Microeconomics is the study of economic behavior of the individual household or firm. In this Session Long Project, you will follow one firm of your choice for the entire session. You will analyze how this firm makes economic decisions as well as how events in the economy affect the firm. Please choose ONE Fortune 500 firm from the following list (feel free to use ANY firm, it does not have to be in the top 10):
After choosing one firm, address the following questions in a 3-4 page essay:
1. What is the organization you are going to use? Why do you think it will be an interesting focus for your economic analysis?
2. Use the powerpoint presentation in the background materials to learn more about the firm of your choice.
a. Pick TWO of the economic terms presented in the PowerPoint Slides that apply to your organization. What are they? Explain how each applies to your organization.
b. Pick one of the "Big Economic Ideas" presented in the PowerPoint Slides. Discuss how they apply to your organization. What do they add to your understanding of how your organization operates? Do you have any new insights?
3. Supply and Demand are important tools to study how markets function. Read more about Supply and Demand from the Background Material and address the following:
a. What good or service does your firm produce? What are some factors that would cause a change in demand for this good/service? How does quantity demanded of this good/service change?
b. Give some examples of changes in supply in the context of your good.
SLP Assignment Expectations:
Use concepts from the modular background readings as well as any good quality resources you can find from the cyberlibrary or other internet search engines. Please be sure to cite all sources within the text and a reference list at the end of the paper.© BrainMass Inc. brainmass.com April 3, 2020, 10:40 pm ad1c9bdddf
The selected organization is the leading corporation in the fortune 500 called Walmart Company. It is known as an organization that has strategically aligned its operations so that the esteemed clients can be able to save money and live better. This has given the consumers of the organization the required satisfaction as they are enabled to save money while purchasing their needed goods. The economic decision making strategies that are used by the organization have been geared to ensure that the prices are kept low so that they attract more shopper in all the operating years. This has sustained the operations of the organization that serves customers more that 200 million times in a week in all the units that are located in the diverse 28 countries. The reason why this organization would be beneficial in the economic analysis is due to the strategic initiatives that have been put in place to ensure financial security to the company. The overall impact of the operations of the company gives it's a strong economic presence in unique business sector.
Analysis of the Company Decision Making Process:
Wal-mart being a global business unit, all its operations has been placed in a manner that ensures security of its operation. The decision making process in the organization is undertaken by the management body of the company with the incorporation of effective ideas from the personnel of the organization. The relationship that the organization has maintain with the financial community has led to the generation of effective ...
The competitive analysis and business cycles are examined