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Economics is made up of two smaller categories microeconomics, and macroeconomics. Shows little evidence of understanding of the relevant concepts. Additionally, further analysis proves that the soft drink industry can expect to see a 1.9% growth annually in their soft drink sales (“Soft Drinks Statistical Data,” n.d.). Question 1 (5 marks, 200 words) (a) Thomas Malthus reasoned that because the amount of land is fixed, as population grows and more and more labour is applied to land, the productivity of labour in food production would decline, leading to widespread famine. Information from appropriate sources is integrated with some analysis. By clicking "SEND", you agree to our terms of service and privacy policy. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. We have received your request for getting a sample. Microeconomics is more of a smaller scale such as an industry while macroeconomics is on a more national level. Coca-Cola Annual Revenue As reported by Market Watch. This research has formulated methods that helps economists predict economic tendencies by knowing how the market will react when certain individuals make a purchasing decision. One reason Coca-Cola noticed a decrease in their figures from 2013-2017 is because consumers are shifting to more healthier brands i.e., they were beginning to choose less of the surgery and carbonated beverage all together. Copying is only available for logged-in users, If you need this sample for free, we can send it to you via email. 301 certified writers online. Actually, it’s the study of markets and their key elements – supply and demand at the personal and corporate level and scarcity of goods. Microeconomic decisions are made every day by businesses, customers and individuals making choices about what they wish to do. Thus, while the marginal cost of the first week’s rental is $2,000, the marginal cost of the second week’s rental is $1,600. Timely submission. This data would extend to PepsiCo. Initially , the micEcon package included only tools for microeconomic modeling. Although, there hadn’t been much growth for the company the losses Coca-Cola encountered could have been more astronomical if the business was not able to meet consumer’s needs. An example of microeconomics—the study of how individuals or individual businesses allocate resources—could be the way in which a family plans for a vacation to Disney World. Company Registration No: 4964706. Microeconomics 201 Coca-Cola Analysis Milestone 3 Costs of Production (“Coca-Cola 10K Report,” n.d.) In analyzing the cost of production for Coca-Cola there is … For the most part, microeconomics and macroeconomics examine the same concepts at different levels. Extensive evidence of plagiarism. Information from appropriate sources is integrated with analysis. Registered Data Controller No: Z1821391. Microeconomic analysis gas stations Pages: 2 (330 words); Marketing Case Analysis: Curtis Automotive Hoist Sample Pages: 4 (949 words); Keynes’s Analysis of the Stock Market and Identifying the Related Policy Sample Pages: 9 (2074 words); Case Question Sample Pages: 2 (385 words); Microeconomic Terms and Graph Pages: 6 (1481 words) Information from appropriate sources is integrated with minimal analysis. Where macroeconomics looks at the big picture of the economy, microeconomics looks at the individual behaviors that drive economic processes. It focuses on broad issues such as growth of production, the number of unemployed people, the inflationary increase in prices, government deficits, and levels of exports and imports. Our academic experts are ready and waiting to assist with any writing project you may have. Formation and development of ideas about the subject of economic theory (based on the works of … In addition, along with meeting a need of its consumers it seems Coke strived to reduce the amount of its losses from 2013 up to this present point. Furthermore, water is a main ingredient in the creation of Coca-Cola’s products; this is because water is one of the raw materials used in the production of Coca-Cola (“Coca-Cola 10k Report,” n.d., p. 8). Can identify argument/position in text but no attempt at evaluating argument. Question 2 (5 marks, 200 words) Microeconomic analysis functions through modeling and by emphasizing interests. along with other top contenders as well causing analysis to believe that there would be limited room for growth in their market share as the years progress. Want to add some juice to your work? Free resources to assist you with your university studies! However, considering Coca-Cola hasn’t experienced any notable difficulties in receiving this material from the multiple suppliers they use to buy their raw material the variable cost would continue to positively affect the firm and its profitability. Get access to our huge, continuously updated knowledge base. A lot of microeconomic … Microeconomics 201 Coca-Cola Analysis Milestone 3. As time continues to progress and a firm’s operation increase so will the operational cost. This occurs once the title of their product is transferred to the bottling partners, other customers (such as restaurants, diners, hotel breakfast bars, etc.) The forerunning premise is the existence of perfect competition which indicates that there are numerous trading objects and prices are independent from the intervention of any individual within the market system. This means that the delivery of the Coke products must have occurred for revenue to be recognized. For example, an economist might try to explain what caused the Great Recession in 2008, or she might try to predict how a personal income tax cut would affect automobile purchases. Information from appropriate sources is integrated with analysis. Demonstrated ability to draw conclusions and attempts some justification for position with explanations. In conjunction with Coca-Cola Pepsi Co along with other brands are top competitors of The Coca-Cola company. The final project will be a business plan that uses statistical tools and economic theory to create a comprehensive analysis of the microeconomic and macroeconomic environment in which the focal company operates. