Inputs could the quantity used was easy to change in a relatively short amount of time such as a

month Raw Material as due to the non-festive seasons are the major reason for reducing the

material as it depends upon the seasons so it may vary from one month to another. In the month

of “Sarad” and off seasons.

10 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 12/28
10/9/2020 Group 7.pdf - Priya Bansal

11 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 13/28
10/9/2020 Group 7.pdf - Priya Bansal

BUSINESS LARGEST EXPENSE PER MONTH

The biggest cost per month in any clothing company is raw material and dead stock. Because the

business relies mainly on factors such as fashion patterns, consumer tastes, prices of related
4
products, income(budget)-how much the customer is willing to spend, the number of customers

present in the market, seasonal shifts, etc., all this affects the demand of the business and thus

leads to an accumulation of raw materials and dead stock.

Since Mr. Batra is a well-known and old businessman on the market so some part of the dead

stock can be returned to the wholesaler {from where they bought the materials}as a part of

business dealing but also a large part of it remains unsold which are then sold to customers

during the sale season, which they mainly hold during off seasons {when demand falls in some

months like monsoon and other non-festive seasons}

Since Covid - 19 had affected every business across the world, Mr. Batra 's business was no

exception to this, the situation further led to a high amount of accumulated stock (approx.-4 to 5

lakhs is the amount) first, the lockdown is responsible for it, and second, as people stopped

shopping outside due to a pandemic, the situation worsened.

The trends of fancy dress {party wear and designer} have been replaced by more casual

everyday wear leading to a drop in demand, but now that all is re-opening and the festival season

is coming, they are preparing to supply their outstanding stocks at big discounted rates to clear

up for the upcoming Diwali and Indian wedding seasons.

12 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 14/28
10/9/2020 Group 7.pdf - Priya Bansal

ABOUT THE EMPLOYEES BUSINESS HAVE

Each business (kala Mandir and kala Niketan) consists of 15 employees; everyone resides in

Gwalior itself and are working with the owner since many years.

Mr. Batra told us that during pandemic a cartel was formed by all the businessmen in the area

where they decided certain rules for the present employees.

▪ 30%cut in salary in the months where shop opened for few days and no salary when it was

closed for more than a month unfortunately.

▪ Above the salary, sales commission will also be provided to support them.

▪ But with the exception that there will be no bribing to employees of other businesses

present in market in order to allure them to drop the current employer and work for the

another one{competitor}

13 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 15/28
10/9/2020 Group 7.pdf - Priya Bansal

14 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 16/28
10/9/2020 Group 7.pdf - Priya Bansal

ELASTICITY OF DEMAND
3
Elasticity is the measure of sensitivity of one variable to another. Specifically, it is a number that
3
tells us the percentage change and the relation (positive or negative) of one variable in response

to a unit percent change in another variable.


19
Elasticity of demand measures the sensitivity of customer’s demand for a product or service with
24
the change in price of the product, income of the customer or with the change in price of the

related product or services.

It can be measured in three different ways:

When we measure the percentage change in demand of a product with respect to per unit percent
7
change in the price of the same product, it is known as price elasticity of demand. When the
25
percent change in demand is measured with respect to the unit percentage change in the income
22
of the customers, it is called income elasticity of demand. And when we measure the percentage
7
change in demand of a product with respect to per unit percent change in the price of the related

product, it is known as cross - price elasticity.

The business being studied in this project is about fashion retail industry which deals with female

clothing. It is involved in selling of raw dress materials for ladies’ clothes and semi stitched

designer lehengas, Sarees and various other party wear and ethnic dresses.

17
PRICE ELASTICITY OF DEMAND

15 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 17/28
10/9/2020 Group 7.pdf - Priya Bansal

Price elasticity of demand plays a crucial role in business decision making. There are several
8
factors which affect the price elasticity of demand including availability of substitutes and the

percentage of consumer’s budget. There are five types of price elastic ties –
9
1. Perfectly Elastic, when |E|=∞;

2. Relatively Elastic, when |E|>1;

3. Unitary Elastic, when |E|=1;

4. Relatively Inelastic, when |E|<1;

5. Perfectly Inelastic, when |E|=0

Clothing retail industry has a lot of substitutes in the market. Huge amounts of discounts are

being offered by retailers to compete with other businesses and thus increase their total revenue

by selling large quantity of products. Clothing retail industry has an elastic demand curve. A

small decrease in price, which is generally seen in the form of discounts offered by retailers,

leads to customers buying more quantities of clothes. On the other hand, if the prices of the

products are increased by the retailers, the consumers will be easily able to find other retailers

16 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 18/28
10/9/2020 Group 7.pdf - Priya Bansal

28
(which act as substitutes) offering the same product at a lower price. Thus, small increase in

price would lead to a large reduction in the quantity demanded.


