Methodology 2 (Recovered) (Recovered)

7/30/2019 Methodology 2 (Recovered) (Recovered)

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Introduction

The purpose of this research is to outline the different factors affecting Best Taste Pastries ability supply

in its current market structure. Also the researcher aims to provide reasonable recommendations to the

business that will help to minimize or eliminate these problems. In order to effectively outline and

analyse these factors the researcher also applies economic principles and theories. The research will

examine areas of all three modules in the syllabus including; background to supply and the central

problem of economics (from module 1), market structures (in module 2) and the rewards of factors of

production (from module 3). The research will first outline and analyse the factors which affect supply

including, taxes, technology, competition, cost of resources, products own price and natural disasters.

The research also aims to identify the positive and negative these factors may have on supply. Whether

the factors increase supply or decrease it.

Note: Throughout this study the terms bakery, firm, business, producer and seller have the samemeaning.


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Research Methodology

Throughout this study, the researcher uses both qualitative and quantitative data. Qualitative research

refers to an investigation in which the researcher attempts to understand some larger reality by

examining it in a holistic way or by examining components of that reality within their contextual setting.

The aim of qualitative analysis is a complete, detailed description. An advantage is that Individuals can

be studied in more depth as its strength is in uncovering more about peoples experience (why things

may be the way they are). Additionally, as qualitative research focuses on small groups, it can be less

expensive than quantitative research which may require large groups of participants or expensive

measurement tools. On the other hand, it is more difficult to determine the validity and reliability of

linguistic data. Additionally, it is harder to determine the extent of influence that the researcher had

over the results (e.g., through researcher bias). That is, there is more subjectivity involved in analysing

the data.

Quantitative research refers to an investigation in which the researcher attempts to understand some

larger reality by isolating and measuring some components of that reality without regard of their

contextual setting. Quantitative has its advantages and disadvantages. The advantage is that when the

research data is collated because its simply based on numbers its a lot easier to collate and place

together into a form of chart. Also when it comes to placing it into graphs and charts its a lot easier to

read, because if its placed into a pie chart its exceedingly simple to read. However with advantages

always come disadvantages. One of the disadvantages is that because its all based on figures, its not

always up to date. Its usually in constant need of updating because numbers change. Also, the picture

of the data which emerges from quantitative analysis is less rich than that obtained from qualitative

analysis.


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Description of sample size

Since Best Taste Pastries is the business being studied, interviews were conducted and questionnaires

were given out to employees and owner of the company. Two persons were interviewed, the owner of

the business and an employee that has worked there for over 17 years and the head of production. Also,

five questionnaires were distributed to and collected from employees who have worked at the company

for a number of years. Therefore a total of 7 persons assisted in the collected of data for this research.

These individuals were chosen because of their convenience, thus the convenience sampling method

was used. Convenience sampling refers to a statistical method ofdrawing representative data by

selecting people because of the ease of their volunteering or selecting units because of

their availability or easy access. The advantages of this type ofsampling are the availability and the

quickness with which data can be gathered. The disadvantages are the risk that the sample might

