Economics School-Based Assessment Essay

Introductionslaked lime, an acronym for Landline, meshing, Mobile, Entertainment, is owned by the British based strain & Wireless Communications. The compevery formed from the integrated businesses of pipeline & Wireless in the Caribbean which adopted the calcium oxide name on 3rd of November 2008. With mountain spending a lot of time accomplishing tasks and doing researches, the meshwork has becomevery important to individuals nowadays. Without the profit al nearly individuals think that they cannot survive beca workout of how it is used to provide a variety of education and communication facilities in order to get the work arrogatee quickly and/or enjoy ones self with family and friends.People ar becoming very lazy and find it difficult to open a book to find information, so instead they use the lucre to knit the information quickly. Businesses also use the cyberspace to do commercialise researches and many a(prenominal) new(prenominal) activities. The internet h as basically any and every thing. More than 50% of piazzas in Jamaica has internet and for those that cannot afford the internet, the Government has provided facilities to them. With raft wanting to bargon or receive emails, use search engine to gather information, spirit for hobby or interest on the web.I tolerate decided to do an investigationof the cyberspace Service industry within Jamaica with reference specifically to basswood .AcknowledgementI would like to thank everyone who would have contributed to the completion of this School-Based Assessment. premier of all I would like to thank God firstly for the luck to do such a project and also for the wisdom, strength and sympathy to complete this assignment. Other people who I would like to thank are My economic science t severallyer for her constant advices and willingness to help. All those who answered the forelandnaires distributed.My family for helping and supporting me during the executing of this project.Objecti ves of researchThe aims of this investigation are1. To establish the type of copulationship in that respect is between expense and quantity demanded for internet proceeds at lime hydrate. 2. To ensure of the trail doers change the demand of LIME and take to the woods 3. To examine the cost elasticity of demand of internet assistant at LIME and liquify 4. To determine whose internet operate can mainly be install in form 5 of the St. Martins secondary school. 5. To briefly examinethe market mental synthesis for internet divine help in Jamaica. 6. To briefly examine the market conditions matching the supply of internet armed service at LIME and Flow in Jamaica.MethodologyThe SBA was conducted in my community.Primary Sources1. motionnaire Twenty read/write headnaires were shared out to students in form 5 of the St. Martins secondary school. 2. InterviewThe managers of LIME and Karib Cable were interviewed to obtain information such as how they attract customers to t heir business.Secondary Sources1. Textbooks Economics textbooks were used to have a clear understanding of the Laws of Demand and Supply. 2. Internet The websites listed in the bibliography were used to further clarify economic concepts to enhance the school-based assessment.20 interrogatorynaires were given to the students of form 5 in the Community of. Two interviews were conducted with the managers of LIME and Flow outlets inOchi rios. The internet service industry in Jamaica is one of an Oligopoly market structure. Thus, there are only a few large firms, homogenized or differentiated products, imperfect knowledge of the market, they are harm makers with legal injury rigidity and also have many buyers. As such, there are flyspeck competition levels which ideally lead to the producers satisfaction and welfare.After the information were collected from the questionnaire, I discovered that all the participants were between the ages of 16-17. The study as shown that LIMEs intern et service was the mostdemanded internet service in Guys hill. move 1 )10 of the students who were given questionnaires had access to the internet at their homes. This may due to the dependency to social networking or the expect of having the internet to gather information. Since the internet is the quickest way of gathering information and communication with others the demand for internet would be high. drumhead 2 In question (2) 60% of the students give tongue to that they have LIMEs internet service dapple 40% have Flow internet service. The fact that much students preferred LIMEs internet service shows that some method of attracting customers that Flow is lacking. Based on the supply information gained from the interviews, these methods include the sponsoring of eventidets and other methods. Effective use of these methods can increase the demand for internet, lower take cost, will result in a decrease cost equipment casualty and lead to an extension of demand, all of which increases a firms profits. Question 3 The question Who recompenses for the internet you have access to was asked in question 3. Majority (80%) of the students state that they parents presents for the internet age the other 20% said that their grandparents pays for the internet. This shows that even students may have the desire and the willingness to pay for the internet service they are not backed by the ability to pay for it.Question 4 All (20) of the students said that the person who pays for the internet at their home currently has a job. This shows that persons who have jobs are the ones who have ability to pay for internet service at their homes. Question 5 In telling to question 5 responses, 16 of the persons who pay for the internet are regular employees while the other 4 are part-time. The 16 full-time