ECONOMICS FOR BUILT ENV

BY
Nikhil Jayendra Dandekar
Roll No – 9022042
Class: MBA – CPM (2022-2024)
Section: B

Group : 1

Course Code: AUMREAL661

RICS School of Built Environment

Amity University

Dandekar Nikhil Jayendra

[company name]
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Task 1

1. Equilibrium – It is the combination of economic

variables i.e price and quantity towards which
normal economic process like demand and supply
drive the economy .
2. Price Ceiling – The Maximum Price you can charge
for a particular item /product .
3. Price Flooring – The Minimum Price you can
charge for a particular item /product .
4. Break Even Point ( BEP) - The break-even point is
the point at which total cost and total revenue are
equal
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Task 2 : ’Multiplex’ Market

Grand World Cinemas (GWC) is a multi screen cinema hall in Mumbai.Due to Covid-19
there has been a drastic reduction in customer footfall. They have now reviewed their
business plan. They now wish to commence with a new action movie. They conducted a
market study three months ago and found that the following data appear to represent demand
and supply where P is the price of the entry ticket in Rupees and QS and QD are the number
of tickets supplied and demanded. This is the original estimate.

Price QS QD
400 1000 100
350 800 300
300 600 500
250 400 700
200 200 900
However, after a very robust vaccination drive citizens appears to be in a ‘revenge spending’
mode. Looking to the potential for doing business during upcoming holidays, they have now
estimated that quantity demanded is likely to go up by 80 units while quantity supplied could
decrease by 20 units. This may be considered as leading to a revised estimate.
a) Draw neatly labelled D,S curves for original and revised estimates on the same plot.
b) Find equilibrium price and quantity for original market conditions.
c) Find equilibrium price and quantity for revised market conditions and provide your
comments.
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Task 3 : ‘Market’ for Warehousing

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Task 4 – Statement of Learnings - your window of communication with the
teacher.
Please submit the following for the last two weeks
Week Topics Covered & Your learnings OR the points where you faced
difficulties – to be discussed here

W4: EQUILIBRIUM – In this we learned about Quantity supplied is

equal to quantity demanded and Price Supplied is equal to Price
Demanded .
W5: Break Even Point ( BEP) - The break-even point is the point at
which total cost and total revenue are equal .

b) Your progress in reading the topics covered so far from any available text
book - I use LMS and Class notes for reading and I get good knowledge
from it.
c) please confirm that you have read some portions pertaining to introduction to
economics, theory of demand, theory of supply, and market equilibrium. The
course guide contains the syllabus so please refer to that. If you are using a book
which may be having very large number of pages, do not panic. All of that may
not be required for this course. So, you can do selective reading and keep up-to-
date. – Yes I have read INTRODUCTION TO ECONOMICS , Theory of
Demand and all other topics from class notes as well as I also like to revise
that from LMS.
d) I hope that you are now gaining confidence in explaining phenomena using
terms of economics. Kindly note that such reading will give you the desired
competency in the subject and ability to frame your responses. Kindly write a
few sentences about this. –

e) Briefly describe your learnings from the class activity conducted on markets.
Please list down all keywords / concepts which you are unable to grasp. I can
try to reach out to you and explain them to you personally separately – Class
activities are really helping us understand demand and supply as well as
the seller and buyer of property from the activity ( where we used cards
black – buyers , red – sellers ) was excellent to understand , and I will like
to see/have such activities along with my learning (lectures)
f) Describe your progress on Glossary on LMS (available at Glossary of Terms
used for EBES (amity.edu) )? Please add words to it from the keywords already
submitted in previous submissions. – I have added few words to it as I m
learning new concepts , I will like to add more words as per the knowledge
and info I get in future lectures .