Business Economics

BU5021 Business Economics Assessment Answer

BU5021 Business Economics Assessment Answer

In the UK, several universities are engaged in providing undergraduate, graduate, and doctorate education in the field of business economics. Your course structure can vary depending on the level of education you have selected. For example, if you are a postgraduate student studying business economics you will cover various units and BU5021 is one of them. This unit mainly concentrates on the business’s economics that allows you to understand business issues and economics. Under this unit, you come to learn about consumer behavior, monopoly, pricing, functioning of markets, costing and production problems, economic growth, and economic policy.

Today, we along with our economics assignment help experts going to discuss BU5021: Business Economics assessment task. University provides three topics and you are required to draft an essay for anyone as per your knowledge and interest. The topics are:

BU5021 Business Economics assessment task

The essay should not be more than 1500 words in length excluding diagrams and tables. Also, the bibliography will be counted in your word count. Being an essay writer, you must explain the economic concepts, theories, and applications to real-world business problems. To gain good marks students must use sources like academic articles and journals rather than Wikipedia.

Wondering how to structure BU5021: Business Economics Essay? Read further to know!

Ideal Format For BU5021: Business Economics Assignment

There is no specific structure for writing an academic essay. It can depend on the type of essays you are going to write. Our business economics assignment expert has opted ‘Is Apple testing customer’s loyalty with iPhone prices?’ topic to complete BU5021 assessment. However, the ideal format for BU5021: Business Economics essay would be like:

  1. Introduction

The introduction paragraph must be both informative and engaging. It is written with a purpose to:

  • Attract the interest and attention of the reader
  • Provide background and context of the topic
  • Focus on the central idea of an essay

According to our assignment help experts, while writing the introduction of your essay, describe the background of the company i.e. Apple Inc. Also, include brief details of what you are going to discuss in the essay. For example,

format of BU5021 Business Economics essay

  1. Main Sections including subheadings

It is an important part of an essay whether you are writing an argumentative, narrative, or descriptive essay, and so on. It is composed in a specific way like well-organised information, organising paragraphs logically, etc. While writing this section, you must be focused on the following aspects:

  • A soothing topic sentence
  • Detailed supporting evidence
  • Include examples
  • Cohesion and unity
  • Shift between paragraphs
  • Conclude your sentences which ties your information with the central point

It does not matter which essay is being written, the body sections should be well-developed and organised properly. Everything written in the body paragraphs should be relevant to the central theme and supported with examples, quotes, and statistics.

What to be included in BU5021: Business Economics Body Paragraphs?

Being a student, you must define Economics concepts and theories about iPhones. You can explain the Elasticity of demand, what is Apple’s pricing strategies, etc. Let’s have a look:

Elasticity of Demand

In the field of economics, the term elasticity of demand is the variations in the amount which reacts to change in price. The key aspect of demand elasticity is alternatives to an existing product or service. The availability of more substitutes for a product turns out to be more elastic. Concerning Apple iPhones, its substitute is inelastic because of innovations and uniqueness.

key aspect of demand elasticity

The Elasticity of demand for iPhone

In the above diagram, you will analyse that the price elasticity of demand for Apple iPhones is more perpendicular which means that there is no much impact over the demand even if the price of the product increases. The reasons can be great customer support, excellent design, distribution, and worldwide existence.

Apple’s pricing strategy

The second sub-heading you can include in BU5021: Business Economics essay is Apple’s pricing strategy. Here, you must be focused on pricing strategies. As per our business economics expert’s research, Apple’s pricing strategy is based on skimming pricing where the price of the product is kept high to earn maximum profit. However, this strategy was useful only in the initial stage. According to few analysts, it is believed that high pricing is an important factor to differentiate yourself from your competitors. Therefore, you must discuss Apple’s pricing strategy in-depth in this section.

An example is given under in a snapshot:

BU5021: Business Economics essay

  1. Conclusion

Writing the conclusion for an essay can be seen as an easy task but to be honest, it may need extra effort than your expectations. That is why; it is important to give extra attention while concluding your assignment. Our economics assignment experts have attached a snapshot under for your reference:

conclusion for an essay

  1. References

In academics, references are used for multiple reasons such as to avoid plagiarisms, give credits to the organisation or writer from whom you have collected ideas or sentences. There are different referencing styles like APA, Harvard, Chicago, MLA, and so on. References are required mainly when you use words or ideas from the following:

  • Magazines and newspapers
  • Brochures and pamphlets
  • Personal interviews
  • Lectures
  • Advertisements, television programs, or films
  • Discussion forums, letters, or email

In the above-given assignment, you must use the Harvard referencing style. Therefore, it is important to be well-versed with it, if not you might need help from assignment help experts. But before that have a look at the below-attached file which will provide an idea to reference your essay in Harvard referencing style.

BU5021 Business Harvard referencing style

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About the author

Archer Wilson

Archer Wilson is an academic blogger who has been working with Sample Assignment for over five years, holding a Ph.D. degree in English Literature. Apart from being a blogger, he also works as an Australian assignment help expert for English in his idle time.

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