employees who magnate be eligible for benefitshave LIMEs internet service and this transcend executive be so mayhap because of personal preference and wanting t op quality service. Question 6 16 students said that the person who pays for their internet occupational classification is white collar while the other 4 said its blue collar.The 4 blue collar workers internet service provider is Flow, which shows that people who receive less income prefers Karib Cables internet service maybe because of the price of the service.Question 7 In relation to question 8, 18 of the students use the internet mostly for social networking while the other 2 uses it for information. Sites like facebookand twitter are social networking sites that enable users to communicate with each other by posting information, comments, messages, images, ect and these sites have become the most popular website on the internet. So therefore students may have a deep desire to have internet service to use these sites. Question 8 agree to question 7 90% of the students use the internet on a daily basis. Based on the questionnaire this is due to addiction to social networking by these students. The other 10% uses it weekly and this is due to the need of gathering information.Question 9 In question 9 the question was asked What is the main factor of choosing your internet service provider? Many factors affect the demand for a specific internet service such as preference, price of the internet and advertisement. 60% of the students said that its because of preference while the other 40% said that its because of price of the internet service. This may be so because people may have a great liking for a certain internet service because of its reliability. No onewants to be experiencing difficulties with the internet while surfing. Question 10 8 persons said that they pay a price range of $800-$1000 while12 persons said that they pay from $1300-$1500According to the information on the questionnaires the 12 persons who pays at the price range of $1300-$1500 internet service provider is Lime, which shows that flows rates are a little cheaper than LIMEs rates. Ques tion 11 All of the students internet speed is 1 megabyte per sec. Although LIME and flow provides 4mbps, which is a lot faster than 1mbps shows that people only have the ability to pay for 1mbps a month. Question 12 According to question 12, 60% of these students dont experience any problems at times, while the other 40% experiences problems.The 60% of students who dont experience any problems internet service provider is LIME. This representation that even though LIMEs rates are a little to a greater extent expensive, they provide better service than Flow and that is why LIME attracts more customers to their services. The fact that LIMEs internet service is more expensive may due to the cost of production. Question 13 6 of the students who experience problems said that they experience slow internet at times, while the other 2 students said that at times they dont have internet at times.Question 14 In relation to question 14 these problems were experienced daily by 25% of these stu dent, 25% weekly and 50% of the students who experience problems experiences monthly.Question 15 The question If the price for your internet was $1000 a month for 1MBPS (Mega Bytes per Second), you would purchase 20% of the students said that they would purchase 2mbps at $1500 per month. This shows that persons have the desire and willingness to purchase 2mbps but they dont have the ability to do so.Question 16 50 % of the students showed willingness to purchase 2mbps at $1500 per month. As price increases from $1500 to $2000 for 2mbps, the quantity demanded decreased thus, the jurisprudence of demand stands (as prices increase, demand decreases). The P.E.D was calculated as -0.15, indicating price inelasticity. As the price increases from $1500to $2000, demand also decreases and the Law of demand is also obeyed. The P.E.D. in this cutting was -0.3, thus indicating in another price inelasticity.Findings1. There is a invalidating relationship between the prices of internet service and the quantity demanded. This simply means as price increases, quantity demanded decreases and as price decreases, the quantity demanded increases.2. The principal factor affecting for internet service is ones preference.3. Internet service is price inelastic, therefore the quantity demanded is unresponsive to changes in price.4. The human race of foreign firms (LIME) in the local economy can create practiced competition and result in higher consumer satisfaction.RecommendationsBoth LIME and Flow can endeavor into improving in the following areas if they havent already done so in order to boost gross sales and have a better competitive stanceFlow should use suggestion boxes to get feedback from customers about problems they face.Increase advertising to make the customers to have a greater liking for their internet service since preference is the factor affecting demand.The government should open up the market for internet service further. This would add to competition. Competi tion would lower prices and also keep currency in the country since LIME is owned by the British base money is most likely exported out of the country.Sponsor more events that are taken place in the country.Sell 2MBPS at cheaper rates since more people are demanding 2MBPS.ConclusionIn this investigation between LIME and Flow, I have come to realize the major role that economics plays in the operation of a business. It was deduced that LIME is a better internet service provider than Flow since bigger consumer market and their customers experience no problems.Bibliography platterWebsiteshttp//www.time4lime.com/vc/internet.jsphttp//www.Flow.com