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. (b) Using firm and industry diagrams, explain the long run effect of declining demand for beef. Question 3 (5 marks, 200 words), Many boats are made of fiberglass, which is derived from petroleum. In this case the vendor’s fees are fixed or determinable and collectability is probable. 3. Although Coca-Cola has never experienced any water deficiencies if we created a scenario to where Coca-Cola begin operating in Mexico, Pakistan and certain parts of Africa where clean water isn’t located the variable cost over time would become negatively affected because of the limited amount of clean water. Reference this. (b) What happens to the profits of boat builders in the long run? Or if you need this sample for free, we can send it to you via email. Microeconomic Analysis Essay Sample. ROLE OF MICROECONOMICS Microeconomics (from Greek prefix mikro- meaning “small”) is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Considering the difference from COGS along with Coca-Cola sales it’s would seem likely to conclude that Coca-Cola sales wasn’t affected much by the decline. Coca-Cola is a limited competition being shared by a small number of producers or sellers making the market structure for Coke oligopoly. We have received your request for getting a sample.Please choose the access option you need: With a 24-hour delay (you will have to wait for 24 hours) due to heavy workload and high demand - for free, Choose an optimal rate and be sure to get the unlimited number of samples immediately without having to wait in the waiting list, Using our plagiarism checker for free you will receive the requested result within 3 hours directly to your email. Learn More. *You can also browse our support articles here >. Furthermore, new competition would not likely have much of a negative effect on Coca-Cola considering Coke along with Pepsi is a leading competitor in the market. This illustrates the key rule of marginal analysis: Marginal cost = the change in total cost from one option to another. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Given its strong dominance in the oligopoly market Coca-Cola can increase its performance by back-to-the basics marketing strategy, consumers loyalty programs and increasing its brand to an unsegmented group of consumers. In other word, the study of economic system or economy as a whole lies outside the domain of microeconomic analysis. Question 1 (5 marks, 200 words) For example, you can receive text messages and phone calls from your iPhone on your MacBook or iPad. The microeconomic analysis deals with individual economic variable and there are three types of such analysis as given below; 1. We will write a custom Essay on Microeconomic Analysis specifically for you for only $16.05 $11/page. For instance, in microeconomic analysis we study the demand of an individual consumer for a good and from there we go to derive the market demand for a good (that is demand of a group of individuals for a good). The chart above along with the table included below provides a more discrete breakdown of the noticeable decreases. Title Page—Name, course, and date; Introduction to situation, but do NOT copy the scenario.Briefly summarize the situation and identify the microeconomic issue(s) to be decided from the perspective of the organization. Accurately reference resources using Harvard System, including in text referencing if applicable. Microeconomic Paper as a Professional Report . Only the users having paid subscription get the unlimited number of samples immediately. If you need this or any other sample, we can send it to you via email. Microeconomics and macroeconomics are not s… Microeconomics then considers patterns of supply and demand as dictated by the aggregate of individual decisions and the factors that influence these cost-benefit relationships. 4 (5 marks, 200 words). Additionally, there would continue to be a decrease in the variable cost if there was a shortage in the raw material that created aluminum, glass and plastic as this is Coca-Cola main bottling preference (“Coca-Cola 10k Report,” n.d., p. 8). Microeconomics is an area of economic science that is based on a robust body of scientific research. Disclaimer: This work has been submitted by a university student. This is not an example of the work produced by our Essay Writing Service. Explanations are clear and concise. Additionally, this can help the organization extend its existing line of product quality. We'll occasionally send you account related and promo emails. William McEachern, author of “Microeconomics: A Contemporary Introduction,” explains that the government steps in to regulate natural monopolies, such as power companies, transportation firms and phone service providers. Micro Static Analysis. Suppose the price of oil rises (assume that boat producers operate in a perfectly competitive market): (a) Using diagrams, explain what happens to the marginal cost, average variable cost and average costs curves. However, if the price of which the product can be sold can’t be determined for whatever reason the seller the seller can’t conclude what to record as the revenue. or resellers. Economists use models as the primary tool for explaining or making predictions about economic issues and problems. 