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Apple Inc. and Its Economic Conditions in UK and USA Free essay! Download now

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Apple Inc. and Its Economic Conditions in UK and USA

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Downloads to date: N/A | Words: 2459 | Submitted: 12-Dec-2013
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Investigates Apples some economic conditions in UK and USA


Apple Inc. and Its Economic Conditions in UK and USA

In this assignment, I will investigate Apple Inc. and its economic conditions on several subjects in United Kingdom and United States of America. Apple was created on April 1, 1976 by Ronald Wayne, Steve Wozniak and Steve Jobs. When they first established the company, they were aiming to sell the Apple 1 computer kit, designed by Wozniak. The company was incorporated in January 3, 1977 only with Jobs and Wozniak. Now Apple has a variety of products ranging from TV’s, computers, mp3 players to tablets, etc. Apple now has 598,500 jobs created or supported by them, including jobs at Apple and at other companies which it works with. This includes the areas of healthcare, business sales, transportation, consumer sales, professional, technical and scientific services, development and manufacturing of components, materials and equipment. It is not stated in Apple’s official website, but from my researches I can tell that Apple’s mission and vision are to matching students, educators, professionals and consumers with the best computing experience with its innovative and inspiring stance. From the following table it can be seen by looking at Apple’s last 5 year net incomes that in 2010, it grew 70% according to 2009, in 2011 it grew 85% according to 2010, in 2012 it grew 60.1% according to 2011 and in 2013 it decreased by 12.1% according to 1012.

Figure 1. [12]
Price elasticity and income elasticity are linked to each other in a strong basis. Price elasticity is the way how the demand of a product responds to the changes in its price. It is whether the demand increases or decreases in a certain price change. To be clearer, it shows the relation of percentage change in demand and percentage change in price. Income elasticity, on the other hand, is a measure of how the demand of a product changes with respect to consumer income. For example for habit related products like cigarettes change in demand is small when price changes. However, this is not the same in electronics industry. Personal electronic devices are considered as luxury items to most families, and thus they will be on the top parts of the list of the things that will be dropped out in a decline of a family’s economic condition. [1] When considered Apple and that its products are one of the most expensive in the electronics sector, I can easily say that its prices are highly elastic because unless they have saved money or the assurance that they will not get harmed by the cost of it, people will not buy apple products. This situation would be the ...

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