Supply and demand for NIKE

 

 

Order Number			45471455714
Type of Paper			Essay
Writer Classification Level			Undergraduate
Style of Writing			MLA/APA/CHICAGO/
Sources and References			5
Number of Pages			4
Paper Instructions ECO 201 Milestone Two Guidelines and Rubric The purpose of this milestone is for students to begin their firm analysis from a microeconomic perspective, applying concepts learned in Modules One, Two, and Three. Specifically, students will examine the supply and demand conditions for the goods or services the firm produces, paying special attention to how sales and product development have evolved over time. Students will then apply the elasticity concept to determine how the price elasticity of demand for the firm’s goods or services would be categorized, and they will examine what that suggests for the firm’s ability to increase or decrease prices. Prompt: Submit a draft of the supply and demand conditions (Section II) and price elasticity of demand (Section III) of your research paper, including all critical elements listed below. You will analyze data on firm sales and in the market overall to identify trends and inform your recommendation for the firm’s future actions. You will also use available data to determine the price elasticity for the goods or services your firm produces and explain the factors that influence consumers’ reactions and the firm’s pricing decisions. Specifically the following critical elements must be addressed: II. Explore the supply and demand conditions for your firm’s product. a) Evaluate trends in demand over time and explain their impact on the industry and the firm. You should consider including annual sales figures for the product your firm sells. b) Analyze information and data related to the demand and supply for your firm’s product(s) to support your recommendation for the firm’s actions. Remember to include a graphical representation of the data and information used in your analysis. III. Examine the price elasticity of demand for the product(s) your firm sells. a) Analyze the available data and information, such as pricing and the availability of substitutes, and justify how you determine the price elasticity of demand for your firm’s product. b) Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your guide. c) Assess how the price elasticity of demand impacts the firm’s pricing decisions and revenue growth. Rubric Guidelines for Submission: Your paper must be submitted as a two- to three-page Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and sources cited in APA format. Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value Conditions: Impact Effectively evaluates trends in demand over time and explains their impact on the industry and the firm Evaluates trends in demand over time, but evaluation is ineffective or does not explain their impact on the industry and firm Does not evaluate trends in demand over time 18 Conditions: Firm’s Actions Analyzes information and data related to the demand and supply for the firm’s product(s) to support recommendation for the firm’s actions and includes graphical representation of data and information Analyzes information and data related to the demand and supply for the firm’s product(s), but information and data do not support recommendation for the firm’s actions or do not include graphical representation of data and information Does not analyze information and data related to the demand and supply for the firm’s product(s) 18 Price Elasticity of Demand: Analyze Analyzes the available data and information and justifies how the price elasticity of demand for the firm’s product was determined Analyzes the available data and information, but does not justify how the price of elasticity of demand for the firm’s product was determined Does not analyze the available data and information to determine the price elasticity of demand 18 Price Elasticity of Demand: Consumer Responsiveness Explains the factors that affect consumer responsiveness to price changes for the product using the concept of price elasticity of demand as a guide Explains the factors that affect consumer responsiveness to price changes for the product, but does not use the concept of price elasticity of demand as a guide Does not explain the factors that affect consumer responsiveness to price changes for the product 18 Price Elasticity of Demand: Pricing Decisions Accurately assesses how the price elasticity of demand impacts the firm’s pricing decisions and revenue growth Assesses how the price elasticity of demand impacts the firm’s pricing decisions and revenue growth, but assessment is inaccurate Does not assess how the price elasticity of demand impacts the firm’s pricing decisions and revenue growth 18 Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 Earned Total 100%
	Distinguished (100%)	Proficient (85%)		Basic (70%)	Below Expectations (50%)	Non-Performance (0%)
Thesis Statement	Raises the strongest   objection to the thesis presented in the assignment. The objection is strongly grounded in research and logical reasoning.	Raises a plausible objection to the thesis presented in the assignment. The objection is mostly grounded in research and logical reasoning.		Raises an objection to the thesis presented in the assignment. The objection is somewhat grounded in research and logical reasoning.	Attempts to raise an objection to the thesis presented in the assignment. The objection is minimally grounded in research and logical reasoning.	The objection to the thesis is either nonexistent or lacks the components described in the assignment instructions.