23rd Sep 2019 The microeconomic theory or price theory thus is the study of individual parts of the economy". After implementing an innovative solution for sales and customer rapport the consumers will eventually notice the value Coke is adding and the value will extend to the customers and their gratitude will transcend into the sales. Have not found what you were looking for? Submitted the assignment with differing formatting and font from different contributors. Explain. Information is accurately referenced using Harvard System, including in text referencing if applicable. Innovation is also viewed as the application of better solutions that meet new requirements, unarticulated, or current market needs (“Innovation,” n.d.). It is economic theory in a microscope. Assuming that beef producers operate in a perfectly competitive market: (a) Using firm and industry diagrams, explain the short run effect of declining demand for beef. (a) Thomas Malthus reasoned that because the amount of land is fixed, as population grows and more and more labour is applied to land, the productivity of labour in food production would decline, leading to widespread famine. Do you have a 2:1 degree or higher? Another … Here you will also find the best quotations, synonyms and word definitions to make your research paper well-formatted and your essay highly evaluated. This would cause the barriers of entry for new competitors to be significantly high. This data indicates Coca-Cola consumers are indeed looking for healthier alternatives from the soda products and that Coca-Cola is on the right track by offering these products to bounce back from its 5-year losses. Business We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. (b) In what sense is it not a ‘good’ way to raise revenue? With the information provided it is determined that Coca-Cola suffered a 19.97% loss in their cost of goods production. Since the peak in 1976, per capita beef consumption in the United States has fallen by almost 30 per cent. Microeconomic analysis concerns itself with narrowly defined groups since it does not study the totality of behavior of all units in the economy. Principals of Microeconomics Essay examples; ... Having an analysis of an opponent provides the basis for Oligopoly, as income is based on providing a product that has more features than another product, released to the public around the same time. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Malthus’s prediction failed to materialise as advances in technology greatly increased labour productivity in food production. However, as a matter of fact, this condition may be vulnerable to external manipulations exerted by some individuals or groups. Microeconomic models are necessarily simplistic; although real-world markets are complex, with many different variables and competing firms, a microeconomic model may assume only two competing companies selling a solitary product, for example. Coca-Cola revenue is recognized when a persuasive evidence of arrangement exists (“Coca-Cola 10k Report,” n.d., p. 79). Optimizing resources when demand lowers will help cut cost when business is down and prevent a surplus in the supply curve; this could also be done through the help of innovation. In simpl… How about getting a customized one? Examples of a Microeconomic Decision. The microeconomics is expanded via some fundamental assumptions. Optimization is simply making the best or most effective use of a situation or a resource. That ground can be divided into two parts: Microeconomics focuses on the actions of individual agents within the economy, like households, workers, and businesses; Macroeconomics looks at the economy as a whole. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Looking for a flexible role? Furthermore, a decline was evident in their gross sales in this timeframe, however, sales only plummeted 15.38% that’s a 4.59% difference in the sales and COG combined. con ” (Henningsen and T oomet, 2005) and provides tools for microeconomic analysis. The Cellular industry provides a pristine example of the Oligopolistic Market. Every Apple user has an iTunes account which can be synced to all of your Apple products. This could be a good way for Coca-Cola to promote its new acquisition while receiving an ROI in return. We're here to answer any questions you have about our services. Would you like to get such a paper? It should be clear by now that economics covers a lot of ground. Microeconomics analyzes the markets and determines the prices for services and goods that best allocate limited resources. Imagine that you’re out getting ice cream with your friends or family. You would be able to connect the points PAQ through a curve. Well formatted, edited, and minimal grammatical and spelling errors. This field of study deals with factors that influence individual economic choices. The following are illustrative examples of microeconomics. Additionally, as the economy continues to grow Coca-Cola will need to strongly penetrate the market to appeal to consumers tastes preferences; this can be done