not represent the population as a whole, and it might be biased by volunteers.
http://www.investorguide.com/definition/statistical.htmlhttp://www.businessdictionary.com/definition/method.htmlhttp://www.businessdictionary.com/definition/drawer.htmlhttp://www.investorguide.com/definition/representative.htmlhttp://www.businessdictionary.com/definition/data.htmlhttp://www.investorguide.com/definition/ease.htmlhttp://www.investorguide.com/definition/unit.htmlhttp://www.businessdictionary.com/definition/availability.htmlhttp://www.investorwords.com/9540/easy.htmlhttp://www.investorguide.com/definition/access.htmlhttp://www.businessdictionary.com/definition/advantage.htmlhttp://www.investorguide.com/definition/type.htmlhttp://www.businessdictionary.com/definition/sampling.htmlhttp://www.businessdictionary.com/definition/disadvantage.htmlhttp://www.businessdictionary.com/definition/risk.htmlhttp://www.investorwords.com/4375/sample.htmlhttp://www.businessdictionary.com/definition/represent.htmlhttp://www.businessdictionary.com/definition/population.htmlhttp://www.businessdictionary.com/definition/volunteer.htmlhttp://www.businessdictionary.com/definition/volunteer.htmlhttp://www.businessdictionary.com/definition/population.htmlhttp://www.businessdictionary.com/definition/represent.htmlhttp://www.investorwords.com/4375/sample.htmlhttp://www.businessdictionary.com/definition/risk.htmlhttp://www.businessdictionary.com/definition/disadvantage.htmlhttp://www.businessdictionary.com/definition/sampling.htmlhttp://www.investorguide.com/definition/type.htmlhttp://www.businessdictionary.com/definition/advantage.htmlhttp://www.investorguide.com/definition/access.htmlhttp://www.investorwords.com/9540/easy.htmlhttp://www.businessdictionary.com/definition/availability.htmlhttp://www.investorguide.com/definition/unit.htmlhttp://www.investorguide.com/definition/ease.htmlhttp://www.businessdictionary.com/definition/data.htmlhttp://www.investorguide.com/definition/representative.htmlhttp://www.businessdictionary.com/definition/drawer.htmlhttp://www.businessdictionary.com/definition/method.htmlhttp://www.investorguide.com/definition/statistical.html


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Research design

Information from employees of the business (primary data), the internet and textbooks (secondary

data) were used to collect data for the research. Primary data is data that has not been previously

published, i.e. the data is derived from a new or original research study and collected at the source, and

it is information that is obtained directly from first-hand sources. One of the main advantages of

collecting primary data is the amount of control the researchers have. This allows them to determine

the type of method they will use in collecting the data and how long it will take them to get the data,

thus enabling them to focus on specific aspects of their research. One disadvantage of primary

data collection is that it consumes a lot of time. The researchers will need to make certain preparations

in order to handle the different demands of the processes and at the same time, manage time

effectively.

Secondary data is the data that have been already collected by and readily available from other sources.

The advantages of secondary data include: It is economical. It saves efforts and expenses; it is time

saving; it helps to make primary data collection more specific since with the help of secondary data, we

are able to make out what are the gaps and deficiencies and what additional information needs to be

collected; it helps to improve the understanding of the problem; it provides a basis for comparison for

the data that is collected by the researcher. In addition to advantages there are also some

disadvantages. Firstly, the accuracy of secondary data is not known as there is no real control over data

quality and the data may be outdated. The researcher does not know exactly how the data collection

process was done and how well it was done.


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Research instruments

The instruments that were used to conduct this research are interviews and questionnaires, which were

distributed among the employees of Best Taste Pastries.

A questionnaire is a list of a research or survey questions asked to respondents, and designed

to extract specific information. The main advantage of this instrument is that it is generally relatively

quick to collect information using a questionnaire. Also information can be collected from a large

portion of a group. The method also has its disadvantages which are as follows. Questionnaires are

standardised so it is not possible to explain any points in the questions that participants might

misinterpret. Also, open-ended questions can generate large amounts of data that can take a long time

to process and analyse. The questionnaire consists of 19 questions of which only two are open-ended

and the remaining 17 are closed ended. An outline of the questionnaire can be seen in the appendix.

Interviews were also conducted in an informal manner and these types of interviews are referred to as

non-directive interviews. An interview is a formal meeting in which one or more persons question,

consult, or evaluate another person. An unstructured interview, on the other hand, is one without any

set format but in which the interviewer may have some key questions formulated in advance. An

advantage of this is that they give respondents time and opportunities to develop their answers. They

give the respondent the opportunity to take control, to define properties and direct the interview into

areas which they see as interesting and significant. This can lead to new and important insights for the

researcher. However, the disadvantages include: the data is not standardised so cannot replicate;

problem with reliability and generalising; and difficult to quantify and analyse results. A sample of the

interview is available for viewing in the appendix.
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Outline of research procedure

The research was conducted over a two weeks period, from February 14 th to March 1st, 2013. The

interviews were conducted informally. The first, with the owner was done on February 26 th, 2013 via the

telephone and the other with Miss Lawrence, on February 28 th 2013, was conducted in person. The

respondents to the interview had three days to complete it which was ample time to accurate complete

them. The table was created to outlines the dates of distribution and collection of the questionnaires,

the position of the respondents in the business and the research instrument used by each person. See

appendix for table.


