Demand Analysis
INTRODUCTION TO MARKETS If you've taken a course in Microeconomics or a one semester Economics course, you probably came away confused. All those curves. Concepts like price elasticity of demand. To get a demand model, economics has to assume away virtually all economic and business reality. Everything business majors spend 4-6 years learning. You can forget all that, if you haven't already. It is not possible to talk about demand and supply separately and then put them together to get an equilibrium market (industry) price. Definition of market. Innovators create markets and market niches. New products, cheaper products, improved products. Potential demand. Create demand. Typical analysis assumes market already created and producers compete solely on basis of price. New products - every new product is a separate market? Introduction to market structure and oligopoly. Types of markets. Supply side. Companies on both sides of markets in a supply chain. Retailers are between supp...