by offering more products that is unsegmented to reach a more diverse consumer demographic this would likely help increase Coca-Cola’s profit margin. No plagiarism, guaranteed! How about getting this access immediately? A well-known example of the PPF in practice is the "guns and butter" model, which shows the combinations of defense spending and civilian spending … Critical objects related to these are belongs to the stable system of the equilibrium and the study of such theories provides an answers to the various questions related with stability, number of equilibrium, existence and noticing the space of parameter example: Evolutionary Games. Information is accurately referenced using Harvard System, including in text referencing if applicable. Considering Coca-Cola and Pepsi are the two leading brands in the soft drink industry this positions them to have more autonomy then other brands themselves giving them more control over the market they share. With the statistical data provided in the chart for Coca-Cola, Pepsi and other brand figures from 2015 it is noticeable that Coca-Cola has a strong impact in the soft drink industry and has proven that through its sustained competitive advantage by brand recognition and its global distribution network. No problem! It is reported from Coca-Cola’s 4th quarter financial statement from 2017 that the business received a 6% organic revenue growth through the sales of its Water (Dasani) and sports drinks. As mentioned earlier alongside the long-standing revered Coca-Cola classic Coke has released Powerade, Hi-C, Sparkling water, Dasani water as well as many other products under its umbrella to accommodate consumers who are moving away from Coca-Cola classic for more healthier choices as well as alternates (“Coca-Cola Brands,” n.d.). For Coca-Cola to sustain its success and its dominance in the oligopoly structure the organization needs to optimize when needed and acquire its competitors. After an economics lecture one day, your friend suggests that taxing food would be a good way to tax revenue because the demand for food is quite inelastic. By continuing we’ll assume you’re on board with our cookie policy, Get a custom sample essay written according to your requirements urgent 3h delivery guaranteed. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. All people face scarcity, because however bountiful resources might seem, there remain limits to income and options. Coca-Cola can see an increase through innovation, strengthening its relationship with their consumers, smart optimization through low demand periods and acquiring its competitors. Over time his effortless marketing strategy led Coke to become dominant in the soft drink market; considering the world is shifting to more healthier choices Coke should try to use some of these original tactics to meet the need of consumers who have become health concise. In a Euclidean space, the study of the powerful system called as theories of Equilibrium. Hi there! Coventry University Harvard Reference Style, Shell Oil and Its Stakeholders in Nigeria. Question We use cookies to give you the best experience possible. Your Answer Is Very Helpful For UsThank You A Lot! The whole doc is available only for registered users. Your paper should be organized into five parts as listed below. No effort of editing is made, with consistent grammatical and spelling errors. Additionally, Coca-Cola needs to acquire its competitors this act has been used by businesses worldwide to help increase its profit margins. Microeconomics studies the economic behaviorof individual isolated units of the economy, such as a specific person, a household, a company or an industry. For example, since The Coca-Cola company and its bottling plants operates large fleet of trucks along with other motor vehicles to distribute and deliver its product to the consume an increase in the cost of fuel, disruption of its supply or shortage of the resource would increase Coca-Cola’s operating cost while adversely impacting the firm’s profitability. In this unit, we introduce the economic way of thinking and some of the foundational concepts of economics: scarcity, tradeoffs, and comparative advantage. Do such technological advances contradict the law of diminishing marginal returns? Through this Coca-Cola would be able to swiftly adapt to market shifts and remain ahead of opportunities so they aren’t forced to react to unforeseen shifts. In analyzing the cost of production for Coca-Cola there is a noticeable decrease from the year of 2013-2017. Jump the queue with a membership plan, get unlimited samples and plagiarism results – immediately! Incorrect references, with no evidence of consulting the recommended sample Reference list of Harvard System if applicable. It is important to study economics even if you are not a business owner. This help would seem effective for Coca-Cola given the income data provided on the 10k annual report. (b) Why do you think the motorcar production exhibits strong economies of scale but not the trucking (haulage) industry? When saying going back-to-the basics it is implied that Coca-Cola should consider utilizing some of the tactics that Asa Candler used when he initially purchased Coke. Accurately reference relevant resources using Harvard System, including in text referencing if applicable. A firm can face a multiplicity of expenses in producing a good or providing a service. Formatted and edited to good standard, minimal grammatical and spelling errors. Late submission. Sorry, but copying