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Limitations

Before the completion of this research many problems and limitations were encountered. Firstly, since

Best Taste Pastries is a small business only data that was received during the interviews and

questionnaires could be used to complete the research. Unlike a large business, the bakery doesnt have

a website or publish magazines or is published in newspaper articles, thus the sources of data was

limited. Also, the information gathered from the interview might have been skewed and include some

level of bias which may lead to conclusions being inaccurate and recommendations being limited.

Additionally, only five (5) questionnaires were given out which represents a small sample and limits the

amount of data received so as to make comparisons. Likewise, the researcher believes that the

responses given by the respondents were very insufficient and this made it very difficult to analyse the

companys operation.


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Description

Best Taste Pastries, a small business, located in Grace Plaza at 27a Seaward, Kingston 20, St. Andrew.

The business began operations in early 1990s by current proprietor Robert Wright. The entity is a small

bakery with only one branch and which supplies baked goods to schools, supermarkets and individual

customers. The bakery only supplies to the local market in three parishes, Kingston, St. Andrew and St.

Catherine. The business produces a variety of products that are mostly consumed by the poor including:

donuts and a variety of buns and breads. The business has over 16 employees some whom have been

working in the field for over 20 years.


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Supply analysis

Supply Explained

According to Economics for CSEC Examination, supply is defined as the quantity of a product that a

producer is willing and able to make available of sale in a market at a given price in a given time period.

Fig 1 (supply curve)

Law of supply

The law of supply states that at higher prices, producers are willing to offer more products for sale than

at lower prices this means that as the supply increases as prices increase and vice versa. In the case of

pastries and baked products, if the price of these goods were to increase, producers like Mr. Wright will

see it best to increase his supply and vice versa, ceteris paribus.


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Shifts in the Supply Curve

The supply curve can shift position; if the curve shifts to the right (from S1 to S2) this is an increase in

supply; more is provided for sale at each price and vice versa. A shift in the supply curve of Best Taste

Pastries can be caused by any of the factors affecting supply which will be discussed further in the

research.

Movement along supply curve

A movement along the supply curve is caused by a change in price of the good or service. For instance,

an increase in the price of a few products made by the bakery may result in an extension of supply

(quantity supplied will increase) and vice versa.

Fig 2 showing a shift in curve


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Factors affecting supply

These are defined as elements besides price which determine the available amount of a product or

service.

Technology

Technology, in an economic sense, defined byAbout.com, refers to the processes by which inputs are

turned into outputs. Technology is said to increase when production gets more efficient- i.e. when firms

can produce more output than they could before from the same amount of input.

Increases in technology make it more attractive to produce (since technology increases decrease per

unit production costs), so increases in technology increase the quantity supplied of a product. On the

other hand, decreases in technology make it less attractive to produce (since technology decreases

increase per-unit costs).

Competition

As more or fewer producers enter the market this has a direct effect on the amount of a product that

producers (in general) are willing and able to sell. More competition usually means a reduction in supply

(for individual firms and not aggregate supply), while less competition gives the producer an opportunity

to have a bigger market share with a larger supply.
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Cost to produce/ cost of resources

In addition to the price of the product being the main factor as stated in the Law of Supply, the price of

production inputs also plays a part. The lowest price at which a firm can sell a good without losing

money is the amount of money that it costs to produce it. If the price of inputs goes up, the cost of

producing the good will increase. Therefore, at each price producers need to sell their good for more

money. So an increase in the price of inputs leads to a decrease in supply (shift left). Likewise with the

company, the more the costs of inputs like electricity, rent and cost of ingredients increase by the less

the business is able to produce. In 2012, there was an 8% increase in the cost of baking flour and a 19%

increase in sugar costs in 2011, main ingredients for baked products, which resulted in a decrease in the

quantity supplied by the business.


