University level, economic field knowledge needed
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Economics for Commerce
MARKETS IN ACTION
Word length(10% allowance unless stated otherwise):
Due in 48 hours
Writea 1,000 word essay using the tools of economic analysis to describe, andwith relevant diagrams to illustrate, the changes in the product market that could result from advertising.
Inyour essay refer to ALL of the following points:
*The factors that influence the price elasticity of demand.
*Why and how advertisers try to change the consumer demand of a product,and how could they change the consumer demand curve?
*Describe two real-life examples of advertisements and what you thinkthe strategies are meant to achieve in each case?
*Overall, what are the costs and benefits of such market strategies to (a)consumers and (b) the company supplying the product?
(a)clarity of argument; (b) use of diagram(s) as and when necessary; (c)appropriate writing
styleto adequately convey the answer; (d) evidence of reading outside the text book;(e) correct and complete referencing of all sources.
Criteria for marking in order of importance:
(a)Content: relevant to the question, sound interpretation andunderstanding of economic theory.
(b)Clarity of argument: logical thinking, clarity and coherence.
(c)Use of relevant diagrams to illustrate
(d)Evidence of reading outside of text book
(d)Use of references: The reference list and citation of references withinthe text of your assignment should follow the Harvard format. You mustprovide at least 6 references which may include your textbook.
(e)Writing style: correct grammar and spellings; no long sentences and pompouswords. Use of quotations, if necessary, must be prudent.
(f)Presentation: Double or 1.5 spacing on one side of plain white paper,and don't forget page numbers.
Useof headings in your assignment is allowed.
Useof dot points should be kept to a minimum. Only use dot points when you need tolist.