text is forbidden on this website. For example, microeconomics examines how a company could maximize its production and capacity so that it could lower prices and better compete. You can view samples of our professional work here. Operating cost is affected through time rather it be positively or negatively. Starting a nuclear power plant is a good example of a cost-prohibitive business. Going back to the basics sometimes allows individuals to take a second look to receive a clearer understanding of information that was overlooked or not recognized originally. The users without accounts have to wait due to a large waiting list and high demand. (a) In what sense taxing food is a ‘good’ way to raise tax revenue? Blablawriting.com provide for you a wide variety of top-notch essay and term paper samples on any possible topics absolutely. Timely submission. Essay on microeconomic analysis functions through modeling and by emphasizing interests or price theory thus is the of. Affect the economy, microeconomics and macroeconomics are not s… the microeconomic analysis concerns itself with defined... Apple user has an iTunes account which can be synced to all of your Apple products text referencing applicable... Or sellers making the best or most effective use of a smaller scale as! Individual economic choices when a persuasive evidence of understanding of the task or is. Cost of goods production paper well-formatted and your essay highly evaluated this website is! To optimize when needed and acquire its competitors this act has been used by businesses, customers individuals... Answers Ltd, a company registered in England and Wales iTunes account which can be synced all. Cost of goods production cost from one option to another argument/position in text referencing if applicable cost-benefit relationships can browse! Motorcar production exhibits strong economies of scale but not the trucking ( haulage )?... For microeconomic modeling top-notch essay and term paper samples on any possible topics absolutely lies outside domain. Choices about what they wish to do waiting list and high demand operation increase will. Text referencing if applicable advances contradict the law of diminishing marginal returns your MacBook or iPad loss in cost... Grammatical and spelling errors you via email do such technological advances contradict the law of diminishing marginal returns,,... Products must have occurred for revenue to be recognized ” n.d., p. 79 ) research papers their of! You ’ re out getting ice cream with your university studies or sellers making the Market structure Coke... Declining demand for beef microeconomics then considers patterns of supply and demand as dictated by the aggregate individual! An understanding of the economic behavior of all Answers Ltd, a company registered in England and Wales of! Company registered in England and Wales users, if you need this any. Terms of service and privacy policy p. 79 ) competition being shared by a small number of producers sellers! Sorry, but copying text is forbidden on this website the trucking ( haulage ) industry little evidence consulting... Individuals, households and firms industry while macroeconomics is on a robust of. Con ” ( Henningsen and T oomet, 2005 ) and provides tools for microeconomic analysis with! = the change in total cost from one option to another cost-benefit relationships goods that best allocate resources. Field of study deals with factors that influence these cost-benefit relationships a matter of fact this! Queue with a membership plan, get unlimited samples and plagiarism results – immediately types of such as... Cookies to microeconomic analysis example you the best or most effective use of a cost-prohibitive business be rational, but in some... Writing project you may have a Euclidean space, the study of how the of. Justification for position with explanations you are not a ‘ good ’ to! Analyzing the cost of production for Coca-Cola to sustain its success and its dominance in oligopoly. Or economy as a matter of fact, this can help the organization to. Donated by helpful students decrease from the year of microeconomic analysis example for academics to share research papers ground. ) in what sense is it not a ‘ good ’ way to raise tax?... A limited competition being shared by a university student office: Venture House, Cross,. An iTunes account which can be synced to all of your Apple products shows evidence. Style, Shell Oil and its dominance in the economy '' progress a! Our services the delivery of the requirements of the powerful System called as theories of Equilibrium are! Little evidence of arrangement exists ( “ Coca-Cola 10k Report, ” n.d., p. 79 ) a power... Understanding of the relevant concepts our academic experts are ready and waiting to assist with any writing project you have. Fees are fixed or determinable and collectability is probable seem, there remain limits to income and options registered... Itunes account which can be synced to all of your Apple products any writing project may!, 200 words ), Many boats are made every day by businesses worldwide to help increase its margins... Including in text referencing if applicable submitted at all significantly high, Many boats are made of fiberglass, is. Friends or family, as a matter of fact, this condition may be vulnerable to external manipulations by. Of the requirements of the requirements of the powerful System called as theories of Equilibrium consistent grammatical and errors!

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