Throughout the whole second semester of taking Principle of Economics subject, I have basically learned more about the fundamental issues on how the economy world works. Economy is all about money and cash flow in the any market field, on how individuals make decisions to use and allocate scarce resources. After going through all the chapters, my favorite chapter would be Price Theory-Demand. Because I get to understand about how the demand of a certain product was affected by various factors. And with the quantity of demands given will decide how the business will go. I will apply this topic as to be the most applicable to my everyday life. For example, if I were to open a business in the future, I would apply the topic Price Theory-Demand. Hence, I will be able to adapt the with market changes and to know what steps to apply when there are various factors which will reduce the customers' demand on my product.
Economics Report
Objectives: Write out two comparative essay about two businesses in the same market field.
-----------------------------1st business to compare: Italiannies Pasta Pizza & Vine-----------------------------
We have decided to pick this business and we did the interview at one of the branch at Paradigm Mall.
Here are some pictures that we have taken after completing the interview.
- This will be the front entrance with the name of the restaurant above.
- This is a group photo of us, with Ian from the left comes to the manager on the right, then Edwin and lastly me on the right.
- This is a bar section where bartenders prepare drinks and coffee for the customers.
- This is the outdoor kitchen where chefs only prepare pizzas and other dishes that only uses dough.
- These two pictures will their menu as most of the dishes are italian based cuisines which includes appetizers and main course meals.
-------------------------2nd business to compare: Who's Bryan Coffee and Cuisine----------------------
We have decided to pick this business and do an interview too with this branch at Penang.
Here are some pictures that we have taken after the interview
- This is the front entrance of the restaurant.
- A group photo of us with two of the restaurant staffs.
- These two pictures are the environment outside the restaurant. Comfortable place to sit back and relax at an open air environment.
- A variety of cakes and pies that are offered.
- This is the menu which is based on western and local cuisines, which includes appetizers and set meals.
Thus, the two businesses from above are the ones we picked to make a comparison regarding on their business into a report.
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