16
Another factor that affects the price elasticity of demand is the percentage of budget that a

consumer spends on clothing. If all other factors are kept equal or constant, the price elasticity is

observed to be directly related to the percentage of consumer’s budget spent on the goods.

According to a report by World Bank, in urban India, people spend about 5.8% of their budget

on clothing whereas in rural India, this figure is 6.2%. In rural India, the lifestyle of people is
27
changing with the increase in their incomes. Thus, the price elasticity of demand is more in rural

India as compared to urban India.

INCOME ELASTICITY

14
The raw dress materials, which is being sold at Kala Niketan is a, is a necessity good. The

increase in consumer’s income will lead to increase in demand but this change in demand would

be less as compared to the change in the price. This means, the demand for raw dress material is

elastic in nature.

Whereas, designer or fashion semi-stitched dresses and Sarees being sold at Kala Mandir is a

luxury good. If consumer’s income increases, people would easily spend on these luxury

17 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 19/28
10/9/2020 Group 7.pdf - Priya Bansal

8
clothing items and this will lead to an increase in demand. This shows that the demand for

designer or fashion semi-stitched dresses and Sarees is elastic in nature.

3
CROSS PRICE ELASTICITY

Cross price elasticity refers to the percent change in demand as the price of related products

changes. In this case, if the competitor retailers of Kala Mandir/Kala Niketan lower the price of

its products, the demand of the products being sold by Kala Mandir/Kala Niketan. This implies

that cross price elasticity will be positive in case of substitute goods.

Apart from these, few other factors which affect the quantity demanded are seasons and festivals.

Since Kala Niketan is involved in retail of designer clothes for various traditional festivals and

occasions, the demand is high during traditional Indian festivals like KarwaChauth, Diwali, and

Dussehra and also during the wedding season.

However, during winter season, non-wedding season and Shradh month, the quantity demanded

for various products decrease. To avoid incurring loss during these seasons, products are sold on

discount and in sale.

18 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 20/28
10/9/2020 Group 7.pdf - Priya Bansal

19 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 21/28
10/9/2020 Group 7.pdf - Priya Bansal

COMPETITION

The Business compete with the Big business dealers like

1. Aneja’s Mall

2. Awatram (Biggest Competition)

3. Vandana Sarees.

4. Batra’s Mall

PRODUCT DIFFERENTIATION FROM COMPETITORS

Due to monopolistic nature of the clothing business, imperfect competition exists and there are

many producers who sell similar products but no perfect substitute is present.
1
Hence there is freedom of entry and exit in markets but firm can differentiate the products and

inelastic demand curve determines the price. There are many competitors in the market therefore

Mr. Batra believes that product differentiation is the main key to remain different to push the sale

volumes, his knowledge and experience in the business aids to originality and distinction of

products.

▪ Wide price range of products {starts from 500 to 60,000rupess}

▪ Different Variety of clothes {from normal goods to luxurious ones}

▪ Better quality than others

▪ Provides home delivery of products

Above described are some of ways of how his clothing business differs from other competitors.

The business that we have taken deals in, women ready-made clothing and falls under Hindu

Undivided Family. The market structure here in our case is Monopolistic competition as they are

competing with other players in the market of the same segment and are the price makers in their

businesses.

20 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 22/28
10/9/2020 Group 7.pdf - Priya Bansal

21 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 23/28
10/9/2020 Group 7.pdf - Priya Bansal

20
MARKET STRUCTURE
1
Monopolistic competition: It is a market structure in which there is imperfect competition such

that many producers sell products that are differentiated from one another and hence are not
1
perfect substitutes. Essentially a monopolistic competitive market is one with freedom of entry

and exit, but firms can differentiate their products, Therefore, they have an inelastic demand

curve and so they can set prices. However, because there is freedom of entry, supernormal profit

will encourage more firms to enter the market leading to normal profit in the long term.

The industry has the following features-

▪ Many firms

▪ Freedom of entry and exit

▪ Firms produce differentiated products and are not homogenous

▪ Firms have price inelastic demand

▪ Price makers
13
▪ Normal profits in the long run and supernormal profit in the short run.

