Business Economics


Business Economics – Coursework August 2018

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You are an Economics Business Consultant who helps businesses operate more efficiently, manage risks and maximize profits.

‘Ella Bridals’ is a well establish brand in the fashion industry, specializing in high-end bridal dresses and is based in Chelsea, London. ‘Your Destiny’ and ‘The Big Day Special’ are the only two competitors in the area. Ella Bridals distinguishes itself from its competitors by allowing customers to choose from a variety of high quality materials imported from China, India and Pakistan. The customers also have an option to customize their dresses.

The price range for Ella’s dresses varies from £7000 to £30,000. Despite the high price, the brand is highly popular with wealthy customers. There is always a long waiting list for an appointment with the lead designer at Ella bridals.

Ella Bridals has been highly profitable during the last 10 years, and has been reinvesting those profits to grow. The business started with producing 50 dresses a year but has since grown its annual production to 300 dresses.

The UK has recently experienced an economic downturn which has led to an overall decrease in the aggregate demand for goods and services. Ella Bridals has also experienced a slight decrease in demand for its bridal dresses. In order to boost orders, the management of the company recently decided to offer a flat 15% discount on all products.

The management has hired you to help formulate a strategy to navigate through the current challenging macro-economic environment. They have given you questions they would like your advice on. Please prepare a report of no more than 1500 words, assessing the situation with reference to the questions. The first paragraph should set out the purpose of the report highlighting the topics that are covered in your write up. Your report must be referenced using Harvard referencing.

 

 

Question 1:

 

 

  1. What is the difference between a normal good and an inferior good? Are the dresses produced by Ella Bridals a normal or an inferior good? Briefly explain your answer.

(5 marks)

 

 

  1. Define opportunity cost. What will be the opportunity cost to Ella Bridals of reinvesting all its profits in the business?

(4 marks)

 

  1. Assume there has recently been a decrease in the income tax, decrease in corporation tax and an increase in custom duty. Explain these taxes. How will these changes affect Ella Bridals?

(9 marks)

 

  1. What will be the impact of a 15% flat discount on the total revenue and profits of the business?

(4 marks)

 Total marks: 22

 

 

 

Question 2:

 

 

  1. State and briefly explain two possible benefits and two possible costs to Ella Bridals for increasing its scale of production over time?

(8 marks)

 

  1. Ella Bridals believes its dresses have an inelastic price elasticity of demand. Briefly explain with the help of diagram what this means and give two reasons why this may be the case.

(8 marks)

 

  1. Ella Bridals decides to open an outlet in China. Using a supply and demand diagram show and briefly explain how this change will affect the business. Fully label your diagram.

(6 marks)

                                                                                                                  Total marks 22

 

 

 

Question 3:

 

  1. State and briefly explain two advantages and two disadvantages of opening an outlet in China.

(8 marks)

 

  1. Ella Bridals needs finance to further expand the business. Explain three ways in which the business can raise funds.

 (6 marks)

 

  1. What is the relationship between risk and interest rates? What will be the cost of borrowing for Ella Bridals? Explain your answer.

(3 marks)

 

  1. Referring to Ella Bridals, briefly explain 3 reasons for a shift in demand.

(6 marks)

 

  1. Based on the information given in the case study, what market structure does Ella Bridals operate in? Briefly describe three characteristics of this market structure.

(3 Marks)

                                                                                                       Total marks: 26  

                                                                                                                                                                                       

Question 4:

 

  1. State any two macroeconomic indicators. Explain how they will be affected because of a recent recession in the UK.

(6 marks)

 

  1. What type of demand side policies should be used by the UK government and the Bank of England to deal with this economic downturn? Briefly explain these policies highlighting at least three ways in which these policies will benefit the economy.

(10 marks)

 

 

  1. State three different ways to increase money supply in the economy.

(3 marks)

 

  1. Assume the UK government has decided to use protectionist policies. State and briefly explain three reasons why government might want to impose certain trade barriers?

(6 marks)

Total Marks: 25

 

END OF COURSEWORK

To get your Assignment/Homework solutions;

Simply Click ORDER NOW and fill your paper details. Our support team will review the assignment(s) and assign the right expert whose specialization is same to yours to complete it within your deadline. Our Editor(s) will then review the completed paper (to ensure that it is answered accordingly) before we email you a complete paper

 

 

 

 

 

BPP Coursework Cover Sheet

Please use the table below as your cover sheet for the 1st page of the submission. The sheet should be before the cover/title page of your submission.

