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9
C 
10
A 
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PART A: THE BUSINESS ORGANISATION, ITS STAKEHOLDERS AND THE EXTERNAL ENVIRONMENT 
 
84
 
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85 
C H A P T E R 
TOPIC LIST 
SYLLABUS 
REFERENCE 
1 The micro environment 
A5 (a)-(d)
2 The internal and external micro and macro environments 
A5 (a)-(d)
3 The concept of a market 
A5 (a)-(d)
4 The 
demand 
schedule 
A5 (a)-(d)
5 The supply schedule 
A5 (a)-(d)
6 The equilibrium price 
A5 (a)-(d)
7 Demand and supply analysis 
A5 (a)-(d)
8 Maximum and minimum prices 
A5 (a)-(d)
9 Competition and restrictive practices 
A5 (a)-(d)
Microeconomic factors
We start by looking at the definition of the micro 
environment (
Section 1
) and the differences between the 
micro and macro environments (
Section 2
). 
Next we shall examine the concept of a market which, in 
economics, goes beyond the idea of a single geographical 
place where people meet to buy and sell goods (
Section 
3
). 
We will then look in more depth at the microeconomic 
level of the individual firm, individual markets and 
consumers (or households). This means looking at what 
influences the amount of a product which is demanded or 
supplied and analysing how price and output are 
determined through the interaction of