https://padlet.com/Marcuslau/pvyh1sytehn3 Group members: Marcus , Ignatius , Wei Jun , Samuel en-us 2016-11-18 06:09:48 UTC 2017-02-02 15:20:43 UTC hello@padlet.com Marcuslau https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138614971 The car industry]]> 2016-11-18 06:18:17 UTC https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138614971 iggyley https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138853002 Factors affecting the demand for cars:  
1) Number of Buyers
2) Price of Related Goods (Petrol)

In summary, low loan rates and low oil prices are encouraging the sale of cars in the automobile industry. Low loan rates means more people can borrow money at more affordable rates, increasing the total number of potential buyers. Likewise, low oil prices means petrol is cheaper and this makes maintainance a lot more affordable.]]> 2016-11-19 02:03:59 UTC https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138853002 iggyley https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138853007 Jobs are factors/resources price
Loss of jobs leads to decrease in cost of production.
Producers, in this case carmaker Volkswagon, initially faced higher cost of production. If producers incur higher cost of production and if the producers were given the same price, they will be less wiling and able to sell at all price levels. Therefore there will be a leftward shift in the supply curve.
Hence, in order to ensure their targeted profit margins are met, Volkswagon cut 30,000 jobs to reduce their cost of production. ]]> 2016-11-19 02:04:18 UTC https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138853007 iggyley https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138854304 Factors affecting the demand for cars:
1) Price of Related Goods (Petrol)

This article published in October 2016 tells us that oil prices are recovering steadily from the start of 2016, meaning that maintaining a car is more expensive. Hence, there will be a lower demand for cars. Hence leading to a leftward shift on the demand curve.

]]> 2016-11-19 03:03:30 UTC https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138854304 samuelchinhihaw https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138854979 Car manufacturing will cease to exist in Australia.
This will lead to decrease in supply of cars, hence, it may lead to a possible shortage in cars as there will be more demand for cars than supply. Therefore with a shortage of supply, there will be an upward pressure on car prices, causing car prices to increase. Thus, consumers will buy less in response the higher prices and producers will sell more until market equilibrium is achieved.]]> 2016-11-19 03:33:18 UTC https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138854979 omgitswj https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138862497 2016-11-19 08:54:18 UTC https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138862497 Marcuslau https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138877974 From this article,  it is stated that Ferrari and Rolls which were the best performers however, there was a -37.4 percent drop in sales for passenger cars.Thus, it can be concluded that the absolute value of price elasticity of demand is more than one which means that consumers are very responsive to the price change, and demand is price elastic.]]> 2016-11-19 14:51:33 UTC https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138877974 Marcuslau https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138878586 From this article, it is stated, that the Jaguar XE opens up a whole new market for us as it attracts customers as it is viewed as a luxury. It is also stated that BMW is another luxury brand which has seen its sales grow in 2016, although 2015 was an unusually low base for the German premium manufacturer. Thus if a good is considered a luxury, its demand will be more price elastic. ]]> 2016-11-19 15:01:47 UTC https://padlet.com/Marcuslau/pvyh1sytehn3/wish/138878586 ptc https://padlet.com/Marcuslau/pvyh1sytehn3/wish/145413919 Articles are points listed are ok.  Can you read in advance the market structures?  You can include the topic to extend analysis.
  - Mr Pon]]> 2017-01-05 06:27:50 UTC https://padlet.com/Marcuslau/pvyh1sytehn3/wish/145413919