Economic of Apples over Price - Essay Example

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Economic of Apples over Price

So the price elasticity is always negative
I completed my Bachelors in Commerce last academic year. The choices in front of me to continue my studies were Masters in Commerce of Masters in Business Administration. I opted for Master in Business Administration. My next best alternative was Masters in Commerce.
I evaluated the money I will be spending in doing Masters in Commerce and Business Administration. Also I calculated the benefits (my salary) I will be drawing after my course. In Commerce I will learn more of trade and Accountancy. Whereas in Business Administration I will learn overview of business administration, management principles and strategies in managing the businesses. My earnings as manager are more when compared to my earnings as Accountant. As a manager my learning, personality also grows. I can as well start my own venture.
Business Administration gives more exposure to businesses around the world. Business administration is more practical and the approach is so. The choice to specialize in interested field is more with business administration. And job rotation is easier in Business administration. In my career I will managing businesses rather than do the tasks. The job involves decision making and strategy making. And the horizon I would work on is broader. All this sounded interesting to me. ...Show more

Summary

If price increases by 1% and consumers respond by decreasing purchases by 2%, the equation computes the elasticity coefficient as -2. The result is negative because the law of demand, defined later, is so. The result tells the demand is elastic and market reacts sharply to the price increase…
Author : emmanuelleprosa
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