ACJC 2023 Market Structure Tutorial Worksheet

©ACJC Econs Dept/2023/H2 Firms and Decisions Tutorial Worksheet 1 ANGLO-CHINESE JUNIOR COLLEGE JC1 Economics H2 FIRMS AND DECISIONS Tutorial Worksheet 4 Section A: Problem Based Learning Market Research Project For this assignment, you will be working into groups (your tutor will assign). As a group, conduct market research on one of the following markets (one market per group):  Bubble tea in Singapore  Fast food in Singapore  Supermarkets in Singapore  Telcos in Singapore  Donuts in Singapore  OR any other market your group is interested in (check with your tutor for approval). You will need to research on the following for your chosen/assigned market: Part 1: Characteristics of the Market  Approximate number of firms in the industry  Top 3 firms in the industry (by market share, size, or any other measure)  Barriers to entry: what do you think a new firm would need to join the industry?  Comparison of product across different firms: how similar or different are the products? Part 2: Behaviour of Firms in the Market:  Approximate price of a similar product for 5 different brands (unless there are fewer than 5 brands):  Strategies used by the firms to increase profits, where profit = revenue - cost (include relevant images if possible) To conduct your research, you can use online tools such as search engines or Chat GPT. You can also do field research and head down to the retail outlets. Deliverable:  A 5 minute presentation on your findings in class.  You should use a visual aid for your presentation, such as Google Slides or Canva.  You can choose to do either an oral or video presentation.

©ACJC Econs Dept/2023/H2 Firms and Decisions Tutorial Worksheet 2 Section B: Discussion Questions Question 1: Delivery sales drive up revenue of eateries Mr Arif Salahuddin, founder of Michelin-rated Bismillah Biryani Restaurant, teamed up with food- delivery platforms such as Deliveroo and Foodpanda last September. His revenue is up 17 per cent. Within minutes of turning on the Deliveroo app last September, the restaurant had multiple orders. The boost to his restaurant’s sales prompted him to employ more staff and invest in larger ovens and machinery. This allowed him to delegate his staff to do special ised work and the use of machinery also increased their productivity. But Mr Salahuddin said that while 15 per cent to 20 per cent of revenue now comes from delivery, they are still hesitant to rely on it as delivery sales can fluctuate daily, based on factors such as the number of riders and weather. The commissions charged by food delivery partners can range from 20 per cent to 50 per cent, depending on sales and the number of outlets. Mr Andrei Soen, founder of Park Bench Deli, acknowledged that the commissions lower profit margins, but said that as delivery m akes up a fraction of his sales, his margins are not significantly affected. He added that the deliver