CLASS WORK : GRAPH ANALYSIS
Assignment: A tale of two businesses = Comparative analysis of 2 Business of similar industry in different geographical locations
The demand curve explained the relationship between price of products and quantity of products. The down slope graph is the characteristic to indicate it is a demand curve.
In the first class work, I'd grouped with Adrian Seow, mBarrack. We are to show the shifts in demand curve when if fastfood as it is becoming unpopular among consumer. As the fastfood is becoming unpopular, which means the demand for fastfood has decrease, since the price remain constant. The graph moved to the left vertically.
During this semester, we been for a trip to Malacca to do an interview of a business. We are to compare two businesses in the same industry but different geographical location. Me and my group member : Kelvin Cheong Cheng Lee, Chan Hui Yong and Adrian Soew. During the trip we decided to interview a soybean local business during the time we were finding kopitiam to interview and we realize this particular soybean business worth us interview. The story behind the business and the whole family involving in the business, make us really want to revisit there during the next trip.
During the second trip, we went to SS15, Subang Jaya and interviewed the father and son's business. Unlike the Bukit China Soya Bean, the business is set up in a truck. It's mobile and the business open during the afternoon. They prepare and make soya bean in the early morning. They dont only sell soya bean, but other selections such as dim sum, toufu fa.
Soya King from SS15.
Soya King's packaging.
Reflective Essay / Economics
Economics might be one of the interesting subject for me in this semester. I never really learnt about economics before this and I never really thought it is this interesting.
Firstly, let say demand curve, supply curve and market equilibrium. We all know that the more the price cheaper the more demand from customer, of course comparing with the same quality; but we never know that if supplier can earn more they might learn more. As I never be a supplier before (hopefully in near future), I didnt know that this is the relationship between demand and supply to kept the market balance. With this better understanding in economics, it's useful that if one day I wanted to start up a business. Who say one have to just limited by one job?
I also have a better understanding about type of markets in real life. No matter monopoly or oligopoly, it's important to gain these basic knowledges when we are going to be one of the member in the big society. No matter working as an architect, artist, engineer, businessman, film maker, dancer, pokemon trainer or accountant, we have to have these knowledge to ensure we can cope with other people in future.