Case study examining a firm in the US from a microeconomic standpoing Research Paper

Case study examining a firm in the US from a microeconomic standpoing - Research Paper Example Apple operates in both oligopoly and monopolistic conditions. Apple Inc. is American technological company with headquarters in Cupertino, California. Apple is a huge, tremendous corporation that is the business of design and selling smartphones and computers. Apple is also a strong competitor in the business of offering online services. The company was founded in 1976. The three founders of Apple are Steve Jobs, Ronald Wayne, and Steve Wozniak. The company became Apple Computer Inc. in 1977. The name was changed to Apple Inc. in 2007. Currently, Apple is the second largest information technology based on revenue earned. It is bettered by Samsung Electronics, which holds number one position. The company employs 72,800 employees who are permanent and work full time. It has 425 retail stores that are found in over fourteen countries. Moreover, the company is responsible for operating its online businesses, which are Apple and ITunes stores. The company enjoys brand loyalty and high revenues. The paper examines Apple Inc. from a macroeconomic perspective. Supply and Demand have a direct influence on business operations. Supply affects the amount of products in the market, which will eventually affect the price of products. Price increase with a decrease in demand.. Demand refers to the desire of consumers to obtain a service or product. The interplay of supply demand leads to the price elasticity, which explains how changes in price affect demand for products and services. Apple is a multinational company, which means United States and global economic conditions affect its operations. It is obvious Apple is affected by the dynamics of supply and demand, which are at the center of all markets. Apple Inc. has been affected by increase in the number of people who have use computers and smartphones. The increased demand for smartphones and computers is due to the need for growth. In response, the company has been able to register