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Taxes and subsidies

Government subsidies encourage an increase in supply at each price level because the subsidy provides

a reduction in a firms costs of production. If government decides to subsidize a good, there will be

more profit for producer.


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However, if the government increases the taxes that it takes from producers, there will be reduced

profit therefore less supply.

It is also so for the supply curve of Best Taste Pastries as it has been gradually shifting to the left over the

past few years. Taxes are constantly increasing in Jamaica thus the quantity supplied and supply of the

business, along with other entities, are constantly decreasing.


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Market structures

Market structure, according to StudyMode.com, is best defined as the organizational and other

characteristics of a market.

The four major market structures include:

Oligopoly, in which a market is dominated by a small number of firms that together control the

majority of the market share.

Monopoly, where there is only one provider of a product or service.

Perfect competition, a theoretical market structure that features no barriers to entry, an

unlimited number of producers and consumers, and a perfectly elastic demand curve.

Monopolistic Competition:

The market structure which the business being studied belongs to is monopolistic competition, as it

suits the characteristics of such market. This is a form ofimperfect competition where many

competing producers sell products that are differentiated from one another (that is, the products

are substitutes, but, with differences such as branding, are not exactly alike). Monopolistically

competitive markets exhibit many characteristics which include the following:

Each firm makes independent decisions about price and output, based on its product, its

market, and its costs of production.

Knowledge is widely spread between participants.

There is some freedom to enter or leave the market, as there are no major barriers to entry or

exit.
http://www.wikipedia.org/wiki/Imperfect_competitionhttp://www.wikipedia.org/wiki/Differentiation_(economics)http://www.wikipedia.org/wiki/Substitute_goodhttp://www.economicsonline.co.uk/Business_economics/Costs.htmlhttp://www.economicsonline.co.uk/Business_economics/Barriers_to_entry.htmlhttp://www.economicsonline.co.uk/Business_economics/Barriers_to_entry.htmlhttp://www.economicsonline.co.uk/Business_economics/Costs.htmlhttp://www.wikipedia.org/wiki/Substitute_goodhttp://www.wikipedia.org/wiki/Differentiation_(economics)http://www.wikipedia.org/wiki/Imperfect_competition


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A central feature of monopolistic competition is that products are differentiated. The business

differentiates it products by taste package and even quality.

Firms are price makers and are faced with a downward sloping demand curve.

Monopolistic competition in the short run

At profit maximisation, MC = MR, and output is Q and price P. Given that price (AR) is above ATC at Q,

supernormal profits are possible (area PABC).

As new firms enter the market, demand for the existing firms products becomes moreelastic and the

demand curve shifts to the left, driving down price. Eventually, all super-normal profits are eroded away.
http://www.economicsonline.co.uk/Business_economics/Revenue_theory.htmlhttp://www.economicsonline.co.uk/Business_economics/Profits.htmlhttp://www.economicsonline.co.uk/Competitive_markets/Price_elasticity_of_demand.htmlhttp://www.economicsonline.co.uk/Competitive_markets/Price_elasticity_of_demand.htmlhttp://www.economicsonline.co.uk/Competitive_markets/Price_elasticity_of_demand.htmlhttp://www.economicsonline.co.uk/Business_economics/Profits.htmlhttp://www.economicsonline.co.uk/Business_economics/Revenue_theory.html


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Monopolistic competition in the long run

Super-normal profits attract in new entrants, which shifts the demand curve for existing firm to the left.

New entrants continue until only normal profit is available. At this point, firms have reached their long

run equilibrium.

Clearly, the firm benefits most when it is in its short run and will try to stay in the short run by

innovating, and further product differentiation.


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The advantages of monopolistic competition

There are no significant barriers to entry; therefore markets are relatively contestable.

Differentiation creates diversity, choice and utility.

The disadvantages of monopolistic competition

Some differentiation does not create utility but generates unnecessary waste, such as excess

packaging.

