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In assignments students might be asked for an individual work or group work, as it requires a wide range of research and documentation. To show the market demand and supply curve, economic assignment assigned a firm’s case study on firm’s strength. Say, in this case study the students are asked to carefully diagnose the given case in light of the company. I. e. Hoon Pty Ltd. Is an auto parts producer which claims to provide revotionalise vehicle safety by its new specialized patented technology.
Providing the company profile, students are asked to identify and demonstrate the influencing factors that has an impact on the demand and supply curve and draw the situations or fluctuations in the supply curve for the firm’s patented technology or some other services relevant to the case. To support the case, the associates of economic assignment also considers necessary aspects i. e. short run and long run impact of the elements, the elasticity of the demand and supply etc. In addition, to justify the outcome, associates of economic assignment show possible impact of the change in elements and construct a hypothesis analysis.
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Some international trade barriers such as trade tariffs is a factor to be considered in setting the price and quality of the product globally. Major changes are found if the supply chain of one country differs from others. For example, US Farm Bill 2012 set their price for wheat at $50 per ton more than the market equilibrium. Though it helped the domestic market cultivators but consumers and producers face a deadweight loss. Along with that, it becomes a rising threat international wheat traders as well. Assignment helped consider all the above conditions and the expert writers build required graph and charts to show the equilibrium, loss, gain and other curves.
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