Week 2 - Economics Structure - Oct 2024 PDF

BIC 1012 PRINCIPLE ECONOMICS 2024 Economics Structure ECONOMICS STRUCTURE  Price determinants Price is the first thing that people think about when deciding to buy. Price is determined basically based on demand and supply. Characterist...

BIC 1012 PRINCIPLE ECONOMICS 2024 Economics Structure ECONOMICS STRUCTURE  Price determinants Price is the first thing that people think about when deciding to buy. Price is determined basically based on demand and supply. Characteristics of construction industry  Investment of capital good … is a manufactured means for production. Not for itself. Capital goods include factories and buildings - used to produce other products. They are objects/assets that are used to produce goods/services. Need other assets as well. E.g. Truck factory; are used in construction to haul various materials in order to make other products such as roads, bridges, dams, buildings etc. E.g. School buildings; universities; colleges; MRT  Public sector as the main client Government has the means to exercise direct control over demand. Affect size of national product directly and indirectly. Action on its own proposed project. Monitoring of performance & meeting demands.  MALAYSIAN CONSTRUCTION MARKET Segmentation Key Players  Key Market Trends: Investments in Infrastructure Sector to Boost Construction Activity  SHORT VIDEO VIDEO 1 https://www.youtube.com/watch?v=pnKsrKuUfBc VIDEO 2 https://www.youtube.com/watch?v=Z9g4rFqZ5Oc THANK YOU…..