As the diagram illustrates, assuming profit maximisation, the firm is allocatively and productively

inefficient in both the long and short run.
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The demand for and supply of factors

Introduction to factors of production

Investopedia.com states that, an economic term to describe the inputs that are used in the production

of goods or services in the attempt to make an economic profit describes the factors of production. The

factors of production include land, labour, capital and entrepreneurship.

Roles of the Factors of Production and their rewards

Land

This refers to all the natural resources that contribute to the production of goods and services. The

reward to the utilization of land as a factor of production in the production mix is rent or economic rent.

The business pays roughly $700,000 monthly for all its reward however rent is only 5.7% of this cost.

Labour

This is all human contribution, be it in the form of technical or physical expertise, to the production of

goods and services. The contribution of labour to production is known as wages and salaries. The

business pays an estimated $500,000 monthly for this reward which means that labour contributes to

71% of the cost of rewards.


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Capital

This consists of all man made aids to production. It includes tools, machinery equipment, factory,

storage, transportation and distribution facilities used in producing goods and services. The reward for

capital is interest.

Entrepreneurship

This is the factor of production that organises, coordinates and utilizes other factors to maximize profit.

The entrepreneur takes risk and manages other factors of production. The entrepreneur is rewarded for

this with profits.


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Presentation of data

Fig1

From the above figure, the factors that mostly affect the companys ability to supply can be seen. The

graph shows that the cost to produce/ price of resources have the largest impact on the supply.

Constant increases in the cost of the factors of production will eventually cause supply to decrease. If

the price of inputs increases, the cost of producing the good will also increase. This will causes Best

Tastes proprietor sell the products for more money but an increase in the price of inputs leads to a

decrease in supply (shift left)

price of resources

40%

competition

20%

technology changes

20%

price of related

goods

20%

Factors that affect resources


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Fig 2

Figure 2 shows the different taxes that the company pays to government and the proportion of the

taxes too. It can be seen that General Consumption Tax is mostly paid by the business 45% payments of

the total amount of tax paid to government. The company also pays income tax and corporation tax,

25% and 20% respectively. Other taxes such as education tax are also paid by the business and reflect a

10% payment by the company. This might be so as these taxes are mandatory for all businesses and

individuals to pay.

45%

25%

20%

10%

Types of Taxes paid

General Consumption Tax (GCT)

income tax

Corporation Income Tax

Other


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Fig 3a

Fig 3b

The above diagrams depict changes, increase or decrease in the types of taxes paid. Fig 3a shows that all

of the respondents think that there are increases in taxes while Fig 3b shows that this increase in 6.3%

and is for General Consumption Tax. On the other hand, fig 3b shows that one respondent believe that

even though taxes are increasing some are also decreasing. This can be seen in fig 3b where corporation

tax faces a 25% decrease, moving from 33.3% to 25% annually.

0

1

2

3

4

5

yes no

Increase in taxes

yes/no

0

5

10

15

20

25

30

GCT(increase) Coporation

Tax(decrease)

Percentages

(%)

Increase /Decrease in tax

yes/no


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Fig 4a

With increases in taxes comes decreases in supply which is evident in the about chart. Out of the five

respondents who believe taxes are increasing, 75% believe that this increase has an impact on supply

causing a significant decrease. However, 25% believe there is a moderate decrease while no one

thought there is any increase which reflects the 0%. This is so as increased taxes will lower profit which

can eventually decrease supply.

75%

25%

0%0%

Effect of increased taxes on supply

significant decrease

moderate decrease

moderate increase

neutral

Price ($)

Quantity SuppliedQ12

P2

P1

Fig 4b

As a result of increases in taxes, the prices of

products produced are forced to increase as

the producer is not able to absorb all the

increased expenses. Thus the price moves

from P1 to P2 and quantity supplied moves

from Q1 to Q2. This illustration coincides

with the information collected from the

respondents.

Increase in Government Taxes


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Fig 50 0.5 1 1.5 2 2.5 3 3.5

moderately high

slightly high

very high

moderately low

levels of competition

levels of competition

Ingredients Estimated cost

per bag ($)

Daily usage

(pound)

Total cost ($)

Flour 3500 1500 52500

Sugar 5000 330 15000

Butter 2800 50 2800

Shortening 3500 350 24500

Yeast 5500 25 5500

Baking

powder

3300 30 3300

TOTAL 103600

This figure shows the degree of

competition that is present in the

current market structure. It is

seen that three of the five

respondents thinks that

competition is very high while

the other two thinks it slightly

high and moderately high.