Programme Please do not leave blank
Module name Business Economics
QAA Level 4
Schedule Term August 2018
Student Reference Number (SRN)  
Report/Assignment Title  
Date of Submission

(Please attach the confirmation of any extension received)

 
 
 
Declaration of Original Work:

I hereby declare that I have read and understood BPP’s regulations on plagiarism and that this is my original work, researched, undertaken, completed and submitted in accordance with the requirements of BPP Business School.

The word count, excluding contents table, bibliography and appendices, is 1500 words.

Student Reference Number: xxxxxx                                                                                       Date: xx/xx/xxxx

By submitting this coursework you agree to all rules and regulations of BPP regarding assessments and awards for programmes.  Please note, submission is your declaration you are fit to sit.

BPP University reserves the right to use all submitted work for educational purposes and may request that work be published for a wider audience.

BPP Business School

 

 

 

All Undergraduate BSc Programmes

Business Economics

 

 

Coursework Assessment Brief

August 2018

 

 

Submission deadline: __28 August 2018_

 

Submission mode: Turnitin online access

 

 

 

 

 

 

 

 

 

 

 

 

1.     General Assessment Guidance

  • Your summative assessment for Business Economic is a Coursework
  • The deadline for submission is 11:59 PM on 28th August 2018
  • You are required to submit your assessment via Turnitin online access. Only submissions made via the specified mode will be accepted and hard copies or any other digital form of submissions (like via email or pen drive etc.) will not be accepted.
  • For coursework, the submission word limit is 1,500 words. You must comply with the word count guidelines. You may submit LESS than 1500 words but not more. Tables, diagrams, bibliography, appendices, annex and headings are NOT included within word count calculations.  You must specify total word count on the front page of your report.
  • For coursework, please use font size 12 for body text and the typeface (font) should be Arial or Times New Roman with minimum 5 spacing.
  • For headers and titles, please use font size 14. Your submission must have standard margins and page numbers.
  • Please use English (UK) as your language in the submission.
  • Do not put your name or contact details anywhere on your submission. You should only put your student identification number (SRN) which will ensure your submission is recognised in the marking process.
  • A total of 100 marks are available for this module assessment and you are required to achieve minimum 40% to pass this module.
  • You are required to use only Harvard Referencing System in your submission. Any content which is already published by other author(s) and is not referenced will be considered as a case of plagiarism.

You can find further information on Harvard Referencing in the online library on the VLE. You can use the following link to access this information:

http://my.bpp.com/vle/mod/data/view.php?d=223&rid=596

  • BPP University has a strict policy regarding plagiarism and in proven instances of plagiarism or collusion, severe punishment will be imposed on offenders. You are advised to read the rules and regulations regarding plagiarism and collusion in the GAR and MOPP which are available on VLE in the Academic registry section.
  • You should include a completed copy of the Assignment Cover sheet. Any submission without this completed Assignment Cover sheet will be considered invalid and not marked.

2.     Assessment Brief

2.1.       Case Study

The coursework is based around a fictitious bridal shop in Chelsea London and its owner Ella.

2.2.       Questions

The questions cover the main areas of module. The questions range from short answers to longer answers that require an evaluation of the economic situation, where you need to give your own opinion, backed up by economic reasoning.

The amount of marks for each question is a clear guide as to the length of the answer required.

2.3.       Assessment Submission Structure

This coursework needs to be submitted via Turnitin.

2.4.       Assessment Marking Scheme

The assignment is marked out of 100. The following table shows the mark allocation and the approach required.

Assignment Part Mark Approach
Question 1 22%  
Question 2 22%  
Question 3 26%  
Question 4 25%  
Presentation Marks 5% Good grammar, spelling and presentation required.

 

Total 100%  

 To get your Assignment/Homework solutions;

Simply Click ORDER NOW and fill your paper details. Our support team will review the assignment(s) and assign the right expert whose specialization is same to yours to complete it within your deadline. Our Editor(s) will then review the completed paper (to ensure that it is answered accordingly) before we email you a complete paper

 

 

 

 

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