Economics in my life

Economics in My Life.

                      We have Fly Ash Brick Manufacturing Industry where we use to produce bricks used for constructing compound walls. Customers will demand sometimes in less quantity like 200 pieces and sometimes in huge quantity like 1,00,000 to 2,00,000 pieces. The demand will be more in the summer season rather than other seasons.

                       We will charge normal price for small orders and relatively less price for big orders. But when there is high demand for the bricks because of any factors we will charge same price for big orders as like as the price charged for small orders. Here we applied the Law of Demand which is an important concept in economics.

                       In order to face competitors in the market, in normal season we will supply bricks at low margin of profit to sale out the stock left behind. This helps us to Sustain in the market and to earn money to carry on day to day works without any interpretation.

                       We will try to reduce the cost of production my purchasing raw material in bulk quantities at a time so, that they will available at low price which leads to reduce the Cost of Production.