Fig 5b shows the ingredients

that are mostly used in the

making of all of the bakerys

products. The table also

highlights the estimated cost per

bag of the ingredients, the daily

usage, and the cost incurred for

each ingredient along with the

collective cost. The total cost is

found by multiplying the daily

usage by the cost per pound of

the ingredient (NB: the cost per

pound is not shown).

Fig 5b


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Fig 6

Fig 6 shows the impacts that the very high level of competition has on supply. It is seen that it is 60% of

the respondents believe that competition causes a significant decrease in supply. On the other hand

20% thinks it causes a significant decrease while another 20% thinks its a mild decrease. Since there are

many suppliers, completion is very high and this affects the company as it limits the demand for its

products thus reducing possible profits, ceteris paribus. However, even though competition is

moderately high, firms still have market power to set their prices due to differentiation of goods.

Additionally this supply curve will shift to the left as more suppliers and same number of buys means

less goods being supplied by each company.

60%20%

20%

Effect of competition on supply

significant decrease

mild decrease

moderate decrease

Quantity Supplied

Price ($) S2

S1


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Evaluation

Since the commencing of operations, Best Taste Pastries has faced many factors which

impact supply however it can be concluded that cost of resources affect supply more as

the cost to production has had the most effect on the companys operations. This is so

as production costs have been constantly increasing in the country along with the most

important resources the bakery uses in its products.

These factors have both negative and positive impacts on the companys supply. For

example, taxes and increase in the cost of factors of production negatively impact

supply causing it to decrease. However, factors like subsidies and better utilization of

the current factors of production can positively increase supply by causing it to increase,

an outward shift in the supply.

The market structure which the business belongs to is monopolistic competition, where

there are many producers with differentiated products. The firm does not show any

characteristics of another market structure.

The company utilises all four factors of production and their rewards however, labour is

the most costly reward as it is 71% of the companys monthly expenses.


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Recommendation

The company needs to start marketing itself and its products through either advertisements or

promotional incentives for customers. Marketing would significantly impact the business as it

can drive up demand, the price of the products and eventually supply for the products.

Also, the business needs to become be up-to- date with the modern technological times. It

could set up a website or an email where persons can view the products or even order online.

Additionally, the business can adopt more cost efficient methods of production so as to lower

the cost of production which can eventually increase supply.


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Conclusion

Best Taste Pastries is a small business operating in a monopolistic competition market structure. There

are certain factors which currently affect the business supply in the market; competition cost of

resources, technology and government taxes and subsidies. In this market there are many sellers who

are price makers with differentiated products. The company also uses all of the factors of production,

land, labour, capital and enterprise along with their rewards payments, rent, wages, interest and profit

respectively.


