The Economy and Society Individual Assignment The term report is an individual assignment. You must select one company that produces a consumer good or service; you could pick anything from a local pizza shop to a major airline.
You will construct a profile of its place in the economy. In addition to providing a brief introduction to the company’s operations and product(s), you should answer the following three questions and provide a justification for your responses:
1) What type of market structure characterises this firm’s industry? Why do you believe that is the case?
2) What type(s) of consumers does the company sell its products to? How would you describe consumer demand in this market? Are consumers likely to be sensitive to price changes or to changes in other factors?
3) How does the market structure of the industry affect the price that the firm charges for its products? Does the firm have a clear pricing strategy?