Essays on Economics, Demand, Supply, and Market Failure Essay

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The paper "Economics, Demand, Supply, and Market Failure" is a good example of a macro and microeconomic essay.   Microeconomics deals with persons and business decisions. It involves analyzing decisions persons and businesses make concerning resource allocation as well as prices of goods and services. Microeconomics also takes in to account the government regulations and taxes as provided by the government agencies. Microeconomics mainly focuses on demand and supply as well as other factors such as elasticity, market efficiency and market failure that determine the price levels in an economy. This report will analyze how the company has used Microeconomics aspects to maximize its production and increase its capacity to position itself in the market.

This report will also evaluate how the article has applied the Microeconomics aspects. The article has used a number of microeconomics concepts and approaches and therefore this report analysis it using the bottom-up approach of the company in question. The article has used many theories of demand and supply. The business is facing stiff competition from the rival firms and it must find ways of producing and increasing revenue in order to sustain its market position.

This also involves looking for new ways of charging so as to increase its revenue. The focus company in the article is Sirius XM Radio; this is a communications and broadcasting company resident in Australia. It is one of the biggest radios in Australia and enjoys a good market share. Sirius XM Radio broadcasts through radio and also through the internet. Its major competitor is Pandora Radio Company, it has a significant influence ion the market. The title of the article is “ 2 Headwinds for Sirius XM Radio You Shouldn’ t Ignore” and it focuses on Sirius XM RadioCompany.

This company is in the communications and broadcasting industry. The article focuses on the rate increase and competition that Sirius XM Radio is facing. It also provides a going forward look for the company on how it can increase revenue generation and maintain its status in the market. Essentially, the article relates to the following microeconomic aspects; economics, demand and supply, and market failure.

References

Baumol, William, and Alan Blinder, Microeconomics: principles and policy, Cengage Learning, 2011.

Endres, Alfred, and Volker Radke, "Fundamental Concepts of Microeconomics," In Economics for Environmental Studies, pp. 43-97, Springer Berlin Heidelberg, 2012.

Gold, Harvey, and Steven Gold, "Beat the market: an interactive microeconomics simulation," the journal of economic education 41, no. 2 (2010): 216-216.

López-Calleja, José, "ECO 3101-INTERMEDIATE MICROECONOMICS–SPRING 2011,"

Mankiw, N, principles of microeconomics: Cengage Learning, 2014.

Meyer, Jan, and Ray Land, Overcoming barriers to student understanding: Threshold concepts and troublesome knowledge, Routledge, 2013.

Naughton, Helen T. "ECNS 201S, 01: Principles of Microeconomics." (2014).

Steinemann, Anne, Microeconomics for public decisions, askmar publishing, 2011.

Thampapillai, Jesuthason Dodo, and Jack A, Sinden, "Environmental economics: Concepts, methods and policies," OUP Catalogue (2013).

Zhao, Chunyan, and Dan Ling, "Case Teaching Method in the Application of Microeconomics," In Engineering Education and Management, pp. 515-518, Springer Berlin Heidelberg, 2012.

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