Understanding The Economics of Business

Book – Arnold, R. A. (2019). Economics (13th ed.). Cengage Learning.

For your “Complete” assignment, you are to write a COMPREHENSIVE APA analysis paper including knowledge you gained from the Read and Attend throughout the course (including Unit 5) to address the questions and statements below. A minimum of three scholarly sources are required, and all sources should be cited and referenced in APA format.  Do not self-plagiarize from the previous weeks. 

Select a Fortune 500 company from https://fortune.com/fortune500/. Research the company’s most recent annual report. You might find easy access to your company’s annual report at https://www.annualreports.com/. 

Identify background information on the company, including the company name, ticker (stock) symbol, GICS Sector, and GICS Sub Industry.
Summarize the products the company produces and sells, and who their target customers are.
Describe factors that could shift the demand curve for the company’s product(s) (see the risk factors discussed in the K-10).
Describe factors that could shift the supply curve for the company’s product(s) (see the risk factors discussed in the K-10).
Describe whether the company’s product(s) would be expected to have an elastic demand or inelastic demand.
Discuss the firm’s profitability with an explanation of the difference between accounting profit and economic profit.
Examine the costs the company incurs and discuss whether the majority of costs are fixed or variable in nature.
Describe the market structure that best describes the market the firm is in.
Analyze how the market structure affects the profitability and pricing power of the firm.

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