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Essay / Research Paper Abstract
This 9 page paper looks at the various market forces seen in the UK new car industry. The paper looks at influences on the supply and demand including elements such as profit level, attractiveness of the market, trends and fashion, social factors, disposable income and level of advertising. The bibliography cites 6 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEautosupdem.rtf
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Unformatted sample text from the term paper:
demand are determined we need to look at the basic concept and then we can apply this to a particular industry. In this paper we will use the UK new
car market. Supply and demand will be impacted by a number of factors. Factors such as price, fashion, advertising or marketing and the economy and/or disposable income will all
impact on the way demand will emerge. When the demand is greater than the supply the price of the goods will increase until there the price puts a sufficient number
of people off, meaning that the demand decreases as the price increases. This sees the firms in this market making higher profits due to the limited supply.
When the converse is true and supply exceeds the demand, the price will then drop, dropping to a level where it is able to attract sufficient
customers to make the purchase attractive and create equilibrium between supply of the goods and demand of the goods (Nellis and Parker, 2000). This is traditionally illustrated by the use
of a chart, as shown below in figure 1. Figure 1; The supply lines shows that as the price for the
goods increase more suppliers will want to supply the market, they are attracted by the higher profits. However, for consumers the opposite is true, the demand for goods will increase
as the price decreases. The point at which the supply lines cross with be the point of equilibrium, which is the price. The
supply line may be moved when there is a change in the supply, if there is a decrease in the supply the line will move to the left, if there
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