Posted: November 30th, 2022

Demand and supply with diagrams

Assignment Brief
Course/Programme: BA (Hons) Marketing Management with Foundation year
Level: 4
Module Title: Business and Economics
Module code TMDMMT103
Module Leader: Sonal Jain
Assignment title: Case Study Report
Assignment number: 1
Weighting: 40% of overall module grade
Date given out: 01/10/2022
Submission date: 04/12/2022
Eligible for late submission (3
working days, with penalty)?
Yes
Method of submission: Online only
Special instructions for
submission (if any):
Date for results and feedback: 15 January 2023
Learning outcomes assessed: • Describe and discuss microeconomic concepts relating
to business decision-making.
• Employ economic concepts to the creation of tactical
(short-term) and strategic (medium to long-term)
decision-making.
Assignment brief:
Write a report answering the questions of this brief. The report should be 1,000 words (±/-
10%) total length. Additional guidance will be provided separately.
Due to the Covid-19 Pandemic it has not been possible for many consumers to go abroad on
holiday and there was a huge demand for UK holidays. This is called ‘domestic tourism’ but
often referred to as a ‘staycation’.
There is an argument that due to uncertainties of Covid spreading in other countries of the
world there will be worries and a lack of confidence by many to go abroad, and likely that a
considerable number of consumers will opt for domestic tourism again. Coupled to this there
is the likelihood of overseas tourists coming to the UK to visit.
As a result of this is likely that ‘demand’ for UK holidays will exceed the available ‘supply’.
Task:
Using appropriate economic theory respond to the following questions concerning UK
holidays. Diagrams should be used where appropriate.
1. Explain why an increase in price may affect demand
2. The Government often intervenes in the economy in the case of market failure. Is this
a case of market failure?
Take care to present clear arguments that are supported by economic theory and
appropriate evidence from academic and other sources. Please remember this assignment is
NOT about your personal opinions on Covid-19, or how the government has dealt with
lockdowns, or whether people should be able to go abroad.
You should consider:
• Supply & Demand / Pricing Mechanism (with diagrams)
• Demand and Supply -Side Decisions
• Market Structure & Failure
Assessment Guidance:
Your work should be professionally presented as a report. This means:
• Professional, clear writing style – no informal language/slang; no writing in the first
person (I, we, you); no contractions (it’s, can’t, aren’t etc.); a formal tone throughout
• Word processed with the font ideally being Times New Roman, Arial or a similar
style, 12 points
• Diagrams should be used where appropriate
• You should not include table of contents or recommendations
• Electronic copies must be submitted in Microsoft Word format only (.doc / .docx)
• You need to provide evidence to support your claims – this must be fully
referenced in accordance with the UoS Harvard style.
Your report should be 1,000 words (±/-10%) total length. Take care to present clear
arguments that are supported by economic theory and appropriate evidence from academic
and other sources. It is expected you will use the course textbook plus 1 other academic
source as well as news or other sources relating to this report.
It is expected that your work should not be too descriptive but should focus on critical and
analytical discussion.
Make sure it is clear to the reader ‘how you know’ the things that you claim to be true –
where have you found your information? This means you need to reference sources that
you use – think about acknowledging the contribution that others make and using evidence
to support and strengthen claims that you make. All references should be presented using
the University of Suffolk Harvard format
(http://libguides.uos.ac.uk/friendly.php?s=academicskills/referencing).
Further guidance will also be provided
Employability Skills – The application of economic theory to real world cases is designed for
students to improve communication, problem solving and decision-making skills.
Marking Guidance
You are encouraged to make use of this table, include the headings in your report, and take
note of the approximate word count.
Heading To include % (suggested word
count)
Introduction What is your report going to be
discussing?
10% (100 words)
Pricing Mechanism
Supply / Demand / Equilibrium
Surplus / Shortages
Shifts / Movements
Elasticity
Make it relevant to the task
Shifts / Elasticity of product
Determinants of demands
Supply-side decisions / Business
strategy
(Diagrams are essential)
40% (400 words)

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