Counter Argument	Provides a strong, thorough rebuttal to the objection. The rebuttal effectively demonstrates that the thesis can withstand the objection and applies the principles of charity and accuracy.	Provides a rebuttal to the objection. The rebuttal mostly demonstrates that the thesis can withstand the objection and mostly applies the principles of charity and accuracy.		Provides a limited rebuttal to the objection. The rebuttal somewhat demonstrates that the thesis can withstand the objection and somewhat applies the principles of charity and accuracy.	Attempts to provide a rebuttal to the objection; however, the rebuttal minimally demonstrates that the thesis can withstand the objection and does not apply the principles of charity and accuracy.	The rebuttal is either nonexistent or lacks the components described in the assignment instructions.
Conclusion	Provides clear and concise closing remarks that comprehensively summarize the essay. The remarks consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problem.	Provides closing remarks that summarize the essay. The remarks mostly consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problem. The closing remarks are somewhat unclear.		Provides closing remarks that minimally summarizes the essay. The remarks minimally consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problems. The closing remarks are unclear and/or vague.	Attempts to provide closing remarks that summarize the essay; however, the remarks do not consider the broader controversy and/or further research that could offer additional insight into the moral solution of the business problem. The closing remarks are unclear and vague.	The closing remarks are either nonexistent or lack the components described in the assignment instructions.
Written Communication: Context of and Purpose for Writing	Demonstrates methodical application of organization and presentation of content. The purpose of the writing is evident and easy to understand. Summaries, quotes, and/or paraphrases fit naturally into the sentences and paragraphs. Paper flows smoothly.	Demonstrates sufficient application of organization and presentation of content. The purpose of the writing is, for the most part, clear and easy to understand. There are some problems with the blending of summaries, paraphrases, and quotes. Paper flows somewhat smoothly.		Demonstrates a limited understanding of organization and presentation of content in written work. The purpose of the writing is somewhat evident but may not be integrated throughout the assignment. There are many problems with the blending of summaries, paraphrases, and quotes. Paper does not flow smoothly in all sections.	Organization and presentation of content are extremely limited. The purpose of the writing is unclear. There is little or no blending of summaries, paraphrases, and quotes. Paper does not flow smoothly when read.	The assignment is either nonexistent or lacks the components described in the instructions.
Written Communication: Control of Syntax and Mechanics	– Displays meticulous comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains no errors and is very easy to understand.	Displays comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains only a few minor errors and is mostly easy to understand		Displays basic comprehension of syntax and mechanics, such as spelling and grammar. Written work contains a few errors which may slightly distract the reader.	Fails to display basic comprehension of syntax or mechanics, such as spelling and grammar. Written work contains major errors which distract the reader.	The assignment is either nonexistent or lacks the components described in the instructions.
Written Communication: Required Formatting	Accurately uses required formatting consistently throughout the paper, title page, and reference page.	Exhibits required formatting throughout the paper. However, layout contains a few minor errors.		Exhibits limited knowledge of required formatting throughout the paper. However, layout does not meet all requirements.	Fails to exhibit basic knowledge of required formatting. There are frequent errors, making the layout difficult to distinguish as required style.	The assignment is either nonexistent or lacks the components described in the instructions.
Written Communication: Word Requirement	The length of the paper is equivalent to the required number of words.	The length of the paper is nearly equivalent to the required number of words.		The length of the paper is equivalent to at least three quarters of the required number of words.	The length of the paper is equivalent to at least one half of the required number of words.	The assignment is either nonexistent or lacks the components described in the instructions.
Written Communication: Resource Requirement	Uses more than the required number of scholarly sources, providing compelling evidence to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment.	Uses the required number of scholarly sources to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment.		Uses less than the required number of sources to support ideas. Some sources may not be scholarly. Most sources on the reference page are used within the body of the assignment. Citations may not be formatted correctly.	Uses an inadequate number of sources that provide little or no support for ideas. Sources used may not be scholarly. Most sources on the reference page are not used within the body of the assignment. Citations are not formatted correctly.	The assignment is either nonexistent or lacks the components described in the instructions.

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