ECS1601 ASSIGNMENT 08 SEMESTER 2 2024 One of the objectives of the South African Reserve Bank is in ation targeting, and the in ation target for South Africa is between 3 and 6 per cent. There happe...
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ECS1501 Assignment
5 (COMPLETE
ANSWERS) 2024
(654552) - DUE 22 July
2024 ; 100% TRUSTED
Complete, trusted
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explanations.
ADMIN
[COMPANY NAME]
, Question 1 (12 marks) Maximum word count: 100 words Giant,
the world’s leading brand of high-quality bicycles and cycling
gear, announced that their pre-tax profit has decreased by almost
50% while their sales were down by approximately 16%. Watch
the following excerpt from The Wild Ones Podcast
Ep.41produced by Cade Media (attached below) and answer the
following questions. (i) Which of the presenters best describes the
market condition that Giant Bicycles faces and explain why you
agree with him or her? (ii) Draw a diagram of the bicycle market
that illustrates the market conditions discussed in the podcast. (iii)
Explain the adjustment process to the new equilibrium position in
the bicycle market.
(i) Identifying the Presenter: Listen to the podcast excerpt
carefully to determine which presenter best describes the market
conditions faced by Giant Bicycles. Look for insights into factors
affecting their profit decline and sales decrease. Choose the
presenter whose analysis aligns closely with the specifics
mentioned about Giant's situation.
(ii) Diagram of the Bicycle Market: Create a diagram that
illustrates the market conditions discussed in the podcast. This
could include shifts in demand or supply curves, changes in
equilibrium price and quantity, and factors impacting Giant
Bicycles specifically (e.g., shifts in consumer preferences, changes
in input costs, or competitive factors).
(iii) Explanation of Adjustment Process: Describe how the
bicycle market adjusts to a new equilibrium position. This
involves discussing the mechanisms by which changes in supply
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