BUSM 2565 | BUSM 2566 Understanding the Business Environment Assignment 1 Brief 2025-26 | RMIT

BUSM 2565 | BUSM 2566 Assignment Description

Use your last digit in your student ID to determine your case using the table below. For example, if your student ID is “xxxxxx6”, your case analysis will be “Egg retail prices in the USA”. Please highlight your case in the Cover Page. 

Note: If you are an international student, your case will be “Egg prices in the USA”. 

If you encounter any difÏculties in selecting the case, please consult your face-to-face lecturer.

BUSM 2565 | BUSM 2566 Assignment Questions 

Question 1. Economic concepts (20 marks) 

Consider your case from the perspective of the farmers and address the following questions: 

1.1. Identify relevant resources for producing the product of your case. What resource is the most limited for farmers in the context of your assigned country? Back up your arguments with relevant data evidence (10 marks). 

1.2. Discuss the opportunity cost of producing the product of your case. Back up your arguments with relevant data evidence (10 marks). 

Question 2. Applications of Economic concepts (30 marks) 

Continue your case to discuss:  

2.1. How might changes in the opportunity cost lead farmers to change their production choices in response to market price fluctuations? Provide evidence and/or examples for your arguments where relevant (20 marks).

2.2. If the trend in production of your product is getting more and more popular, what would happen to the output of other products? Use the PPF model to demonstrate your ideas (10 marks). 

Question 3. Market analyses (40 marks) 

3.1. Use the links provided in the table to download and visualise monthly data of your case for the period  2020  –  2024  (“farmgate prices”  is  “Thương lái thu mua”  in the Vietnamese language). Comment on the prices over the period covered (10 marks). 

(Note: Please click on the link, select your assigned product and time range, and download the data. There is no need to change any default setÝngs on the page. Data for dry paddy prices might not be available for 2024. You can stop in December 2023. 

3.2. Conduct your analyses to identify at least ONE key factor for the recent peak price identified in the data figure. Back up your discussions with relevant data evidence where available (10 marks).  

(Note: The reasons for peak prices might include factors at the global level.) 

3.3. Use a theoretical Supply-Demand model to explain the impacts of the key factor (identified in Question 3.2) on prices and quantity (20 marks).  

Additional Requirements (10 marks)