Concepts applied in luminary bakery

Five concepts of economics in luminary bakery:
1. Income effect: As luminary bakery is one of the famous and largest bakery shop in london.  Its price is quietly to the higher side. Its quite expensive,  so customer who goes there, have higher income because as it is expensive customer with lower income cannot afford the product.  So we can tell as income increases the demand of luxury product also increases.
2. Taste and preference : As customer have diffrent taste and preference,  so they choose their product according to taste and preference. As customers are there who prefer bakery product for their lunch. As hot chocolate cake keeps body warm, so in countries temperature is low people prefer chocolate items.
3. Economies of scale: As reducing the fixed cost the firm that produces more and more to reduce the fixed cost like they produce flour base as in bakery the bread is nessary and is requried in huge number, so they produce the flour bread in huge number so that per unit cost decreases.
4. Economies of scope: As in bakery the producer produces diffrent types of commodity as they produces cookies,  muffins,  birthday cakes,  so that marginal cost is 0.
5. Barrier of entry: As they creat barrier of entry in the bakery market they didnt allow any compitators easily to capitalize the market.  As they provide open kitchen and the best ingredient as it captured the market by advertisement like created market barrier.