QuestionQuestion

Choose a particular industry and a product or a service that the industry produces or performs . Identify the factors that will influence the demand function and the supply function of the chosen product or service. Prepare the demand equation and the supply equation including all the factors that you have identified. Analyze all the factors on the light of managerial decision making, and under the profit maximization strategy. Analyze the market structure in which your business is operating.
Final paper must be typed, double spaced, with a one-inch margin on all sides. The paper must be no less than 5 pages and no more than 8 pages.

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The E-learning industry has gained renewed interest in recent years and the global market is still in its infancy. New technologies are promising to “revolutionize” education. One technology is termed “adaptive learning” and has its roots in artificial intelligence. This paper analyzes the supply and demand economics of a relatively new product that is gaining interest: the adaptive learning platform (ALP). It is based on a “big data” paradigm similar to that of Google and Facebook, but is applied to the education space. As of now there is however, no clear market leader. In some senses the ALP provides and educational service for end-users. In another sense the ALP is a product, a platform for intermediaries. Here we treat the ALP as a service and analyze the demand of the end-users and supply from intermediaries.
Within the broader market for e-learning, segments can be based on application and include professional education, enterprise/business education, NGO’s and associations, governments, and healthcare. Segments can also be based on learning markets and include self-paced E-learning, mobile learning, virtual classrooms and webinars, collaboration based learning, social learning, simulation based learning, game based learning. These alternative modes are important when analyzing demand for the adaptive learning platform.
Demand Factors
In general, factors that will influence the demand function for any given product or service include income, tastes, number of buyers, prices of related goods and expectations regarding future prices.
Educational products and services have been labeled an inferior good: as incomes increase, there is less need for education, and when they can’t find a job, they go to school. On the other...
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