https://padlet.com/s10172167/b7zgrs3yg0tn Megan, Sinyee, Mavis, Moses, Darren en-us 2016-11-25 05:17:27 UTC 2017-05-17 10:52:09 UTC hello@padlet.com s10172167 https://padlet.com/s10172167/b7zgrs3yg0tn/wish/144913584 - We can see a drop in the demand for Apple products.

- This shows that there is a decrease in demand for Apple products which might be caused by the demand determinants. Determinants like the money income of consumers. A decrease in the money income of the consumers would mean that the demand for Apple products (normal goods) would also decrease. This also depends on the number of buyers in the market. If there is a decrease in the number of buyers, the demand for the good also decreases.

- Now that the demand is reduced, Apple is slowing down their production levels as the amount of shoppers lower dramatically. 

- The determinants that cause demand to fluctuate are 'Tastes and preferences' and 'Number of buyer in the market'. It is based on tastes and preferences because sales in general for all products would decrease after the holiday season. 

- However, in order to prevent an oversupply of Apple products, Apple ensures that it decreases its production as well. This ensures market equilibrium. When there is market equilibrium, the price of Apple's products would not fall as quantity demanded is equal to quantity supplied. All parties in the market are satisfied. Once equilibrium is attained, there is no tendency to change unless demand and/or supply were to change.

]]> 2016-12-31 08:36:33 UTC https://padlet.com/s10172167/b7zgrs3yg0tn/wish/144913584 s10172167 https://padlet.com/s10172167/b7zgrs3yg0tn/wish/144935172 - Samsung and Apple have been losing control of the smartphone industry, facing significant decline in sales in the third quarter of 2016.

- Even with a new phone being launched, Samsung still got hit by a massive drop in market shares. This is due to the recent cases of the devices overheating and exploding. 

- Although Apple has had 3 successive declines in sales as fewer consumers buy their products causing their market share to fall. 

- The decline of Apple and Samsung is being replaced by 3 Chinese companies. Huawei - which is now the world's 3rd largest manufacturer, Oppo and BBK.

- Apple unlike Samsung is hoping to increase their sales again with the release of the Iphone 7 

The type of market structure for the smartphone industry is oligopoly – an industry dominated by a few firms, e.g. 5 firm concentration ratio of > 50%. ]]> 2017-01-01 14:57:29 UTC https://padlet.com/s10172167/b7zgrs3yg0tn/wish/144935172 moses28tangg https://padlet.com/s10172167/b7zgrs3yg0tn/wish/144935641 - Demand for Apple's iPhone 7 increased as Samsung's phones faced a production fault causing some Samsung phones to explode. 

- Due to the availability of substitutes in the market, e.g. the different types of smartphone brands like Apple, Samsung, Xiaomi. When there is an issue with a particular brand of phones, buyers who normally get that brand would automatically switch and source for another smart phone company. 

- Hence from this case it can be seen that the availability of substitutes in the market has caused sales of Apple's iPhone 7 to rise while at the same time cause Samsung's Note 7 to fall.

- Resource price is a determinant of supply. When Apple makes a price cut on their suppliers, the cost of manufacturing iPhones decreases. Apple would now be able to manufacture more iPhones at a lower price and hence, supply of iPhones in the market would increase.]]> 2017-01-01 15:20:20 UTC https://padlet.com/s10172167/b7zgrs3yg0tn/wish/144935641