APPLE

Apple! Wait wait, not that apple that we actually eat. I am talking about Apple’s Ipho…..

Yes now you got what I am talking about “Apple’s iphone). Well hello everyone, I am again back with a different activity. Today I will be trying to identify economics concepts in very renowned brand Apple. So I shall not take so much time in other things. Let get started.

Oligopoly

Oligopoly is one type of market. In oligopoly there are only few seller and many buyers.

So if we talk about Apple company than earlier company had no competitors in market but now days some of the mobile company has start giving competition to Apple like Samsung, one Plus.

These are the companies which is giving competition to Apple.

Incentive

Incentive change behaviour of people. Whether it is behaviour of purchasing or doing any work.

So in case of Apple, you must be remember Apple didn’t use to give incentive or discount earlier days. But since Apple start getting competition from some of the company. It also start giving discount and incentives.

Law of supply

Law of supply says, when demand changes quantity supply of that products also changes.

Do remember those days when apply was newly come to market. One used to stands hours and hours to buy the phone. Because this was so new in market, so people wanted to experience it. There was huge demand for apple’s mobile. But apple was not able to supply upto the demands.

But now apple is capable enough to supply its all demand.

Price Mechanism 

According to Economics times,”Price mechanism refers to the system where the forces of demand and supply determine the prices of commodities and the changes therein. It is the buyers and sellers who actually determine the price of a commodity”.

So in case of Apple, why apple keep its price always high in market. Because demands are high in market.

Market Base

Market is total no. of customers in particular region who keep willing to use the products and services. And market base rate also determine on basis of customer willingness to pay for a particular products. So price of product are differ market wise.

So in case of apple, apple keeps different price of its products in different country. If price of apple x is different in America and different in india and aferica.