Supply and Demand

In: Other Topics

Submitted By bemberley
Words 797
Pages 4
This paper will what the major demand and supply drivers for a company, and what those shifters may be. It will also cover what will cause the supply and demand curves to shift over the next three to five years. Finally it will cover based on the supply and demand curves what is likely to happen to the prices and quantities produced/sold in the next three years. Does this suggest sales increase or decrease and do some of the forces oppose each other. “Elavon has been a leader in processing payments for over twenty years, leveraging the world’s best technologies for our customers, from large worldwide enterprises to locally-owned small businesses. They extend powerful payment solutions for all payment types and processing environments, ensuring that your business, whatever the size, remains well connected. They are consistently rated among the top 5 global payment providers, and our robust, redundant processing platform and end-to-end advantage ensures commerce for merchants around the world. Backed by the strength and stability of U.S. Bank, Elavon delivers flexible, secure and innovative solutions while providing value at every point in our customer and partner relationships.” With this being what Elavon does some of the major demand and supply drivers are:
• growth of other businesses
• the use of credit cards/debit cards
• availability of the internet
• need for electronic payments
The Law of Demand says, “The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. In other words, the higher the price, the lower the quantity demanded. The amount of a good that buyers purchase at a higher price is less because as the price of a good goes up, so does the opportunity cost of buying that good. As a result, people will naturally avoid buying a product that will force them to…...

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