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http://sociology.about.com/od/Research-Methods/a/Secondary-Data-Analysis.htmhttp://www.managementstudyguide.com/secondary_data.htmhttp://www.blurtit.com/q130762.htmlhttp://www.investorwords.com/19322/primary_data.htmlhttp://www.ehow.com/facts_6806780_define-primary-secondary-data.htmlhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld010.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld010.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld005.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld005.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld004.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld004.htmhttp://www.investopedia.com/university/economics/economics3.asp#axzz2MlXZw945http://www.curriculumlink.org/econ/materials/sdlaws.htmlhttp://www.investorwords.com/4822/supply.htmlhttp://www.zeepedia.com/read.php?background_to_supply/costs_continued%85%85%85%85_revenues_introduction_to_economics&b=68&c=17http://www.zeepedia.com/read.php?background_to_supply/costs_continued%85%85%85%85_revenues_introduction_to_economics&b=68&c=17http://www.tutor2u.net/economics/revision-notes/as-markets-price-elasticity-of-supply.htmlhttp://www.tutor2u.net/economics/revision-notes/as-markets-price-elasticity-of-supply.htmlhttp://www.zeepedia.com/read.php?background_to_supply/costs_continued%85%85%85%85_revenues_introduction_to_economics&b=68&c=17http://www.zeepedia.com/read.php?background_to_supply/costs_continued%85%85%85%85_revenues_introduction_to_economics&b=68&c=17http://www.investorwords.com/4822/supply.htmlhttp://www.curriculumlink.org/econ/materials/sdlaws.htmlhttp://www.investopedia.com/university/economics/economics3.asp#axzz2MlXZw945http://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld004.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld004.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld005.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld005.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld010.htmhttp://www.okstate.edu/ag/agedcm4h/academic/aged5980a/5980/qualrsch/QUALRSCH/sld010.htmhttp://www.ehow.com/facts_6806780_define-primary-secondary-data.htmlhttp://www.investorwords.com/19322/primary_data.htmlhttp://www.blurtit.com/q130762.htmlhttp://www.managementstudyguide.com/secondary_data.htmhttp://sociology.about.com/od/Research-Methods/a/Secondary-Data-Analysis.htm


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http://economics.about.com/cs/micfrohelp/a/supply_elast.htm

http://www.tutor2u.net/economics/content/topics/elasticity/elasticity_of_supply.htm

http://www.economicsonline.co.uk/Competitive_markets/Price_elasticity_of_supply.html

http://www.econport.org/content/handbook/supply/changeSupply.html

http://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=supply+determinants

http://www.businessdictionary.com/definition/determinants-of-supply.html

http://www.business

http://www.businessdictionary.com/definition/market-structure.html#ixzz2My65iqMT

http://www.princeton.edu/~achaney/tmve/wiki100k/docs/Monopolistic_competition.html

http://www.unc.edu/depts/econ/byrns_web/Economicae/monocompt.html

http://www.economicsonline.co.uk/Business_economics/Monopolistic_competition.html

Caribbean Examination Council. CAPE Economics Study Guide, Nelson Thornes, 2011

Gopie, Patricia. Economics for CSEC Examinations, Macmillan, 2010

Robert Wright Proprietor

Cynthia Dacosta-Lawrence Employee

Edna Dacres Employee

Tracy-Ann Employee

Ms Evans Employee
http://economics.about.com/cs/micfrohelp/a/supply_elast.htmhttp://www.tutor2u.net/economics/content/topics/elasticity/elasticity_of_supply.htmhttp://www.economicsonline.co.uk/Competitive_markets/Price_elasticity_of_supply.htmlhttp://www.econport.org/content/handbook/supply/changeSupply.htmlhttp://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=supply+determinantshttp://www.businessdictionary.com/definition/determinants-of-supply.htmlhttp://www.business/http://www.businessdictionary.com/definition/market-structure.html#ixzz2My65iqMThttp://www.princeton.edu/~achaney/tmve/wiki100k/docs/Monopolistic_competition.htmlhttp://www.unc.edu/depts/econ/byrns_web/Economicae/monocompt.htmlhttp://www.economicsonline.co.uk/Business_economics/Monopolistic_competition.htmlhttp://www.economicsonline.co.uk/Business_economics/Monopolistic_competition.htmlhttp://www.unc.edu/depts/econ/byrns_web/Economicae/monocompt.htmlhttp://www.princeton.edu/~achaney/tmve/wiki100k/docs/Monopolistic_competition.htmlhttp://www.businessdictionary.com/definition/market-structure.html#ixzz2My65iqMThttp://www.business/http://www.businessdictionary.com/definition/determinants-of-supply.htmlhttp://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=supply+determinantshttp://www.econport.org/content/handbook/supply/changeSupply.htmlhttp://www.economicsonline.co.uk/Competitive_markets/Price_elasticity_of_supply.htmlhttp://www.tutor2u.net/economics/content/topics/elasticity/elasticity_of_supply.htmhttp://economics.about.com/cs/micfrohelp/a/supply_elast.htm


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Methodology 2 (Recovered) (Recovered)