Simplified guide for assignment
The assignment report should be supported by in-text citations that
correspond to the reference list.
1(a)
1(b)
Pick ONE clear product.
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Give a simple but complete explanation:
o What the product does
o What problem it solves
o Key features that make it useful
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If your business sells smartwatches:
o Function: tracks health, measures heart rate, provides notifications,
etc. (Apple, 2025)
Possible rationales to include:
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1(c)
High demand or growing market trend
Profitability potential
Market gap or unmet need
Competitive advantage
Others
Choose ONE(1) market structure
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Perfect competition
Monopoly
Monopolistic competition
Oligopoly
Describe the characteristics
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Number of sellers
Barriers to entry
Level of product differentiation
Price control / pricing power
Competition level
Information transparency
Others
Explain each characteristic and give examples
2(a)
Identify THREE (3) main factors for each demand and supply and give explanations.
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Relate the factors to your industry
o E.g. Input prices for coffee industry: price of coffee bean
2(b)
Explain how these factors affect equilibrium price and quantity.
3 (a)
Describe FOPs needed and give all the examples (inputs) related to your business.
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Put them under C.E.L.L.
o E.g. labour: barrista, manager
3(b)
Group the inputs into fixed and variable inputs. Explain why.
4(a)
Research and find out all the competitors.
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4(b)
Identify degree of elasticity. Explain why.
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4(c)
You may refer to question 1(c)
Discuss how type of PED affect your total revenue.
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4(d)
Discuss their strengths and weaknesses in details.
If elastic, what happen to revenue when you reduce price?
If inelastic, what happen to revenue when you reduce price?
You can research how you price your product, costs, and profits.
Identify THREE(3) non-price competition
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Packaging: Definition, how you implement on your product, what material,
etc.