COMPANY EXPERTISE

The business embrace and adopt the suits, dresses, lehengas, pants, kurtis, dress material as we

know Indian Ethnic wear still dominates when it comes to special occasions lending an oomph

factor. Many also associate it with grace, elegance and poise. From Sarees and suits to lehengas

and kurtas, the embroideries and embellishments in these outfits can make women in India go

gaga. The lehengas that are provided by the business is the mix and match and are the copies of

Manish Malhotra and SabyaSachi at a much cheaper rate like the lehengas and Sarees ranging

lakhs providing them in 50-60k.

22 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 24/28
10/9/2020 Group 7.pdf - Priya Bansal

COMPANY DOES NOT WELL:

As it is a Monopolistic type there is a cut-throat competition in the market trying to sell most

trendy and in fashion clothes sometimes is not possible as the dead stock get piled up to maintain

the trend and fashion on a large scale but still there is room for improvement in a well-run

organization.

COMPARISON WITH COMPETITION (DIFFERENT)

As there is a cut-throat competition with the rivalry firms the price range, the employees

(salesman) vary the variety varies as we try providing traditional from all the cultures and

heritage of India trying to satisfy every customer’s demand by providing them trendy from

handmade products to readymade products the goodness of traditional Indian Ingredients. We

also include contemporary designs in a creative manner to bring out elegance and style which

other competitors are not able to fulfill fully. The designs choose and provided by us are

permeated with elegance, glamour and femineity, the traditional designs with modern Indian

flair.

COMPARISON WITH COMPETITION (SIMILAR)

As there is a Monopolistic Competition the product range provided by both the businesses are

almost similar. The two businesses are similar in the manner that products offered by both are

somehow similar in the variety of clothes and material used and the prices offered by the stores.

▪ There is a tough competition between the two in order to gain customers and increase

demand.

▪ The homogeneous product provided by both the businesses but the design varies

23 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 25/28
10/9/2020 Group 7.pdf - Priya Bansal

THE PANDEMIC
2
The Coronavirus pandemic has completely eroded the business world over with all industries

struggling amidst a global lockdown. Since the beginning of 2020, the spread of coronavirus has

completely destroyed the business ecosystem world over. Businesses world over have lost

trillions of dollars and one the worst global recessions have hit the world.

The coronavirus has forced government to ensure all the people are locked down and here all

businesses have been impacted.

In a conversation, the owner of the shop, Mr. Suresh Batra told us how he dealt with this

situation of complete lockdown imposed by the government and how he managed to sell his

stock after relaxation.

The following steps were taken by him

▪ Online promotion of the products and stores

▪ Home delivery of the products

▪ Measurements while wearing PPE kits by sales person

24 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 26/28
10/9/2020 Group 7.pdf - Priya Bansal

CONCLUSION

The project helped us in understanding about how the concepts of demand, supply, elasticity and

market structure are applied in the practical world. With the concepts of microeconomics, how

the organization can be studied and managed effectively in ambiguous times.

The topics and concepts of microeconomics can actually help owners handle critical situations,

understand how competition creates hurdles for everyone around and how we can apply our

knowledge of economics to deal with such hurdles. It helped us in understanding how costs are

covered and what MRP's to be imposed and how much discounts to give so that at least a break-

even point is attained in a period of decline.

This Pandemic created chaos all around and most affected were the small business sector.

However, Mr. Batra managed well in these hard times keeping in mind about the small workers.

25 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 27/28
10/9/2020 Group 7.pdf - Priya Bansal

BIBLIOGRAPHY
6
• https://opentextbc.ca/principlesofeconomics/chapter/5-1-price-elasticity-of-demand-and-

price-elasticity-of-

supply/#:~:text=The%20price%20elasticity%20of%20demand%20is%20calculated%20a

s%20the%20percentage,the%20percentage%20change%20in%
12
• https://www.economicshelp.org/blog/195/economics/calculating-price-elasticity-of-

demand/

• https://www.economicsdiscussion.net/price-elasticity-of-demand/price-elasticity-of-

demand-with-formula/25223

• https://en.wikipedia.org/wiki/Price_elasticity_of_demand

• https://www.khanacademy.org/economics-finance-domain/microeconomics/elasticity-

tutorial/price-elasticity-tutorial/a/price-elasticity-of-demand-and-price-elasticity-of-

supply-cnx

26 | Page

https://jim.turnitin.com/viewer/submissions/oid:24705:2749177/print?locale=en 28/28

You might also like