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Category > Economics Posted 02 May 2017 My Price 12.00

ECO 201 Milestone 2 ECO 201 Milestone 2 Supply And Demand Conditions of Starbucks

ECO 201 Milestone Two Guidelines and Rubric

The purpose of this milestone is for students to begin their firm analysis from a microeconomic perspective, applying concepts learned in Modules One, Two, and Three. Specifically, students will examine the supply and demand conditions for the goods or services the firm produces, paying special attention to how sales and product development have evolved over time. Students will then apply the elasticity concept to determine how the price elasticity of demand for the firm’s goods or services would be categorized, and they will examine what that suggests for the firm’s ability to increase or decrease prices.

Prompt: Submit a draft of the supply and demand conditions (Section II) and price elasticity of demand (Section III) of your research paper, including all critical elements listed below. You will analyze data on firm sales and in the market overall to identify trends and inform your recommendation for the firm’s future actions. You will also use available data to determine the price elasticity for the goods or services your firm produces and explain the factors that influence consumers’ reactions and the firm’s pricing decisions.

Specifically the following critical elements must be addressed:

II. Explore the supply and demand conditions for your firm’s product.

a) Evaluate trends in demand over time and explain their impact on the industry and the firm. You should consider including annual sales figures for the product your firm sells.

b) Analyze information and data related to the demand and supply for your firm’s product(s) to support your recommendation for the firm’s

actions. Remember to include a graphical representation of the data and information used in your analysis.

III. Examine the price elasticity of demand for the product(s) your firm sells.

a) Analyze the available data and information, such as pricing and the availability of substitutes, and justify how you determine the price elasticity of demand for your firm’s product.

b) Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your guide.

c) Assess how the price elasticity of demand impacts the firm’s pricing decisions and revenue growth.

Rubric

Guidelines for Submission: Your paper must be submitted as a two- to three-page Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and sources cited in APA format.

Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions.

Critical Elements	Proficient (100%)	Needs Improvement (75%)	Not Evident (0%)	Value
Conditions: Impact	Effectively evaluates trends in	Evaluates trends in demand over	Does not evaluate trends in	18
	demand over time and explains	time, but evaluation is ineffective	demand over time
	their impact on the industry and	or does not explain their impact
	the firm	on the industry and firm
Conditions: Firm’s	Analyzes information and data	Analyzes information and data	Does not analyze information and	18
Actions	related to the demand and supply	related to the demand and supply	data related to the demand and
	for the firm’s product(s) to	for the firm’s product(s), but	supply for the firm’s product(s)
	support recommendation for the	information and data do not
	firm’s actions and includes	support recommendation for the
	graphical representation of data	firm’s actions or do not include
	and information	graphical representation of data
		and information
Price Elasticity of	Analyzes the available data and	Analyzes the available data and	Does not analyze the available	18
Demand: Analyze	information and justifies how the	information, but does not justify	data and information to
	price elasticity of demand for the	how the price of elasticity of	determine the price elasticity of
	firm’s product was determined	demand for the firm’s product	demand
		was determined
Price Elasticity of	Explains the factors that affect	Explains the factors that affect	Does not explain the factors that	18
Demand: Consumer	consumer responsiveness to price	consumer responsiveness to price	affect consumer responsiveness
Responsiveness	changes for the product using the	changes for the product, but does	to price changes for the product
	concept of price elasticity of	not use the concept of price
	demand as a guide	elasticity of demand as a guide
Price Elasticity of	Accurately assesses how the price	Assesses how the price elasticity	Does not assess how the price	18
Demand: Pricing	elasticity of demand impacts the	of demand impacts the firm’s	elasticity of demand impacts the
Decisions	firm’s pricing decisions and	pricing decisions and revenue	firm’s pricing decisions and
	revenue growth	growth, but assessment is	revenue growth
		inaccurate

Articulation of	Submission has no major errors	Submission has major errors	Submission has critical errors	10
Response	related to citations, grammar,	related to citations, grammar,	related to citations, grammar,
	spelling, syntax, or organization	spelling, syntax, or organization	spelling, syntax, or organization
		that negatively impact readability	that prevent understanding of
		and articulation of main ideas	ideas
			Earned Total	100%

Answers

SmartExpert

(118)

Status NEW Posted 02 May 2017 03:05 PM My Price 12.00

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Attachments

file 1493740145-ECO 201 Milestone 2 Supply And Demand Conditions of Starbucks.doc preview (1135 words )

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