👑Microeconomics and Consumer Behavior  Essays

Explain two reasons why demand for a product may be price-inelastic.

Discuss whether or not a firm that produces a wide range of products can take advantage of economies of scale.

Explain the differences between capital and labour.

Discuss whether the average cost of production always decreases when a firm increases the total output that it produces.

Compare the private sector and the public sector

Discuss whether or not introducing more capital-intensive production methods will increase a firm’s profits.

Analyse how firms can benefit from specialisation.

Analyse how information on price elasticity of demand for its product can influence a firm’s pricing decisions.

Discuss whether or not a firm should have growth as its main objective.

Explain the two types of poverty.

Explain ways a firm could increase the productivity of its workers.

Explain the influence of opportunity cost on consumers’ decisions.